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a collection agency will usually take up to 30% off a debt but only if it is over $500 i once owed $5,300 on a returned vehicle and they were willing to take $3,100 but you can hustle your amount owed. all they want is some of the money anyway.

There is no specific set amount. You must negotiate with the collection agency. They will settle for whatever they can get in many circumstances.

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Q: How does a collection agency determine how much money they will settle a debt for?
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Can a collection agency collect interest on your debt?

Yes, Collection agency can do that. But contact a good collection agency like Guardian Credit Services, they know will how to deal with customers to get money


Does the creditor or the collection agency get the money you pay on a debt?

When a collection agency takes on a bad debt, in many cases they are "puchasing" the debt from the original creditor. When you then pay off the collection agency, your money will stay with that collection agency. This is the most common scenario, but some companies do have their own internal collection agencies (Capital One, for example, has their own collection subsidiary in Idaho - the Westmoreland Agency). Hope this helps!


How do you get rid of the money that you owe from collection agency without paying them and become good credit again?

how to get rid of the money that you owe from collection agency without paying them and become good credit again


Can you be sued by the original creditor if they have already sold your case to a collection agency?

If they've sold your case to a collection agency, they have been "paid" for your debt with the money the collection agency gave them for your case, so, no, they can't legally sue you - as far as I know.


If you owe a company money and it is placed in collections can you pay the original company or do u have to pay the collection agencies?

You have to pay the collection agency. The original company has a signed contract with the collection agency and they pay the collection agency a % of what they collect from you. That's how they make their $$. The original company did not want to have the outstanding balance on their books.

Related questions

What do I do after a collection agency sues me?

Once a collection agency sues a person they may have to get an attorney and go to court to settle this. The agency wants you to pay the money you owe them however they can get you to do it.


Can you settle for less in a collection agency?

Yes, sometimes a collection agency will let you settle for less than the total amount owed on the debt. Most times this means they will want all the money in one, two, or three large payments.


What are your options if you are unable to pay the full debt amount to the collection agency?

Do NOT pay any money to a collection agency.......send your money to the debtor, the person you owe it to. Send it in the form of a check or money order. NEVER PAY A COLLECTION AGENCY


Can collection agency get money from student on assistance?

no


Can a collection agency collect interest on your debt?

Yes, Collection agency can do that. But contact a good collection agency like Guardian Credit Services, they know will how to deal with customers to get money


Does the creditor or the collection agency get the money you pay on a debt?

When a collection agency takes on a bad debt, in many cases they are "puchasing" the debt from the original creditor. When you then pay off the collection agency, your money will stay with that collection agency. This is the most common scenario, but some companies do have their own internal collection agencies (Capital One, for example, has their own collection subsidiary in Idaho - the Westmoreland Agency). Hope this helps!


What kind of service does a collection agency provide?

A collection agency is commissioned to collect money from those who have defaulted on credit card bills or loans. The agency tries to recover as much money as possible.


How do you get rid of the money that you owe from collection agency without paying them and become good credit again?

how to get rid of the money that you owe from collection agency without paying them and become good credit again


Can collection agency take money out of joint account in ct?

Yes they can.


Can you be sued by the original creditor if they have already sold your case to a collection agency?

If they've sold your case to a collection agency, they have been "paid" for your debt with the money the collection agency gave them for your case, so, no, they can't legally sue you - as far as I know.


If Company A sends your acct to a collection agency but you decide to pay off Company A do you still owe the collection agency money?

Nope. Advise the collection agencey that this was settled with the original creditor. You may have to provide them with a copy of a canceled check or money order. You can also have the creditor call the agency. Some will, some won't.


What are the benefits of using a business collection agency?

There are a few benefits to using a collection agency for ones business or personal purposes. One benefit to using a collection agency would be being able to avoid having to directly deal with the person who owes money.