answersLogoWhite
Ask
Auto Loans and Financing
Repossession
Debt Collection

Can a collection agency refuse monthly payments on a repossessed car?

606162
Answer

Top Answer
User Avatar
Wiki User
2015-07-15 21:40:25
2015-07-15 21:40:25

YES, they can refuse. Its their money and they can demand it any way way they want to. However, they only get it like YOU give it to them. LOL Fin comp never gave oppor to pay back. ???? What do they have to do to be giving you 'opportunity"??

1
0

Related Questions

User Avatar

Personally speaking, it is better to settle with a collection agency rather than making monthly payments. Theres only one ceveat....you must pay the collection agency in full. Example, lets say you owe $1000 to a credit card company. A collection agency will say, pay $600 NOW and this will settle the balance. So, if you dont have $600, its a 'catch-22'. You are better off making the monthly payments until the $1000 is paid.

User Avatar

If the debt was properly assigned by the original creditor, yes. If you are making payments to the Original creditor than ask them to pull it back from there Collection agency, then dispute with the CRA's and when they update it should delete

User Avatar

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

User Avatar

A collection agency is not hired to get the amount paid in payments they are paid to get the amount in full. At this point the place you originally owed the money to and did not pay may or may not be willing to take payments being that they have now hired the collection agency to get the money from you. YOu can call the original creditor and tell them you are willing to pay and if they say no then you must pay the collection agency, I have never heard of any of them taking payments. When they get hired they try to collect as much as possible of the owed amount so they can get a higher commission. They dont want payments they want money in full....


Copyright © 2020 Multiply Media, LLC. All Rights Reserved. The material on this site can not be reproduced, distributed, transmitted, cached or otherwise used, except with prior written permission of Multiply.