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No. You can take the paperwork with the collection and send a certified copy to all 3 credit bur., and it will or should be taken off.

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โˆ™ 2005-12-11 05:11:18
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Credit and Debit Cards

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The law is derived from three main sources what are they

If there is an erroneous payment then

These funds last 5 years have limited use and cannot pay for new obligations

How do you know which transactions are awaiting your approval

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Credit and Debit Cards

21 cards

The law is derived from three main sources what are they

If there is an erroneous payment then

These funds last 5 years have limited use and cannot pay for new obligations

How do you know which transactions are awaiting your approval

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See all cards

Math and Arithmetic

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Please Evaluate this algebra expression -4 -3

Joe borrowed 8000 dollars on a one year note at 13 percent how much will joe owe when the note comes due

How much time will a 500 investment need to earn 100 in interest at a rate of 10 percent per year

1000 dollars in a savings account pays 7 percent interest per year The interest earned after the first year is added to the account How much interest is earned on the new principal the following year

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Q: Are you still liable for a balance that appears on a credit card that was charged off even if you paid the collection agency?
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Related questions

Can you be charged interest on medical bills by a collection agency?

Yes, unfortunately a collection agency can charge interest and other fees when they obtain a debt.


Can a collection agency increase interest on a charged off account?

Yes.


Can a debt collection agency legally identify themselves a 'collection agency' when placing inquiries on your credit report when the debt in question was charged off over a decade ago?

No.


You had a credit card account which they charged off and sold to a collection agency ca Now you have that charge off which carries a balance and a CA collecting on the same debt What could you do?

It is unlikely that the account was "sold" to a collection agency. Rather, the agency was contracted to recover the debt. The "charge off" of the account only affects the original creditor, and represents a loss reported against the company's taxes. If the collection agency has attempted to recover the debt and has been unable to, the original creditor will likely pull back the account and refer it to another agency in hopes of greater success.


Can a collection agency report a collection and then not update it?

In Part: No it has to be updated if the balance is revolving and going up or down monthly.


Do you still need to pay a company if you are paying a collection agency for the charged off debt?

No, as they are the legal agent of the original Creditor and the arrangements made with the collection agency are binding on the original Creditor.


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.


Do you have to pay the original balance on account that has been sold to collection agency?

yes


If original creditor charged off then sold it to a collection agency can they both report the debt where the same debt appears twice on your credit report?

no.This is in violation of The Fair Credit Act and The Fair Debt Collection Act.Report this to the FTC and your state attorney office.then look for a lawyer to sue them.


When an account balance is written -off what happens to the account balance?

It goes to a collection agency, prepare to get annoyed and harassing phone calls


When an account balance is written-off what happens to the account balance?

It goes to a collection agency, prepare to get annoyed and harassing phone calls


If something has been sent to collection can the collection agency charge you interest?

If the original creditor charged interest then the collection agency will continue to accrue interest at either your states legal rate or whatever you agreed to in the original contract until the debt is either paid or sold to another collection agency or placed with an attorneys firm for legal litigation.


Does a collection agency have to accept what you can afford to pay?

Absolutely not. You, as a debtor, do not get to set the terms of repayment. By the time the collection agency gets a case, typically, the entire balance is due at that point. The good news, however, is that when a collection agency sues you, a good consumer attorney can likely defend your rights with great success. For more answers to collection agency questions, please visit my website at www.gregartim.com


Why original creditors sale accounts to a collection agency?

Original creditors sale their accounts to collection agencies when the account has been past due and they have not effectively collected. At that time, the original creditor will charge off the balance from their accounts receivable and turn the account over to a collection agency. When the collection agency collects the debt, a portion of the amount received is paid the the collection agency and the remainder is returned to the original creditor as profit.


Why would a collection agency not give you the balance of your charge off in writing?

Only the company can answer that question.


Can a credit card debt that was charged off and sold to a collection agency be reported on your credit report?

Yes.


Is it legal for Practice to add a fee to patienct balance before they send it to a collection agency in the state of Florida?

no you can not


What is collection agency?

A Commercial Collection Agency is and agency that collects debt on behalf of their clients, same as a consumer collection agency, but a commercial collection agency collects business to business.


What is commercial collection agency?

A Commercial Collection Agency is and agency that collects debt on behalf of their clients, same as a consumer collection agency, but a commercial collection agency collects business to business.


Find out if a collection agency is legitimate?

I recieved a call from a collection agency but not able to find any info on the company. How do I know its legit? Company is Action Collects. Company was very rude with a customer that is willing to pay balance in full.


How do you find out the balance of your probation fines?

Contact your probation officer. If you are off probation with an outstanding balance, simply call the office and ask. Likely as not, should the second scenario be, you will be contacted by a collection agency and they can give you the balance. However, if dealing with a collection agency, and you choose to pay them, keep meticulous records of your payments, and when you send your last payment, write this, "Paid In Full," on the endorsement portion of your check or money order.


Can a collection agency charge fees or interest in new jersey?

Collection agencies can't add charges. Fees and interest charged to your account are per the terms of your contract with the creditor.


Can a collection agency sue you for a charged off credit card?

Yes, the term "charge off" does not indicate that the debt is uncollectible.


Can a collection agency sue for a 'charged off' debt?

Yes, the term "charge off" does not render the debt invalid or uncollectible.


How do you satisfy an unsatisfied judgment after another collection agency bought the account from the first collection agency that originated the judgment?

you "satisfy" a judgment by paying balance in full or settlement. but understand that once a judgment has been issued by a court then there can be no one else that does this.