[suga5]

Good Morning,

Well I will start from the beginning I have a 2004 old collection account with southwestern bell which they have sold the account to “MCM better known as MIDLAND CREDIT MANAGEMENT” I pulled my credit report and notice that midland was on there so I “disputed” it with the credit report agency. Well I look online at my disputes and notice that it had been “VERIFIED” by “MCM” so what I did next which I have been reading a lot here on the forums was to “DV” them so I did and instead of receiving a answer to my “DV” I have a letter from them looks something like a settlement offer. The letter states:

“Dear sir you won’t want to miss this settlement opportunity offered to you by “MCM”
recognizing that you may have gone through some financial difficulty and have been unable to satisfy your account, we would like to offer you a positive flexible option to
resolve your account for 40% off the balance. If we receive payment by 03-02-2008 in the amount of 560.33, we will consider the account balance paid in full!
To take advantage of this offer please call toll free 800-282-2688.

My question is what do I do next? And to add to this problem “SOUTHWESTERN BELL” is still on my credit report for the same dept which they sold to “MCM”

[jlynn]

Is the SBC account reporting a -0- balance sold or transferred?

Did you ever receive a dunning letter from MCM, or is this settlement offer your first communication?

What state are you in? and how old is the debt?

[suga5]

Is the SBC account reporting a -0- balance sold or transferred?
No its repoting 934.00 past due as of oct. 2004, date opened 9/2004, last reported date 10/24

Did you ever receive a dunning letter from MCM, or is this settlement offer your first communication?

Yes this is my first communication with them, all i did was dispute the collection with cra then i sent "MCM" a dept validation letter and i ended up receiving this letter from them


What state are you in? and how old is the debt?

I am in Arkansas, this dept happened back in 2004

[apexcrsrvc]

You're on the right course . . . at least Midland is precluded from taking additional collection activity until they validate.

However, the SBC account balance is indeed strange insofar as MCM is not a collection agency. They buy debt. That said, I'd dispute the SBC tradeline upon the premise that it should be reporting as paid/transferred with a 0 balance.