How to handle the charged-off accounts

A few of my credit accounts have been charged off. The original debt amount was $10,000. Now, the debt amount has increased to $15,000 with additional interests. I am getting collection calls from Midland Collection Agency for several months. I don’t have the required amount to settle the debt. What should I do now?

2 Answers

You can contact with Midland Collection Agency and try to settle with them on your own. Follow the steps to settle debts yourself: http://www.debtconsolidationcare.com/steps.html


You should send a letter to Midland Collection Agency and ask them to validate your debt. Unless they validate the debt, you're not liable to pay them. If they sucessfully validate the debt, then you will be liable for paying off the debt to them. In such a situation, you can take help of the debt settlement companies in order to help you in negotiating with them and paying off your debt. In case, you don't get an affordable payment plan to pay off the debt, then you may think of filing bankruptcy and get a discharge from these debts.


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