Comments on: What is the Federal Reporting Period? Should I pay Midland Credit Management or will my credit stay the same?

By: echo

echo — Sat, 13 Jun 2009 16:30:07 +0000

Write them and ask them to delete upon payment.

Do a Google search for PFD sample letter

If the original creditor is reporting, Midland won’t be able to remove what they are reporting but they can remove what they themselves are reporting, if they agree to do it upon payment.

By: CatDad

CatDad — Wed, 10 Jun 2009 10:18:08 +0000

If this is for charged-off credit card debt then there won’t be a positive outcome as charge offs stay on your credit report for 7 years…paid or unpaid.

By: Reena

Reena — Sun, 07 Jun 2009 08:35:02 +0000

“Federal Reporting Period” aka “Statute of Limitations”.

Go to the above link and read and then apply the knowledge to your specific situation….

Either way… the question is whether you are still required to pay for this debt. The outcome is the same. Pay it and it will get the notation “paid” added to the account. Which has no effect on improving your score and will not make the account vanish from your report until it is time to fall off (7 years).

Don’t pay it… and it will fall off completely after 7 years of being first time delinquent.