0
How many times does a collection agency have to attempt to collect a debt before they can take you to court?
Wiki User
∙ 11y ago
There is no time limit that a collector must adhere to before initiating a suit. But, collectors generally seek legal recourse as a last resort. They prefer to resolve the issue by negotiating with the debtor for a lesser amount than originally owed.
Please be advised, however, any creditor/collector can pursue a lawsuit whenever they so choose within the boundaries of the debtor's state SOL laws.
Wiki User
∙ 11y ago
Add your answer:
Earn +20 pts
How do you sell a judgment?
You can contact a 3rd party company. They will then either purchase the judgment from you, paying you a percentage of the amount owed on the judgment and they then become the owner of the judgment. OR you can contact a collection agency and they will attempt to collect on the judgment and will take a percentage of what they collect, IF they collect anything. Most collection agencies seem to take months upon months before they collect anything and sometimes even tell you "Sorry, we couldn't collect for you." A good way to get an idea of the process is to go to Google, type "judgment buyer" in the search field. You will get alot of companies. Read through the websites carefully and find out their procedures. I just used floridajudgmentbuyer.com and had no problem at all. But, that's just my experience. Good Luck!
When the original creditor on a second mortgage charges off the loan as bad debt can a collection agency foreclose on the mortgage?
They (collection agency) would first have to buy the mortgage rights from the original creditor (usually for just pennies on the dollar), before they could take action. Normally speaking though, once a charge off has occured, the chances are slim that a 2nd party would buy those rights due to high risk/low chance of recovery of assets and/or cash as the original creditor has probably already tried applying the max legal pressure (hiring a collection agency) to collect the debt.
Can a collection agency make inquiries on your credit report before placing it's debt?
== == Collection agencies do not have the legal right to pull your credit report unless you gave them permission.
Can a creditor or collection agency levy your spouses account if it was before we were married and I'm not on Her account?
I believe so - When you get married you assume all the debts.
Can a credit card company or collection agency put a lien on your home before first taking you to court or can they get a judgment against you with out you knowing about it first?
No. Court is a must
Shouldn't you been notified from a collection agency that they would charge off an telephone bill if you co-signed for it for someone else?
It would depend on the agency's established collection procedures. Usually the cosigner is notified after all attempts to collect from the original debtor have failed. The CA will then attempt to collect the debt from the cosigner before deciding whether to inititate legal action.
Is it legal for a collection agency to try and collect on a Sunday?
no ,they also cant call before 9 am or after 9 pm
What is the normal time before a creditor can use a collection agengy to collect a debt?
Generally a Creditor will wait 180 days from the date of the last payment before passing the account to a Collection Agency
Is it legitimate if a collection agency sent you a letter stating that their client would settle for a certain amount if paid by a certain date and they want you to fax the letter to them?
Before making any commitments to a collection agency, you should get confirmatio from the original creditor that the collection agency has legal authority to collect at settle the debt.
Does a debt collection agency have to go to court to collect?
Not necessarily. A debt collection agency can attempt to collect a debt through various means such as phone calls, letters, and negotiation. However, if the debtor disputes the debt or refuses to pay, the agency may choose to take legal action and go to court to enforce the debt.
How many days a system of records notice be published before before an executive agency begins to collect personal identifiable information?
A system of records notice must be published at least 30 days before an executive agency begins to collect personal identifiable information. This notice is required under the Privacy Act and allows the public to review and comment on the agency's data collection practices.
How do you sell a judgment?
You can contact a 3rd party company. They will then either purchase the judgment from you, paying you a percentage of the amount owed on the judgment and they then become the owner of the judgment. OR you can contact a collection agency and they will attempt to collect on the judgment and will take a percentage of what they collect, IF they collect anything. Most collection agencies seem to take months upon months before they collect anything and sometimes even tell you "Sorry, we couldn't collect for you." A good way to get an idea of the process is to go to Google, type "judgment buyer" in the search field. You will get alot of companies. Read through the websites carefully and find out their procedures. I just used floridajudgmentbuyer.com and had no problem at all. But, that's just my experience. Good Luck!
Does the children of a deceased parent have to pay collection agencies that they owe before dividing the profit made from selling the deceased parent's house?
It depends on who the collection agency is attempting to collect from. If it is the estate, yes, they must be paid. If it is the child, not necessarily, but it could be garnished or a lien placed on the property.
What is required for a collection agency to attempt to collect past due rent?
My experience has been that an agency may not take over a debt before the 31st day after move out. Different agencies require different documents. To be safe, have these documents organized and available. Signed lease, rental application, move out statement documenting all charges, and any supporting documents such as receipts. See my blog atwww.thelandlorddoctor.com or contact me at Bill@thelandlorddoctor.com Good luck!
Can collection agency put a lien on your bank account in sc?
It is possible for the collection agency to put a lien on your bank account. Before they can do this, they must go through the proper procedures first.
Mortgage lates after filing chapter 7 Can a mortgage company report lates after filing of a chapter 7 and before a discharge?
Yes. That reporting to a credit agency of an item of fact, is not an attempt to collect the debt. Your not expecting you mortgage debt to be discharged are you?
Your former insurance co was to have paid the bill five years ago now you are being threatened by a collection agency and this is the first time you have seen the bill?
Before communicating any more with the collection agency, check with the insurance company to see what happened in that case, and/or with the original company they claim you owe. Most companies would have charged off the bill by now, and you owe nothing. The collection agency may have bought the deal for cents on the dollar and the money they collect doesn't go to the original vendor. It won't do you any good to pay this collection agency, since it starts up the payments again. If they continue to threaten, you have rights. Tell them to send you a bill in writing and to stop calling.
