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Can a collection agency obtain a judgment for a charged off credit card once the 7 years have passed?
Wiki User
∙ 18y ago
The 7 year designation relates to the time a negative entry can remain on a credit report not to collection procedures. A collection agency does not have the legal power to sue someone unless the agency is a collections law firm. A creditor must file a lawsuit in the state court where the debtor resides, win a judgment against the debtor and then use the judgment to collect the debt. Only an attorney licensed in the state where the debtor lives can file a lawsuit; the one exception being UCC arbitration which can be appealed. It is possible that the state SOL for debt in which the person lives has expired and the collector can no longer pursue litigation. NEVER accept what a collection agent claims as the truth. Collectors work on commission and some will say anything, and often violate FDCPA and other consumer laws. NEVER give a collection agency financial information or agree to any terms other than those submitted in writing. ALWAYS become informed of your legal rights in relation to the laws of the state of residency. The law allows a debtor to send a letter of "cease and desist" to stop a collector from contacting them or their family members.
Wiki User
∙ 18y ago
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Can a credit card debt that was charged off and sold to a collection agency be reported on your credit report?
Yes.
If you settle an old credit card debt with a collection agency paying the negotiated price in full will the collection agency remove the collection from your credit report?
No the collection will not be removed from the credit report. They will show it paid in full.
Are you still liable for a balance that appears on a credit card that was charged off even if you paid the collection agency?
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.
What does it mean when a credit card is charged off?
When a credit card is charged off it means that the company has given up on trying to collect funds on the card and they usually sell the rights to a collection agency and the collection agency will try any means possible to get some money out of you. They usually will send official letters, email, and call your house phone, cell phone and work phone if they have access to this information.
What does it mean when your credit report states that you have a paid closed collection account on you credit report?
The original account with a normal credit company went to a third party collection agency. Only after it went to the collection agency was the debt paid and then the account closed.
Can a collection agency put a judgment on your credit?
== == Yes they can. Happens all the time.
Can a collection agency for a parking ticket be put on your credit report?
It wount be a collection aggency. But the city can put a judgment on your credit report that will effect your credit score.
Can a credit card debt that was charged off and sold to a collection agency be reported on your credit report?
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.
Can a collection agency file a judgment on you for credit card debt in Texas?
Yes, a collection agency can file a judgment against you for credit card debt in Texas if you fail to repay the debt. This could result in wage garnishment or liens on your property. It's important to address the debt or negotiate a repayment plan to avoid legal action.
Is it better to pay a collection agency or let them write the debt off?
if you pay the collection agency you can get back in good credit standings , ifyou dont they can get a judgment against you, and garnish your wadges , if they do a charge off it stays on your credit for up to 10 years know and it is harder to get credit with a charge off
How do you find out from a collection agency who sent you to them for collection when you never was notified that you were in collection you discovered it on your credit report?
File a dispute with the credit reporting agency.
Can a private debt collection agency garnish your wages for a non-federal debt like credit card debt?
There must have been a judgment obtained and then they can act on the judgment and attach wages.
If you settle an old credit card debt with a collection agency paying the negotiated price in full will the collection agency remove the collection from your credit report?
No the collection will not be removed from the credit report. They will show it paid in full.
Can a Credit Card Collection Agency put a lien or judgment on your credit and if so what does that mean?
If the collection agency works in tandem with a law firm (which is the case most of the time) then the answer is yes. What does this mean? If a judgment is granted by a judge, then it is the age old saying, pay me now or pay me later. Anytime your credit is ran (over the next 20 years) then it will show and credit will not be granted until the judgment is satisfied. Keep in mind if a judgment is granted interest probably continues to accrue until satisfied. If at all possible, it is best to inter into a stipulation agreement with the firm and work it out.
Are you still liable for a balance that appears on a credit card that was charged off even if you paid the collection agency?
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.
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
