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They can TRY to collect the monies. It doesn't matter if you don't have the records, what matters is DOES THE COMPANY YOU BOUGHT THE PRODUCT FROM STILL HAVE THE RECORDS TO VERIFY!! 1)Google "clean credit history" and find a Cease and Desist letter to print up and send cert. mail to the collection agency. This automatically stops them from contacting you again and sends the debt back to the original company. 2)Request a free copy of your credit report (I believe the agency the govt set up is freecreditreport.com). DO NOT PAY FOR IT! You do NOT need to know your credit score, so if you can get the 3 reports for free, but the scores cost you, just get the reports. 3)Find out which credit bureau(s) has this debt listed. 4)Send the bureau(s) a letter saying this debt is not a true debt and for them to verify it with the company who claims it is a valid debt. (This letter can also be found through step 1). If the original company can verify the debt then crud-outta-luck. It may be possible for them to garnish your wages but that involves a lot of hassle and they generally won't do it. If they can't verify it the debt is removed forever. Also google "Fair Credit Act". Good luck. Personally, I wouldn't pay them jack-nothing.

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โˆ™ 2006-12-08 07:03:39
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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

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Q: Can a collection agency collect monies on a purchased debt from 1988 even if you don't have records to verify it?
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Related questions

Can a collection agency sue you?

If a collection agency has either purchased the debt from the original creditor, or obtained an assignment of it from the original creditor (to collect on its behalf), generally, it can sue for collection.


Can a collection agency collect from a trust?

no


Can a collection agency in America collect monies outside the jurisdiction for small amounts -such as the annual maintenance fees on a timeshare?

a collection agency can collect where ever they need to. they purchased the debt from the timeshare company (to use your example). what i don't know is if they can impact your credit if for instance you were in the US and the collection agency or timeshare company is out of the country.


Can collection agency collect on vetrans?

yes


Can a collection agency collect late fees interest?

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


Can a collection agency collect for medical bills from a juvenile?

Yes, they can collect from the parents or legal guardian.


Can an out of state collection agency collect in Wyoming?

Yes if they are licensed to do so


Can a collection agency prosecute someone on supplemental security income?

A collection agency can collect from someone on social security or disability. If you incurred a debt, you can be prosecuted.


If the collection agency didn't collect anything from you do you still owe the collection agency anything in the state of Wisconsin?

Of course. If it's an unpaid debt, the collection agency owning the debt may try to collect it. And beware, they can track you down no matter what. However, they have to abide by certain rules, which are defined in the Fair Debt Collection Act.


In Arkansas can a collection agency sue you if the original creditor accepts payment on the debt?

If the debt was sold to a collection agency and the original creditor accepted payment AFTER the debt was sold, the money does not belong to them. If, however, you paid the debt and it was mistakingly sol after that payment, the collection agency can't try to collect. If you have proof of payment, forward it to the collection agency and deman in writing that they cease trying to collect this debt.


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.


Can a collection agency collect outside of their licensed state?

Only if they are licensed in another state and only if that state requires a license. If no license is required, any agency can collect there.


What is a second party collection agency?

A second party collection agency is an agency trying to collect a debt that is owed to someone else. If for example, you owe on a store credit card from ABC store, they may turn the debt over to another agency that has nothing to do with them. This is a second party collection agency.


If you settled a debt with a collection agency can another collection agency sue you for the remainding debt?

NO. Once you enter into an agreement with a collection agency no one else can collect against that debt. If you have other debts outstanding not covered in the agreement then another agency may be authorized to try and collect those debts. Collections agencies do not sue people. They can ask the courts to award a judgment or wage garnishment in order to help collect bad debt.


Can a collection agency try to collect a debt after 7 years?

They can send you a letter, but they cannot sue you.


Can a collection agency try to collect on 9 year old bank account fees in California?

NO NO NO


If a creditor uses a collection agency to collect on a debt do you still have to receive some kind of statement?

No. The collection agency will validate the amount for you if need be, but the creditor no longer owes you the courtesy of a statement.


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.


Can a collection agency collect from someone on disability And if not how do you stop them?

I used to work for a collection agency, and as far as I remember, no you can't. That would be like trying to garnish a social security check. I don't think they can do that.


Can a collection agency try to collect a debt that has been discharged under chapter 7?

No, that's harrassment.


Can collection agency collect or report if charge off accounts are deleted after 7 yrs?

Attempt to collect: yes they can attempt to collect long after the 7yr tradeline expiration date. Report: no since the very first account default triggers the 7yr deletion timer not when the collection agency receives it from the original creditor.


How many days must the system of records notice be published before an executive agency begins to collect personally identifiable information for a new system of records?

The system of records notice must be published 40 days before an executive agency may begin to collect personally identifiable information for a new records system.


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.


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