Can a collection agency still add interest to a charge off?
Yes, as well as any subsequent legal fees.
If a company is no longer operating what will happen if you dispute a charge off that is with a collection agency?
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…
Charge offs are accounts that have been written off by the creditor as uncollectable. The debt owed is still valid and can be collected on either by the original creditor or by a collection agency. You can only erase charge offs by disputing them to the credit bureaus or negotiating the removal by the original creditor.
If you are making sporadic payments to a collection agency and they cash them can they still sue the cosigner?
If a creditor uses a collection agency to collect on a debt do you still have to receive some kind of statement?
If the collection agency didn't collect anything from you do you still owe the collection agency anything in the state of Wisconsin?
Are your rights the same if your credit card debt went to a legal firm and not a collection agency or is a legal firm considered a collection agency?
Can a credit card company still send you monthly bills and charge you finance charges on your account if they sent it to a collection agency?
If Company A sends your acct to a collection agency but you decide to pay off Company A do you still owe the collection agency money?
How do you remove a paid collection from your credit report if you paid even though disputed and did not agree with it and provided proof to original creditor who still sent you to a collection agency?
Is it better to pay original creditor who still owns account or debt collection agency who is collecting for original creditor?
Paying the collection agency will clear up your account much quicker and some creditors will return the payment to you if you send it directly to them. Most creditors sign a contract with a collection agency and cannot discuss the debt with the debtor once they place it with the agency, they must refer all correspondence, communications and payments to the agency for the life of that contract.
No, a "charge off" does not mean the debt has been cancelled by the creditor, the debt is still valid and collectible. The term simply indicates that the creditor is removing the delinquent account from their "books" and will pursue other means such as referring it to a outside collection agency, selling it to a third party collector or using litigation in the form of arbitration or a civil suit to recover money owed.
If you offer to pay a lessor amount on a hospital bill then was previously agreed upon can they still send the account to a collection agency?
If a debt has been paid to the original creditor and they recall it from their collection agency will a dispute succeed in having it removed from the credit report?
If the bank does a charge off for a vehicle because they can not locate it can it still be repossessed later by a collection agency?
Answer yes, if you are still in possesion of the vehicle and you have not paid, they will re-po the vehicle. Answer So can you still make the payments to the bank? In order to get out of repossion status? Answer Yes, a collection agency or other second/third party owns the note and they can pursue reposesion efforts. To answer the question aboove; It depends on the bank if they will allow payment arrangements. I…
This is on a car, and you are not paying the balance of the price of the car in full, then yes. You are buying on installments. It is common financial practice and has been for about the past three thousand years to charge interest. Legal, ethically, and morally they can charge you interest. Where it becomes still legal but less ethical or moral is the amount of interest they charge you.
A collection that is removed from your credit report be gone off the report but the collection agency said you still owe on account?
Well, check your states statute of limitations. If the SOL is up then tell the company to stop contacting you are you will sue them for harassment based on the fact that they have no claim under your state's SOL. The collection agency will try to say you still "owe" and I guess you do if it is your debt but you no longer have any legal obligation to pay.
If you paid a collection agency in 2004 for a hospital bill you never received in 2000 in Florida and the hospital has resold the same debt to another collection agency in 2007 what can you do?
You get a letter from the paid collection agency and send it as proof of payment to the new agency. In the mean time, you call the new agency and dispute the claim of debt. If they receive the letter and still harrass you, then you have the right to sue and turn their neames over to the BBB. This is only if you paid in full. If you settled, then the next agency can…
If the payment amount and other terms that were agreed upon are being met, it would not be in the best interest of the creditor to place the account in collection status. However, if there is a significant arrearage or the terms of the agreement are not being honored, the creditor may take such action in order to change the account status for taxation issues and other purposes.
Once you give your lawyer all debt information will collection agencies and credit card companies still charge late fees until it is settled in court?
Yes, a charge off does not mean a debt is invalid nor uncollectible. The term is used by creditors to indicate a debt that they believe is not collectible under normal procedures and they are clearing the debt from their books for taxation and operational purposes. The OC will then refer (or sell) the debt to a collection agency or collection attorney for further action.
Can the collection agency garnish my check is i skipped a payment but then made two payments and be came current with my agreement with them?
Depending from state to state, most collection agencies cannot garnish your check unless you have signed for them to do so or they have a court order to do so. If you have signed I believe you can still rescind that agreement if you are current on payments. You can consult an attorney free of charge over the phone if necessary, find one in your area.
If you took a college course and only gave your name and address can the college still send it to an agency for collection?
Answer Yes, if you have an outstanding balance due and especially if you provided your social security number on your application. The collection agency will then identify any accounts that have additional pertinent information such as social security number (if not provided), phone numbers and alternate points of contact. The agency will then attempt to collect the outstanding balance. If they fail to collect the debt, the delinquent account will be listed to your credit…
Are you still liable for a balance that appears on a credit card that was charged off even if you paid the collection agency?
A charge off is an account that the creditor has decided not to collect on. When they are listed as a charge off, that does not mean anything to you except a ding on your credit report. You are still obligated to pay the debt. What usually happens is a third party debt collection agency will make arraingments with the original creditor to come after you. This can be a double dip on your credit…
Charge offs' are when a creditor writes off a debt as a loss which usually take place 180 days after the initial missed payment or delinquency. Being as though the debt is still owed, the original creditor sells your debt for pennies on the dollar to a collection agency who tries to enforce collection of that debt which they now own or have been assigned. So to answer your question it can be paid anytime…
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…
How can you remove a medical collection that is no longer listed with the collection agency but has been returned to the original creditor?
I assume this means removing it from the CR. In which case you can't. It may eventually be updated to show the original creditor has reassumed the account. However, it is still a debt owed and still reportable. If a collection account has "been returned" to the original creditor, then the collection agency would not be able to provide verfification of the debt should this be requested. You could write a letter of dispute to…
If you had ID theft and the items were deleted from one credit bureau's file can a collection agency still call you?
Unfortunately, yes. As the lender took a loss on the account, it was probably not coded right when they did the loss--and even it they did, code it right-- the collection agency bought a bunch of accts for a few cents per dollar. Those accounts were not search thru to see if they should have been sold or not. You need to call the collection agency, ask for their fax number and tell them you…
If a client hires a collection agency but then cashes my payment can the collection agency still collect their fee?
Technically, yes if there is a signed contract between the agency and the creditor which expresses in detail the relationship in terms of file assigments. For example, many contracts agencies use clearly spell out the right of entitlement once the debt has been physically assigned. Thus, if in the above question, the debt was assigned to the agency, the agency has the right to ask for its commission cut. However, if the debt was not…