Midland Funding, LLC is one of the world’s largest debt buyers. Unlike many debt buyers, they aggressively sue Alabama citizens. If you have been sued by Midland Funding, Call me: 251.272.9148.
Midland Funding is a debt buyer. I’ve written articles about debt buyers before, and if you want to know more details about the debt buying industry, go to my article “All About Debt Buyers.”
Here’s the basics. Let’s say that you had an old credit card that you didn’t pay because you lost a job. The credit card company closed the account and gave up on trying to get money from you. In other words, they “charged it off.” Let’s say that account had a balance of $1,200.
Well, Midland buys accounts like that for pennies on the dollar, and then they try to collect on them. Midland doesn’t buy accounts like yours individually, they buy thousands of them at a time.
What Midland gets a big data tape with digital “records” showing the names, addresses, phone numbers, social security numbers, and account numbers of all the people attached to those charged-off accounts. Midland Funding then gives this information to its “servicing affiliate,” which is a separate corporation called Midland Credit Management. Midland Credit Management will probably send you a “pre-lawsuit letter” asking for money.
If you don’t pay what they’re asking for, they’ll probably file a collection lawsuit against you. Many, if not all, of these collection lawsuits can be beaten by any decent lawyer, because Midland does a sloppy job of presenting the evidence necessary to win their cases. I’ve been to court against Midland about 8 times in the past year, and I’ve beaten them every time.
Unfortunately, most of the people who get sued by Midland Funding either don’t talk to a lawyer or just rush into bankruptcy. As a result, Midland is extremely profitable. Midland is owned by a larger corporation called Encore Capital. It is a publicly traded company (NASDAQ: ECPG). In Feb 2010, Encore’s stock price was about $15 a share. Today, it is over $40. It’s nearly tripled in value over the past 5 years. That’s incredible.
All the more so because those profits are possible only because of the ignorance of the people Midland sues. If you’ve been sued by Midland Funding or harassed by its affiliate, Midland Credit Management, then you should call me. My rates are more affordable than you’d think and you have a good chance.
Here are a few recent cases I’ve won against Midland: