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Yes. When creditors charge off accounts they send them (or sell) to a collection agency. The collector can request the debtor's credit report show that the account has been turned over for collection procedures.

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โˆ™ 2006-03-04 14:08:27
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Q: Can a collection agency report and collect a debt that is shown as a charge off from another creditor?
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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.

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.

What is does it mean for an original creditor to recall their collection?

Recall of a debt by a creditor is when the original creditor asks for the debt to be returned to them after they have sold it, often to a collection agency. This may occur if the debt has not been collected for a certain amount of time, and the debt will be sold to another agency to collect, or if the debtor offers the original creditor a settlement.

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 is the normal time before a creditor can use a collection agengy to collect a debt?

Generally a Creditor will wait 180 days from the date of the last payment before passing the account to a Collection Agency

If a credit card does a charge-off and sends it to a collection agency can the original creditor still try to collect?


How long does a creditor have to collect an outstanding car insurance bill?

they usually call on it for six months then sell it to another collection agency. more then likely thell call for atleast a year

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.

What is OSI collection services inc?

OSI Collection Service is a "Third Party" Collection agency. Collection agencies buy your information from the original creditor in order to collect on a debt. What this means is that they make money if you pay anything on this debt, not only from the original creditor, but a commission on the payment that you make on that debt.

Can a collection agency collect from a trust?


Who sent you to the collection agency?

I presume your question is "how did your debt wind-up at a collection agency". There are 2 methods: (1) the original creditor sold your account to an agency for a price that is a fraction of the outstanding balance on the account (so the collection agency now is your creditor legally), (2) the original creditor contracted with a collection agency to get you to make more payment on the debt than you have while interacting with the original creditor only. In either case, a collection agency is a company that makes a profit by getting debtors to make a payment of sufficiently greater amount (than they had been making to the original creditor) such that a greater return can be realized from this continued effort to collect the debt, and collection agencies usually are profitable companies. In my personal opinion, the first method (# 1 above) is used in the vast majority of delinquent debt collection situations. Any creditor organization of at least medium business size has enough staff to attempt to coax the debtor to make more payment, so there would be no reason to contract a collection agency to try again. That latter point being understood, collection agencies sometimes resell a debt account to another collection agency when they give-up on trying to get more payment from the debtor (and the account has not been settled).

Is it legitimate if a collection agency sent you a letter stating that their client would settle for a certain amount if paid by a certain date and they want you to fax the letter to them?

Before making any commitments to a collection agency, you should get confirmatio from the original creditor that the collection agency has legal authority to collect at settle the debt.

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.

Do you still need to pay a company if you are paying a collection agency for the charged off debt?

No, as they are the legal agent of the original Creditor and the arrangements made with the collection agency are binding on the original Creditor.

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.

Once a debt is given to a collection agency can you get the creditor to take it out of the creditor's hands?

Once a debt has been sold to a collection agency, that agency owns the debt. Now it would be between you and the collection agency to settle the debt; the creditor has washed his hands of the matter. If you think the debt collection agency isn't working within its legal limits and is harrassing you, check out the Fair Debt Collection Act, which outlines was a collection agency can and cannot do.

Can a creditor or debt collection agency access your business bank accounts for debt collection?

With a judgment and execution, the sheriff can. Without it no. But the collection agency can never legally access it. However, there are ways to do it illegally. Can the creditor do it... ? If you have a citizens acct and a debt with them, then yes, they can legally access whatever accounts you have with them. But a creditor can't just get access to you bank accounts. (I own a collection agency)

Does the creditor or the collection agency get the money you pay on a debt?

When a collection agency takes on a bad debt, in many cases they are "puchasing" the debt from the original creditor. When you then pay off the collection agency, your money will stay with that collection agency. This is the most common scenario, but some companies do have their own internal collection agencies (Capital One, for example, has their own collection subsidiary in Idaho - the Westmoreland Agency). Hope this helps!

Can collection agency collect on vetrans?


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.

Do you need to include account numbers for both the collection agency and the original creditor on your bankruptcy form?

Include the original account number if you are including the original creditor. Include the account number for the collection agency if you do not have the orignal creditor information and are including them as "Care Of" for service.

Can a collection agency collect late fees interest?


What purpose does the International Debt Collection serve?

The International Debt Collection Agency is a debt collection agency designed to collect debts from debtors that have not paid for goods supplied or services rendered. Debt collection agencies are designed for debt recovery, and speak on behalf of the company to which the debt is owed to work out a settlement between the debtor and the creditor.

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

Can a collection agency sue you for money in any state How can they do that if the original company wrote it off Is this legal?

When you default on some debt, the original creditor writes it off. When they write it off, they usually sell it to collection agency. Since the collection agency bought it, it becomes theirs. If they try to collect and you don't pay, they can sue you. Learn your rights by reading up on the FDCPA.

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