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

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โˆ™ 2005-09-19 23:40:58
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Q: Can a collection agency sue you for a charged off credit card?
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Can a credit card debt that was charged off and sold to a collection agency be reported on your credit report?

Yes.


Can a collection agency charge you with credit card fraud?

No.


Can I use my credit card after I pay off the collections agency?

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


If you settle an old credit card debt with a collection agency paying the negotiated price in full will the collection agency remove the collection from your credit report?

No the collection will not be removed from the credit report. They will show it paid in full.


What does it mean when a credit card is charged off?

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.


Are you still liable for a balance that appears on a credit card that was charged off even if you paid the collection agency?

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.


Can a collection agency sue for unpaid credit card debt?

yes


Is your husband responsible for your credit card debt in ill if it is at a collection agency?

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


What happens in Florida if you quit making credit card payments?

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


FDCPA in Florida protect home from credit card collection agency?

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


Can a collection agency file a judgment on you for credit card debt in Texas?

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.


Will paying a charged off credit card debt to an outside collection agency help your credit rating?

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.


What kind of service does a collection agency provide?

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.


What is the state statue of limatation for collection a charged of credit card in the state of Delaware?

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.


How do you use the word collection in a sentence?

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


What happens if you don't make your credit card payment?

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.


When a credit card account has been charged off can the collection agency charge you additional fees and interest?

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.


Should payment be sent to the credit card company or the collection agency?

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.


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.


What is wage garnishing?

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.


How long do unpaid credit cards stay on your credit report in NY state?

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.


If a collection agency agrees to delete an item from your credit report will the entry from the original credit card company be deleted as well?

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.


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

yes


Can a credit card company garnish wages in the state of Oregon?

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


When a collection agency buys a debt from a credit card company does a new statute of limitations start from the day it was purchased or does the collection agency's statute remain the same?

The statute of limitations starts counting immediately when you made the last payment to either the credit card company or the collection agency. If you ever make a payment to either of them the statute of limitations will start over. If you have not made any payments to the credit card company recently and the credit card company sells the debt to the collection agency, the collection agency's statute of limitations will be from the date that you last paid the credit card company. Furthermore, if the statute of limitations is over and the collection agency continues to keep collecting the debt, you can send them a letter (certified is the preferred method) to stop all contact with you. Under the Fair Credit Reporting Act (FCRA), they would be required to stop immediately upon receipt of the letter (unless they are taking legal action in a court then they can send you legal notices only). If they do not stop, you are entitled to collect monetary damages as outlined in the FRCA. This does not stop the collection agency from reporting to your credit report. Your credit reporting falls under a different set of rules which basically removes most collections debts (except for court judgements) after 7-10 years.

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