Being Sued By Midland Funding? Don’t Press The Panic Button Just Yet!

It’s easy for people to go past the due date on their credit card debt, due to a number of reasons. Once that happens, the debt will be usually sold off to another company, i.e. a debt collection agency. Midland Funding is the company that buys your credit card debts and it’s them that issue a credit card lawsuit. All of this however is just the tip of the iceberg.


1What Midland Buys When It Buys an Account

When it all comes down to it, the real issue isn’t that the new company hires other agencies to collect the debt. It isn’t even that debts are sold to other companies in the first place! The real problem lies in all the parties involved in the sordid matter not really knowing what is owed by whom.

When Midland Funding purchases your old credit card debts, the company wants to pay as little as is possible (that helps boost profits on each collected credit card account). The credit card companies on the other hand want as big a slice as possible, so that little loss is incurred on unpaid accounts.

Midland Funding takes the middle ground and compromises by buying only an electronic file of addresses, names and the amounts due from the credit card companies. It isn’t that the company can’t gain more information, only that it would cost more.


The Midland Funding Business Model2

Once the account is bought by Midland Funding, its cousin Midland Credit Management will try and collect the debt, hoping the consumer will pay-up voluntarily. Some debtors do while others don’t which is how people see themselves on the end of a lawsuit.


Why Midland Funding Gets Judgments So Often

People simply fail to show up in court or defend the lawsuit most times when sued by Midland or some other debt buyer. Seeing as there’s no opposition, the judge grants a positive judgment to Midland Funding and once its issues, the credit debt buyer collects the outstanding debt through bank account levy, wage garnishment, and other such tactics.


3Why Defending a Midland Funding Lawsuit Makes More Sense

This is one reason (and a very important one): people should defend a lawsuit by Midland Funding. Not only do the credit debt buying company don’t collect much documentation or proof, i.e. copies of credit card statements and applications when it buys old debt; but they also don’t expect people to answer summons to a credit card lawsuit in the first place! So if you decide to fight back, you have a big chance of winning, too!

This can be taken as an advantage and with the help of HowToWinaCreditCardLawsuit.net, a judgment in your favor is guaranteed.