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Yes. The original creditor more than likely put the item on first, then sold the account to a collection company who after unsuccessfully trying to collect the debt reported the item to the credit bureaus. So to you it was the same account or item but now the debt has transferred to a new company.

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โˆ™ 2015-07-14 16:09:35
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Q: Can a collection agency put the same item on your credit report that has already been reported by the original creditor?
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Can a debt collector in the state of Michigan collect on a debt if they have already charged it off?

Yes, the term is used to indicate a debt being written off as uncollectible by the original creditor. The debt however remains valid and subject to collection by a collection agency working for the original creditor or a third party that buys the account.

Can you be sued by the original creditor if they have already sold your case to a collection agency?

If they've sold your case to a collection agency, they have been "paid" for your debt with the money the collection agency gave them for your case, so, no, they can't legally sue you - as far as I know.

How can you remove a collection agency entry from your report if you have paid the original creditor and there is no need to deal with the agency?

Send proof of payment to the original creditor and the information being reported against you by the collection agency. Request that they make sure the collection account is withdrawn and their original account is listed as paid. Upon receipt of that letter, send a dispute letter to the credit reporting agencies with your proof of payment. Follow up until your credit report is correct. updated entry: This is pretty good, but one problem is that neither the creditor nor the collection agency will be all that motivated to do anything since you have already paid the debt. But is really your only option at this point. Keep doing this over and over (every 2-3 months). I am always surprised, but sometimes things get removed on my 3rd or 4th time.

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 you use a debt consolidation company if the credit card companies have already sold your accounts to collection agencies?

Yes, but neither a collection agency nor the original creditor has any legal obligation to communicate or accept the terms offered by a debt consolidation agency.

Should you pay off a debt that is already listed on your credit report as charged off?

A debt being designated as a "charge off" does not mean the debt is not valid and collectible. Collection of the debt will still be pursued either through an agency contracted by the original creditor or a third party purchaser. The creditor/collector has the option of filing a lawsuit against the debtor to recover monies owed as well as using common collection practices such as telephone and written correspondence.

How many times and how often can a collection agency post an account to your credit report as a charge off?

A collection agency cannot charge-off an already charged-off account. The reporting of the STATUS of the account AS a charge-off can be reported every time they update with the credit bureaus. The 'date of status' must be the date of the ORIGINAL charge-off.

Can the bill collector who bought the bad credit card charge interest over the interest that has already accumulated before?

Collection agencies can only charge interest if you agreed to it in your original contract. If they actually bought the debt they shouldn't be able to charge any additional interest on it since you did not sign a contract with them allowing them to do so. Please keep in mind that not all collection agencies buy debt. Some are still collecting on behalf of the original creditor which means interest and fees could continue to accrue.

If a car is already charged off on your credit how long do they keep looking for it in California?

Until they find it. If it is charged off on your credit report then the creditor sold the note to a collection agency who will hire a repo-man to track down the car so they can recover it and sell it to make the money back that they paid to creditor for it.

Can a creditor's lawyer place a lien on a financed vehicle in the state of Texas?

When you signed the contract to finance the vehicle, the creditor put a lien on the vehicle. In the rare event that this was not done, it can be done later in some cases.Also, a creditor can place a lien on an already financedvehicle if there is more equity in the vehicle than the amount of the original loan. Generally, a creditor who obtains a judgment lien against you can arrange to place that lien against any property you own in order to satisfy the lien.

Can a collection agency put a lien on your property?

Actually I work for a collection agency. Yes, they can. If a debtor refuses payment, a collection agency will initiate legal proceedings. Step 1 is to get the judgment, this can be done at anytime within the statue of limitations. Then comes the lien and often a motion to garnish wages. There are only 5 states where you can't garnish wages for creditor debt: NC, SC, PA, FL, TX. Florida because of the head of household protection, but for all intents and purposes it's corret. The "collection" agency isn't doing it, it's usually an attorney on behalf of the original creditor, but it's arranged THROUGH the collection agency so they can get their cut. No! Only if there was already a judgment in place. Even if the debt went through "arbitration", a judgment would still have to be perfected and recorded at the county seat.

How can you get a paid collection off your credit report?

You have 3 options: You can write a letter of dispute to the credit reporting agency. By law the CRA has 30 days to verify the item in question. If they are unable to verify, the account is shielded from view on that credit bureau. You can request that the original creditor or collection agency withdraw the account from the credit bureaus. This is generally not accomplished on accounts that have already been paid. You can wait 7 years from the time the account was last used for it to be shielded from view.

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