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Can a collection agency attempt to collect on a debt that is almost 10 years old?
Wiki User
∙ 8y ago
Yes, with 10 years interest.
What about statute of limitations?
Well, they can sure TRY, but I wouldn't worry about it too much. And if it becomes a case of where they are harassing you, YOU most likely have the more powerful position at this point and can take steps to halt their harassing ways. After the statute of limitations has expired (check with your state to find out exactly how long this is), there is very little legal recourse the collection agency has to collect on the debt owed. Once it has become outdated and removed from your credit report ( after 7 years), it can never again be reported (LEGALLY).
I can tell you, I have one now trying to collect a debt that is back from 1991 AND had actually been paid to the original lender. They (collection agencies) are like a bunch of sharks!
Wiki User
∙ 8y ago
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What does a collection agency have to do to take money from your private bank account?
Assuming the debtor does not voluntarily release the information for collection to the collector due civil process is required before such action can occur. The general steps are: The collector/creditor will file a civil suit against the debtor, win the suit (which is almost certain to happen); be awarded a judgment then execute the judgment as a levy against the judgment debtor's bank account.
What should you do if you dispute a debt with a collection agency and you do not hear back from them in thirty days?
I,m currently in the same situation. I filed a validity claim of the debt, sent it certified. It has been over a month and I received a call from them. They were unaware that I sent this letter. I proved that they received and signed for it. Then I was told someone will get back to me. Is there a time frame they need to adhear too? I had to send this with in 30 days, and if I did'nt I'm giving them the advantage. What advantage do I get being it's now been almost 3 months and still have not received any information? You are right. THey do have an advantage. The law states you have 30 days to dispute a debt once you receive written notification of the debt. But the law does not make any time requirements on the collection agency to get that information to you. It does, however, require that they must stop all collection activities until they send you the proof of the debt.
How do you file a lien for past due condominium fees?
Condominium owners pay assessments in order for the association to operate the community. Boards must collect assessments, and when they are not paid, the board can file a lien for the amount due, against the title of the non-paying owner. Best practices dictate that this is an action for association counsel, since a poorly formed or improperly formed, or poorly or improperly filed lien, gives the debtor an almost automatic out of the debt.
State of limitations on payroll tax?
An wmployer not paying over payroll taxes has much, much greater problems. Payroll withholding is from the employees earnings...it is their money to pay their tax liability. the employer has those funds in trust for the employee ans US Govt. Not paying them is a criminal act of theft, just to start. Also, payroll taxes, as trust funds, pierce the corporate veil...meaning officers and responsible employees are personally liable for the entire amount, and their is no corporate protection. Generally, Each type of tax, (there are zillions of different types, by different jurisdictions), can change the answer a little. In almost all cases, the initial amount of tax is almost unimportant after a while since your still accruing interest, penalty, etc., ...whats the SOL on it? And most importantly, tax liens, generally, don't actually have an SOL. They end once they are paid. If on a property, that will be when the jurisdicition gets paid which may be (and frequently is) when they force a collection by sale of seizure of asset. However, I suspect you may be thinking about what the SOL is for assessment of a tax. A different thing from collecting, but still varies by all the things...which tax, where, how it is handled, what was filed, what wasn't filed, how inaccurate it was (most if over 25% wrong have yet special rules and penalties) etc. And, almost all SOLs, especially those on income, only start to run once a return is filed....so if you never filed a return, the SOL is essentially forever. AND IF A TAX IS ASSESED BEFORE THE SOL RUNS OUT, IN MOST PLACES, THAT ASSESSMENT NEVER TIMES OUT...THE RIGHT TO COLLECT REMAINS.
How old do you have to be to sign a record contract?
I am almost 100% sure it is ageless...
Cell phone bill almost 8 years old that a collection agency just started calling aboutcan they still collect after all this time?
You need to check the law on this - find out what the statute of limitations are on unpaid (phone) bills.
Can a collection agency put a lien on your federal tax refund?
Most definitely for almost any loan. If it is a student loan, you can count on it.
If you owe a telephone bill and are just paying it off little at a time can they send it to a collection agency and go against your credit history?
Yes they can, the original creditor can send it to a collection agency the moment you are considered late by the contract terms or agreement you have with them. Yes a collection agency can report it to the CRA's only if they 1. Notify you in writing and advise you that they are attempting to collect the debt and that you have 30 days to dispute the validity of the debt. (Your Mini Miranda Rights) 2. If you request in writing that they validate the debt which they must do according to your federal rights. But sometimes because so many people aren't aware of there rights the CA's take advantage of consumers and almost always break the law when collecting debts from unsuspecting consumers who have no knowledge of these rights.
What is data acquisition?
The word "acquisition" means to collect or to get. So "data acquisition" means collection of data. This can be done by either automated or manual means, however in the context of electronics its almost always automated.
What information does a collection agency need from a creditor for them to legally go after you?
When your account is turned over to a collection agency all the infornmation goes with it. In other words, whatever you put on the original application for the card. Home and work #s, home address, name and address of employer, income, etc. The collection agency does just that collects (or tries to). They cannot sue you without the consent of the original creditor. If that happens, your account is referred to an attorney who specializes in collection. Lenders do not want to sue. It is time consuming and expensive and the majority of suits are uncollectable. They are almost always willing to negotiate terms you can afford. Know your rights as a consumer and stand up for them.
What is the largest division of police agencies?
With 87,000 employees, the IRS is the world's largest law enforcement agency. Their job is to collect taxes and go after those who don't pay their taxes.
Does the Federal Consumer Credit Reporting Reform Act keep creditors from refreshing the debt after seven years by selling it to a collection agency?
NO. only the expiration of the SOL. Which is in almost all cases shorter than the seven year CR.
Can the IRS garnish your wages in Florida?
Yes. The IRS has almost unlimited power to collect tax arrearages and does not need to follow due process to implement collection procedures such as wage garnishment or bank account levy, property liens, etc.
Are emails that claim charites donate money to sick kids real?
No. Reputable charities don't solicit donations by email, so it's almost certainly a scam and probably an attempt to collect your credit card info for illegal purposes.
Are banks responsible for the collection agency they hire?
No. Actually you almost answered your own question and the reason I say that is your use of the word "hire". When a business or person hires someone they are not responsible for the actions of those they hire. If you used "owned" then the question would have merit.
Agency developers?
The agency encloses a development team that specializes in almost all the skill sets required to build a software application.
What does a collection agency have to do to take money from your private bank account?
Assuming the debtor does not voluntarily release the information for collection to the collector due civil process is required before such action can occur. The general steps are: The collector/creditor will file a civil suit against the debtor, win the suit (which is almost certain to happen); be awarded a judgment then execute the judgment as a levy against the judgment debtor's bank account.
