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Can a collection agency sue you for a charged off credit card?

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Wiki User
2005-09-19 23:40:58
2005-09-19 23:40:58

Yes, the term "charge off" does not indicate that the debt is uncollectible.

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No. Once it is sent to a collection agency the company has closed the credit card.

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When a credit card is charged off it means that the company has given up on trying to collect funds on the card and they usually sell the rights to a collection agency and the collection agency will try any means possible to get some money out of you. They usually will send official letters, email, and call your house phone, cell phone and work phone if they have access to this information.

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No. You can take the paperwork with the collection and send a certified copy to all 3 credit bur., and it will or should be taken off.

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If his name is not on the card,(He did not sign for the card) Then NO! And credit cards are unsecured loans.

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after 180 days of non payment your account will be charged off and turned over to collection agency

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How much can a credit card collector do with a lien on your property in Fl

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No. A collection agency has no legal authority. They can refer the account to a collections attorney who can then file a lawsuit for the debt owed. Yes! A collection agency has the right to file a lawsuit as the assigned creditor under the agreement that you signed when applying for the credit card.

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No, not unless you pay the full required payments without default, which is the same as paying for the card normally. Once you default on a payment your credit rating starts to drop.

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A collection agency is commissioned to collect money from those who have defaulted on credit card bills or loans. The agency tries to recover as much money as possible.

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If you don't pay your credit card you will get a nasty call from a Collection Agency demanding immediate payment.

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Credit Card debt is considered an Open Line of Credit. The Statute of Limitations for collection in Delaware it is 4 years. That would be from the last use or payment.

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READ YOUR CREDIT CARD AGREEMENT If you fail to pay your credit card, you defaulted on the loan, it will go to a debt collection agency, and you can be taken to court by the credit card company, resulting in a judgment against you.

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It would depend on the state laws that are apply to collection agencies and collection procedures. In many states they can add fees incurred for the collection of a debt and interest on the amount of the debt itself.

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Only if you get an agreement from them in writing. How could the collection agency have any affect on the original credit card issuer? You are dealing with two completely different accounts, one for the credit card and the other that was purchased as a bad debt. They cross reference each other on your credit report, but otherwise are unrelated.

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When You owe money to a collection agency via: bank, credit card, hospital, ect... for not paying them the collection agency will take the money directly from your paycheck if you continue to not pay.

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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.

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Technically seven to ten years. When a credit card goes into default it gets written off on the creditors taxes as a loss and gets sold to a collection agency for 10 to 20 percent of the original loss. Down the line it gets sold from collection agency to collection agency.

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If you have a collection agency working for the credit card company then it is them you need to make payments too as it is now too late to pay the credit card company. They have sold the debt to the collection company and you will have to pay any charges on top of the debt now also. Try not to let it get that far in future, but that's easier said than done.

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Can a collection agency garnish wages in the state of Oregon?

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Generally, the person that signed up for the credit card is responsible. If any users were added to the account, they are also responsible. This include joint accounts. You cannot inherit credit card debt. So, do not believe a collection agency when they tell you that. See the FDCPA for your rights in debt collection.

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Yes, a collections law firm, is still defined under the FDCPA as a collector. They are required to follow the same regulations that apply to a regular collection agency.

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Yes Once a collection account is reported to your credit history, its origin no longer matters. If money is owed and it gets listed with a credit reporting agency as a collection account, it affects the main factor in your credit score: Payment history. See www.myfico.com/CreditEducation/WhatsInYourScore.aspx for details of a FICO score.

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Your credit card because once you pay it off, the collection agency would quit annoying you all the time. They would be satisfied because they will get a part of the money you pay to your credit card. :)

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If you default on a credit card, the first thing that will happen is they will report you to the consumer credit agencies. They may sell your account to a collection agency or garnish your wages. If it is a secured debt, they will take back your property.


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