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How long does it take for a debt collection agency to collect a debt?
Wiki User
∙ 14y ago
A debt collector can attempt to collect on a debt for as long as she wants. She cannot, however, bring legal action against you once the statute of limitations has expired. At this point, she may still attempt to contact you by phone and written correspondence, but that is legally the extent of the actions.
Wiki User
∙ 14y ago
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How long does a third party collection agency have to collect on a debt after the debt is charged off by the original creditor?
There is no time limit placed on their collection efforts to collect a debt. However, there is a SOL for legal recourse and for how long it can report on your credit reports. Reporting time is 7 years and so far as the SOL for legal recourse you would have to check your state laws to see how long.
What is the statute of limitations for debt collection in Michigan?
There is no statute of limitations for debt collection in Michigan. You can continue to collect as long as the debt is owed. The debt can be sold as well.
How long can a collection company try to collect on an account?
Until your state's statute of limitations runs out on that debt.
How long does a collection agency have to validate debt?
30 days from the time the debtor requested written confirmation.
How soon can a vendor send a client's account to a collection agency?
There is no law that restriction how long a creditor or business must hold a bad debt before forwarding it to a debt collections agency.
If you already paid a debt can a collection agency legally continue to try to collect the debt?
Not as long as you can prove you paid it.
How long can a debt collection agency sue you in Ohio?
In Ohio, the statute of limitations for debt collection lawsuits is six years for most types of debts. After this time period has passed, the debt collector cannot legally sue you to collect the debt.
How long does a third party collection agency have to collect on a debt after the debt is charged off by the original creditor?
There is no time limit placed on their collection efforts to collect a debt. However, there is a SOL for legal recourse and for how long it can report on your credit reports. Reporting time is 7 years and so far as the SOL for legal recourse you would have to check your state laws to see how long.
What is the statute of limitations for debt collection in Michigan?
There is no statute of limitations for debt collection in Michigan. You can continue to collect as long as the debt is owed. The debt can be sold as well.
Is there a maximun on credit card debt for the statute of limitations to apply?
The statute of limitations is how long a collection agency can collect and sue or the debt. It makes no difference how much or how little the amount is. The only limitations are time.
How long can a collection agency come after you for 70 dollars?
Until you pay your debt
How long can a collection company try to collect on an account?
Until your state's statute of limitations runs out on that debt.
What legal right does a collection agency have to collect a debt after 7 years if the debt is no longer on your credit report?
The debt being dropped from the credit report has no bearing on the collector's rights to pursue recovery of monies owed. The creditor/collector can contact the debtor seeking payment for as long as they choose. Also, state SOL's for debt(s) apply only to lawsuits, not collection procedures.
How long does a collection agency have to validate debt?
30 days from the time the debtor requested written confirmation.
How soon can a vendor send a client's account to a collection agency?
There is no law that restriction how long a creditor or business must hold a bad debt before forwarding it to a debt collections agency.
If one collection agency fails to collect a medical bill and sell it to another agency how long will the bill stay on a credit report?
seven years
Can a debt collection company issue a summons for unpaid unsecured debt?
Yes, once a debt collection agency buys your debt from the original creditor they are legally entitled to all of your debt. Therefore, they can take you to court for any unpaid debts, so long as it is the debt they bought from the original creditor and only that debt.
