Why should I pay MCM if I didn’t borrow from them?
MCM acquires loans from banks and other lenders. Even if you didn’t apply for a loan with MCM, you must still fulfill your obligation to pay MCM as you would the original creditor.
Will I be charged late fees on my account?
MCM does not charge any fees. However, if you are late on your payment arrangement with us, we are not obligated to renew any prior offers.
What happens if my car is totaled, impounded or stolen?
We understand that this is a difficult situation. Even if your car is totaled or impounded, you are still responsible for paying off the remaining balance on your loan. Please call (800) 296-2657 to speak with an Account Manager who can assist you.
How can I get my vehicle title to sell or register my car?
If you do not have your car title, you must first resolve the remaining balance on your loan with MCM. Once the loan is fully resolved, we will release the lien on your vehicle, and you will receive a free and clear title for your car.
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How do I get my lien release after paying off my loan?
In most cases, once your final payment is processed and funds have cleared, we will mail the title or lien release within 10 business days.
If your state has an electronic title program and your record is held electronically (e-title), we can release our lien directly with the state. Your state’s DMV will then either issue a clear title or remove our name (Midland Credit Management, Inc.) from the vehicle’s title record.
Does MCM charge interest on its payment plans?
MCM does not charge interest or any hidden fees on our payment plans, so you can pay off your loan faster. However, accounts in the litigation process may incur additional charges.
What is the minimum monthly payment amount?
Your minimum monthly payment amount will depend on different factors, including your balance, employment status and overall ability to pay. Please log in to your account or call us to find out more.
Should I pay Midland Credit Management (MCM)?
MCM wants you to resolve your auto loan. The first step is to get in contact with us. You may be qualified for manageable repayment terms and might even pay less than what you expect. Call us or review your account now.
What legal actions can MCM take if I don’t make my payments?
MCM may take legal action which could include judgment, wage garnishment or placing a lien depending on your jurisdiction. However, our goal is to avoid this from happening. Call (800) 296-2657 or chat with us to find a solution before it gets to that point.
