It is important that our customers get their questions answered and so we’ve developed this handy set of FAQs to help our customers better understand what we do and how we can help.
Who is Midland Credit Management (MCM)?
Midland Credit Management (MCM) is a company that helps consumers resolve past-due financial obligations. MCM has serviced millions of collection accounts over the years with the goal of helping consumers achieve financial freedom. MCM works with consumers and also partners with Midland Funding LLC, one of the nation’s largest buyers of unpaid debt.
If you received a letter from MCM, this means a creditor you had an account with has closed your account and sold it to one of our family of companies. You will need to work with MCM, not your original creditor, to resolve your account.
MCM empowers consumers by creating payment plans that work for them. We have helped over 7 million consumers work toward improved financial health.
Who is Midland Funding?
Midland Funding LLC is one of the nation’s largest buyers of unpaid debt. Midland Funding owns accounts with an unpaid balance that have gone at least 180 days without a payment or payments have been less than the monthly minimum. When this happens, the lender may decide to close your account and turn it over to collections.
Lenders often sell past due accounts to companies like Midland Funding. For many consumers, Midland Funding LLC engages with Midland Credit Management, which specializes in servicing outstanding debt obligations and services your account, working directly with you.
See also “What’s the difference between Midland Funding and Midland Credit Management (MCM)?”
What’s the difference between Midland Funding and Midland Credit Management?
Midland Funding LLC owns consumer debt obligations. Midland Credit Management (MCM) is a debt collector that services accounts owned by Midland Funding. However, MCM also purchases and owns some of the accounts it services. This is why some consumers see Midland Funding on their credit report, but others see Midland Credit Management. MCM is dedicated to helping consumers relieve the stress of having unpaid debt.
Why am I being contacted by Midland Credit Management and not my original creditor (the company I previously had an account with?)
When a lender doesn’t receive payment on an account for at least 180 days, or if payments are less than the monthly minimum, they may decide to close the account and turn it over to collections. Many lenders sell past-due accounts to companies like Midland Credit Management (MCM). At that point MCM begins reaching out to consumers.
If you received a letter from us, this means a creditor you had an account with has closed your account and sold it to us. You will need to work with MCM, not your original creditor, to resolve your account. MCM is committed to helping consumers resolve their obligations and get back to doing what they love.
Why am I receiving phone calls from a number I don’t recognize?
Midland Credit Management (MCM) communicates with consumers through letters, email, and phone calls. If your account is owned by Midland Funding or MCM and you received a phone call from a number you don’t recognize, MCM may be trying to contact you regarding your account. Please give us a call at (800) 296-2657 if you have any questions. Our account managers are available from 5:00 am to 7:00 pm (Pacific) Monday through Thursday, Friday 5:00 am to 5:00 pm (Pacific), and 6:00 am to Noon (Pacific) on Saturday.