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Midland Credit Management

Midland Credit Management (MCM) is dedicated to helping consumers resolve past-due debts to get back to a comfortable place financially. Want to learn more about Midland Credit Management Inc. and its mission?

Here’s everything you need to know about MCM.

Who Is Midland Credit Management?

Since 1953, Midland Credit Management has been working with consumers and businesses to help resolve past-due debts. When an individual is unable to repay a loan or make payments on a credit card, Midland Credit Management may purchase that debt and become the new creditor.

MCM is a subsidiary of Encore Capital Group, which has acquired other debt buyers such as Atlantic Credit & Finance and Asset Acceptance here in the US. Encore also has a purchased a European debt buyer, Cabot Financial. Encore Capital Group is one of the largest publicly traded debt buyers, and Midland Credit Management is one of the largest debt collection companies in the United States.

What Does Midland Credit Management Do?

Midland Credit Management helps consumers resolve unpaid debt by purchasing that debt from the original creditor. Once Midland Funding, MCM, or one of their affiliates, has purchased your debt from your creditor, your account is usually placed with Midland Credit for servicing. Once your account is with Midland Credit Management, you can set up a custom payment plan to start paying off your debt. MCM works with consumers to find working solutions for paying off debt. You can decide how much you’re able to pay and how often you can make payments. Their goal is to help consumers achieve financial freedom by resolving past-due debts and creating a clean slate to start fresh.

How to Get Started

If Midland Credit Management has purchased your debt and you’re ready to get started, MCM provides flexible options. You can log in using the online portal, chat online, or call (877) 653-4161 to discuss your debt and create a payment plan. If you’re ready to make a payment, you can also mail in your payments.

When you log into the online portal, you’ll be able to view the details of your account and create your own custom payment plan. If you’re not ready to set up a payment plan, you can make a one-time payment online as well.

Midland Credit Management is always happy to help over the phone as well. If you received a notification about Midland Credit Management purchasing your debt, give them a call, and a representative will help you every step of the way.

Payment Options

Midland Credit Management works hard to offer solutions that work for everybody, and that includes providing various payment options.

You can pay online by logging into the online portal. To log in, you’ll need your MCM account number as well as the last four digits of your Social Security number. From the portal, you can make a one-time payment or set up a payment plan.

If you’d prefer to talk on the phone, you can call MCM anytime Monday through Friday from 8am to midnight ET. On weekends, representatives are available from 8am to 7:30pm ET.

Alternatively, you can always mail your payment to Midland Credit Management. If you decide to mail your payment, address it to:

320 E Big Beaver Rd., Suite 300
Troy, MI 48083

What are the Benefits of Resolving Your Collections Account?

Making efforts to resolve your past-due debts is important. Some of the benefits of resolving your collections account include:

  • Reduce debt: One of the primary goals of resolving collections accounts is reducing overall debt. Whether it’s credit card debt or loan debt, creating a payment plan with your collection agency can help you create a repayment plan that works for you so you can regain financial freedom.
  • Clean up your credit report: Because charged-off accounts stay on your credit report for up to seven years after they become delinquent, you may be wondering how to keep your debt off your credit report. At MCM, they don’t start reporting accounts to the credit reporting agencies for six months after sending their initial notice, and they do not report at all if you set up a payment arrangement before they report and pay as agreed. This means if you make all agreed payments until the account is resolved, MCM will never report your account to the credit bureaus. If MCM has already started reporting, they will request that the credit bureaus remove your account once you have paid off the debt.
  • Relieve stress: Living in debt can be stressful, as it can make it more challenging to cover your living expenses and other basic needs. By resolving your past-due debts, you can have fewer bills to pay, which can make it easier to afford your living expenses and reduce financial stress.
  • Achieve future financial goals: Having past-due debt can hold you back from achieving other financial goals you may have. By resolving these past-due debts, you can rework your budget and start saving for future financial goals, such as a home, car, vacation, or retirement.

How Does the Debt Collection Process Work?

The Midland Credit Management debt collection process may seem a bit overwhelming. Fortunately, it’s very simple. The process starts with Midland Funding purchasing the accounts and Midland Credit Management servicing them. Midland Funding may pay a one-time fee to purchase accounts. Midland Credit Management will service the account and contact borrowers to let them know how they can start making payments. The goal is to give individuals a better way to pay off their debt by allowing for custom payment plans and terms that work for MCM and its consumers.

How Can I Manage My Account?

If you want to manage your account or make a payment with Midland Credit Management, you can log into the online portal. To do this, simply enter your MCM account number and the last four of your Social Security number. If you don’t have access to a computer or have a question, you can call a representative at (877) 653-4161. The representatives at Midland Credit Management are always happy to help you manage your account and resolve unpaid debts.

Who Does Midland Credit Management Collect For?

Midland Credit Management collects debts on behalf of itself, as well as affiliated debt buyers like Midland Funding, Asset Acceptance, and Atlantic Credit and Finance. MCM collects on accounts that were originally with some of the largest banks. These debts can come from a wide range of creditors, including banks, credit unions, credit card companies, and other consumer accounts. When these institutions have borrowers who are past due on their accounts, they may sell these debts to collection agencies like Midland Credit Management, who will then contact the borrowers to collect the debt.

What Is Debt Collection?

Debt collection refers to the process by which a collection agency, like Midland Credit Management, collects past-due debts from consumers who have missed payments on loans or credit cards. When a debt collection company buys your debt, they will get in touch with you to work out a repayment schedule. Additionally, if you are a co-signer or co-owner, you may also be contacted by a debt collector.