Midland Credit Management * Bud Says

Bud Says...

Midland Credit Corp (MCM) started out as a small bottom feeder prior to the shark or whale status they now enjoy. As a vulture, they purchase portfolios of old, (worthless?) accounts that may be out of statute, then inflate them and attempt to collect. They do place accounts on credit reports and like all bottom feeders, appear to suffer from the same disease that precludes them from giving “accurate” information in their reporting.

IMPORTANT: Here is even bigger news! In order to swim with big fish, MCM has recently embarked upon a quest to invade the arbitration field. Reliable information indicates that MCM is about to send thousands of cases to AAA Arbitration (American Arbitration Association See: www.adr.org/about, out of New York City and is currently recruiting arbitrators to feed them claims. The compensation for the cases will be $50 per ex-parte case and $100 for cases where both sides submit documents. They will likely rotate the panelists after a specific time or number of cases, so if an arbitrator is unavailable now, due to their schedule, they may become available to serve on cases at a future time and date.

There are a lot of rumors floating around about the downturn in cases at the National Arbitration Forum (NAF) out of Minneapolis, MN and how badly they have flubbed the cause and given arbitration a black eye. Furthermore, there are many sites popping up on the web going after arbitration that include:

www.givemebackmyrights.com and www.arbitrationjustice.com

The first is involved with a national group of consumer activists ready to do battle with arbitration claims, the latter will offer advice, forums and is reportedly going to publish the names and law firms of anyone processing arbitration claims.

Be assured that MCM is investing a LOT of money into this project, it is VERY important that every consumer understand that each arbitration claim should be challenged from the beginning. Everything about what they do, who they hire, what is paid, how claims are processed, what information is responded to, how disputes are handled, how many claims specific arbitrators handle, etc. will be published on these and various sites. You will also be able to share information on what documents MCM uses to validate their claims for arbitration. We are all aware of how many phony documents are sent to the NAF and the $250/hourly rate paid to the rubber-stampers who (whore?) collect for them.

MCM is just another bottom feeder out to make millions off unsophisticated consumers, on debts they purchase for pennies. Don’t fall for their threats, lies, scams or BS about what they will do to you. Make them validate, document each and every step of the process, keep a paper trail, tape their calls. Do anything to make them spend more time and money. Check out the websites for more interesting and helpful information on dealing with arbitration claims.

If you find a MCM account on your credit files, dispute it with the credit bureaus, demand they validate it. Contact the people listed above if you are not satisfied; make them give you what the law says you are legally entitled to.

If they fail to take actions, help is available for credit bureau reporting. There is a strong group of consumer law professionals ready to assist you with credit reporting problems at: www.myfaircredit.com

Tell them Bud Hibbs sent you!

Let me know if you need assistance in dealing with MCM.

budhibbs.com