Are you being sued by Midland Funding LLC for credit card debt? If so, you may be confused since you probably didn’t take out a credit card with them. If you have been served with a credit card debt lawsuit from Midland Funding LLC then you need to learn more about how to fight back against this giant debt buyer company. In fact, Midland is a subsidiary of Encore Capital Group based in San Diego, CA, which has been accused of unfair debt collection practices in the past by the Consumer Financial Protection Bureau (CFPB). If Midland Funding LLC is suing you, you need to do your research and fight back.
Are You Being Sued by Midland Funding LLC?
If you have been sued by Midland Funding LLC then you need to take immediate action. As a debt relief attorney in San Diego, I usually recommend negotiating a settlement with Midland Funding, which I will explain more later. Midland Funding purchases credit card debt that has been “charged off” by the original creditor, such as Sears, Dell Computers, Credit One Bank, Citbank, Comenity Bank, and many more. A credit card account is “charged off” and considered in “default” when you don’t make a payment on the credit card for 180 days, however you still owe the full debt amount. Charged off credit card accounts are then routinely sold to debt buyers, like Midland Funding LLC. These debt buyers purchase your credit card debt at a very, very low price and then go after the credit card buyer with a lawsuit to recover the debt. Midland Funding is a huge company with vast resources and attorneys at their fingertips. If you ignore Midland Funding LLC’s lawsuit against you, then very well might get a judgement from the court to garnish your wages, levy your bank accounts, put a lien on your property – not to mention the damage to your credit report.
If you are being sued by Midland Funding LLC, do not give up hope. I have had much success getting my clients out of their credit card debt owed to Midland Funding LLC with debt settlements. For instance, our client owed Barclays Bank $8,848.37. The account went into default when her ex-husband stopped paying child support. The account eventually got sold to Midland Funding, LLC and they filed a lawsuit seeking recovery of the entire balance due. With a trial date pending and less than a month away, we settled this account for $4,089.00. Our client paid $2,000.00 down and the remainder she paid over 6 months. We saved our client $4,759.37 and avoided the unpleasant experience of having to appear for a trial.
How to Defend a Debt Collector Lawsuit From Midland Funding LLC
So what is your first step if you are being sued by Midland Funding LLC? I offer a free debt relief consultation to go over your debt relief options. It’s important to get a clear understanding of your particular case without paying any money up front. The Federal Trade Commission has issued warnings to consumers of debt relief scams, so make sure you do your research before hiring anyone. As with my clients, you want to make sure you hire a debt relief attorney who will save you money – not take advantage of you when you are already dealing with a difficult financial situation. Keep in mind, debt relief attorneys have ethical obligations they must adhere to under the law, and debt relief companies do not.
As I stated earlier, I have had great success in negotiating debt settlements with Midland Funding. A debt settlement occurs when a negotiation is made between the credit card borrower and Midland Funding that the borrower will pay back a (usually) greatly reduced amount of the overall debt over a period of time or in a lump sum. Why would Midland Funding accept just a fraction of the total debt that you owe? They would rather avoid costly court case battles against borrowers and they would rather receive a portion of what you owe than you declare bankruptcy and they receive nothing from you.
Here is another example of a client I provided help to in a Midland Funding lawsuit. Our client owed Citibank $8,055.36 on a Sears Master Card. Due to a loss of income, our client was forced to stop paying on this account. Citibank eventually sold the account to Midland Credit Management. This debt buyer sent out a notice of intent to file a lawsuit if we could not resolve the account. We negotiated a settlement for a one-time lump sum payment of $3,624.92. We saved our client $4,430.44 (65% of the balance claimed due) on this account. This was the last of 11 credit card accounts we settled for this client. And she is now living a life free of the burden of debt!
If you are looking for a debt lawsuit attorney in San Diego to help defend you in a Midland Funding lawsuit, then give me a call at 858-217-5051, email me at firstname.lastname@example.org or submit an inquiry to my Debt Help page. And as you can see from my client debt relief success stories and as my clients will tell you, the savings I offer my clients far outweighs my fees.
Daniel R. Gamez, an attorney focusing exclusively in debt relief, is licensed to practice in all state and federal courts in California and Texas. Mr. Gamez owns and operates the Gamez Law Firm in San Diego, CA. For more information, please contact Daniel Gamez at 858-217-5051, daniel@gamezl