Yes they can. Most department stores or larger business' have a collection agency at hand and they are basically "the goon squad" that tries to get their money back for them. Although they won't break your legs, they can hound the heck out of you, make life miserable and even have your wages garnished. Put this $100 in perspective: You are running a business and have millions of dollars tied up in it. If you neglected to go after $100 every time you turned around that adds up fast. It may not seem fair to you, but it is. Put it in this perspective: You loaned a friend $100 which they didn't pay back. Then you loaned 4 other friends $100 each and they didn't pay you back. That adds up to $500 and most people would flip out losing the $100. When you loan money from a banking institution you are borrowing other people's money and when you put something on a credit card you are borrowing their money as well. If you can't afford cash, then you shouldn't be using a credit card with the exception of emergencies such as your car breaking down, etc. It shouldn't be used to go wild buying clothes, cars, or just plain having fun. In the United States there are billions of dollars tied up in credit card debt and Canadians are flying in the same direction. That's why Credit Card Companies want you to join their nice little business ... they make billions of all of us! Marcy It's possible, but not likely. Collectors generally use this as leverage to get the borrower to pay what is due. This almost always pertains to things such as book or record clubs or other such types of transactions.
Only the credit bureaus the collection agency can remove a collection from your credit report. The collection agency won't do it now since it is paid and they have no reason to. You can dispute it to the credit bureaus and ask for verification on the account. They will have 30 days to verify the items or it must be removed from your credit report.
Call the Credit report agency that pulled your credit from the Bureau's and ask them to look at the back of the credit report where it says inquiries.
Yes, they can. However, most don't provided you make a payment agreement with them and honor it until the bill is paid in full.
== == Collection agencies do not have the legal right to pull your credit report unless you gave them permission.
Yes you tell the collection agency you will pay ONLY if they can give you a letter that say they will delete the item from your report it's call pay for deletion
A collection agency can report you to the credit bureau for any amount of money. There are agencies that will report for amounts under a hundred dollars.
The original creditor either sells the debt to a collection agency or the collection agency may aquire the debt on a contingency basis. At any rate once the account is in collections 30 days from the date of turn over the collection agency has the right to report the account to the credit bureau. Accounts are sent to the credit bureau via internet with encrypted files.
The collection agency typically does not report to the credit bureaus, the original lender does. Lenders report to the bureaus, collection agencies collect on delinquent debt.
No, once a collection agency relinquishes their claim to the account by selling it they must remove all negative trade lines related to that account from your credit reports. Hope this helps ST
No the collection will not be removed from the credit report. They will show it paid in full.
Unless you have given a collection agency written permission to pull a full credit report they are in violation of credit laws.
a credit bureau
File a dispute with the credit reporting agency.
Removing Paid Accounts from a Credit ReportIf you haven't paid your collection account(s) yet, negotiate with the collection agency. State that you plan to pay in full, and that you want them to agree to remove the item from your credit report. If you've paid, and the item remains on your report, go to the credit bureau and dispute the item that has been paid. It's a good chance that the collection agency has purged your record and therefore will NOT verify a dispute investigation from the credit bureau. If the credit bureau doesn't receive verification from the collection agency in thirty days, they are obligated by law to delete the item from your credit report. Only the collection agency or the credit bureaus can remove collections off your credit report. You can either negotiate with the collectiona agency or dispute it to the credit bureaus.
You should send notification to the collection agency you paid in full. They will have the status changed. Carbon Copy the credit bureau.
Yep! If the ambulance company turns your account over to a collection agency that agency might report the collection on your credit. Medical collections are the most common type of collection on a 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.