Re: MCM-Would this help or hurt?

Posted by Suzanne (63.185.113.84) on June 11, 2004 at 23:34:38:

In Reply to: Re: MCM-Would this help or hurt? posted by bg on June 11, 2004 at 14:16:10:

Well, I currently live in Texas, so I'm a little concerned about the possibility of them freezing my bank account. I know the best option would be to just open up a new bank account somewhere else with someone else listed on the account, but I don't know anyone here in the state that would be willing to do that.

The one account with MCM was a Household Bank/UICI/AFCA card opened sometime in 1998 or 1999 in Indiana. The last payment was made in 1999. I then moved to Florida in 1999 and then to Texas in 2003. If the SOL is based on the state I currently live in, I think its 4 years, but I'd have to check again. Houshold originally turned the account over to LTD Finance who had it all of 1 month and then it went to MCM. It started out as only a $1,500 balance owed and now its up to $1,600.

The second MCM account is pretty much the same age. It was an Household Bank/Orchard Bank account. It has a balance due of $800.

So you can see, I'm not that deep in debt with them and could pay them off now.

If I dispute the validity with MCM and they come back with the contact information for the original creditor, can't I just go to Household Bank (since they last owned the accounts before going to collections) and pay them back???

Just kinda say hey...your collection agency was making an offer of paying 1/2 the balance owed to close the account. Will you make the same offer? This way, you get paid, I get you to update my credit history and MCM can go suck on lemons.

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