0
Of course it can unless there are provisions in your contract with a collecting agency which make it impossible.
What else can I help you with?
How do collection agencies get addresses?
Collection agencies have a couple of ways to get your address. They can either get your original address from the original creditor or by skip tracing.
What is OSI collection services inc?
OSI Collection Service is a "Third Party" Collection agency. Collection agencies buy your information from the original creditor in order to collect on a debt. What this means is that they make money if you pay anything on this debt, not only from the original creditor, but a commission on the payment that you make on that debt.
Do collection agencies have to have a written agreement between themselves and the original creditor?
No they don't, usually the OC hires or farm out their accounts that are in collection status to CA's.
Can collection agencies remove items from your credit report?
No, collection agencies cannot remove items from your credit report. Only the credit bureaus or the original creditor can remove negative items from your credit report.
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.
How do i find out who the original debt is owed to if two colection agencies are trying to collect?
Ask the collection agencies. They have to reveal who the debt was incurred through, The real question is why are there TWO agencies collecting the same debt? Be sure that there aren't two separate amounts owed to the original creditor.
How do collection agencys find your work number if not on record?
Collection agencies buy defaulted accounts from original creditors. The original creditor supplies all the information to the collectors that was obtained upon the opening of the account. (Name, SSN, place of employment, etc.).
Do collection agencies have the right to collect payments since you never signed or agreed to a contract with that company?
Yes, they are contracted to collect on behalf of the original creditor and it's contracts with you.
Do you need to include account numbers for both the collection agency and the original creditor on your bankruptcy form?
Include the original account number if you are including the original creditor. Include the account number for the collection agency if you do not have the orignal creditor information and are including them as "Care Of" for service.
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.
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 is does it mean for an original creditor to recall their collection?
Recall of a debt by a creditor is when the original creditor asks for the debt to be returned to them after they have sold it, often to a collection agency. This may occur if the debt has not been collected for a certain amount of time, and the debt will be sold to another agency to collect, or if the debtor offers the original creditor a settlement.
