I get a lot of junk mail so when i opened a letter from a company called MCM Credit I thought it was going to be another offer for credit. I was stunned when I read that I OWE some company called Midland Funding, or Midland Credit Management, or MCM (it was titled all of these in the letter). Anyway they are nicely offering to settle my "debt" for 75% OFF the original debt! Since I don't owe anyone any money I was a little concerned. I checked my credit report and nothing is there so I did a little research. It turns out this company is buying really-really old debt from credit card companies (I declared bankruptcy in 1991). Basically IF this debt was mine it is 18 years old and was charged-off in the bankruptcy proceeding.
I have filed a fraud alert with the big three credit bureaus and have sent a copy of the letter to them as well.
They are threatening action if I do not respond by 2/14/09.
I would suggest to anyone that gets these letters to take action now. If anyone is interested in going in on a class-action suit I would be very interested.
Good luck everyone who is a victim of this "firm".
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