Being contacted by a debt collector is not most people’s idea of a good time. And although it may be tempting to ignore debt collection phone calls or letters, this isn’t a good strategy. In fact, ignoring communications from a debt collector is one of the worst things you can do. Midland Funding, which is one of the largest debt collectors in the country, routinely contact consumers about unpaid debts. If Midland Funding has contacted you, it is important that you understand what to do next. In this article, we explain what you should do if Midland Funding contacts you.
About Midland Funding
Midland Funding is a debt buyer, which is a company that buys consumer debts in bulk for pennies on the dollar. Once Midland Funding has purchased a debt, it initiates the collection process through Midland Credit Management, which is a third-party debt collection agency. Therefore, as a debtor, it’s possible that you may receive correspondence from either one of these entities.
Types of Debts Midland Funding Collects
Midland Funding purchases a variety of types of debts, including auto loan, retail, credit card, utility, medical, and home loan debts. Regardless of the type of debt involved, Midland Funding has one goal: to make a profit by collecting money from consumers.
Midland Funding and the Fair Debt Collection Practices Act
Debt collectors who contact consumers are required to comply with federal and state laws like the Fair Debt Collection Practices Act. For example, a debt collector may not threaten or harass you. In addition, there are strict rules addressing when a debt collector can contact a debtor’s family member or job. Unfortunately, debt collectors often violate these laws, making legal representation imperative if you’ve been contacted by Midland Funding.
Don’t Ignore Midland Funding
Although Midland Funding can’t harass you about a debt, it can file a lawsuit against you to collect the debt in question. And if you are the recipient of a Midland Funding lawsuit, you must respond to it quickly by filing a response with the court. Otherwise, the court will enter a default judgment against you, thereby allowing Midland to collect the debt amount through wage garnishment or some other method. In fact, this is an important part of Midland’s business model: it counts on a certain percentage of debtors to fail to respond to its lawsuits, thereby providing the company with an easy and steady stream of income.
Contact a Debt Collection Lawsuit Defense Attorney
If you have been contacted by Midland Funding, you need an experienced debt collection defense lawyer on your side. At Fullman Firm, our California debt collection lawsuit defense attorneys are here to protect your rights as a consumer and pursue the successful resolution of your case. Our experienced lawyers are known throughout California as skilled negotiators and tenacious litigators, so when you hire us, you can rest assured that we will provide you with exceptional legal representation. Please contact us today to schedule a free and confidential consultation.