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Answered 2007-02-02 01:52:23

If the reposssesion did not net enough funds to pay off the total amount of your debt (which would have increased by the costs of the repossesion, penalties, interest, etc), then the loan (your obligation) was not cleared by the repossession. Presumably the agency owns the right to collect that and they can use any legal method to do so. Court would seemingly be one.

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If vehicle was repossessed in 2004 but ex spouse stopped paying consistently in 1999 What date must the collection agency report to the credit bureau?

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.


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.


Can a collection agency Garnish if paying not full amount?

no


How do you get rid of the money that you owe from collection agency without paying them and become good credit again?

how to get rid of the money that you owe from collection agency without paying them and become good credit again


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.


Is a collection agency obligated to remove debt from your credit report?

No! The only obligation of the collection agency regarding a debt is to accurately report the debt...i.e. balance outstanding, current status, and payment history. However, if you are paying or contemplating paying a collection agency, it would be wise to negotiate a positive outcome...i.e. the total removal of the account from your credit profile in exchange for payment. This should be negotiated prior to paying the collection agency and the agreement should be in writing.


Can your driver's license be suspended for not paying the balance of a loan after the vehicle was repossessed?

No. Absolutely not. Your driver's license cannot be suspended for not paying a loan or the balance of a loan, repossessed or not even if you get threats from the loan company.


How do you raise your credit score after paying a collection company?

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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.


My account balance with American express has been turned over to a collection agency. Does American express over a reduced payoff as a settlement?

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What if a collection agency is trying to collect a debt that is in dispute?

Paying a collection agency may not be the best way to repair your credit or protect your privacy. There are situation that you may find your self in and have to pay a collection agency to to accomplish a short term goal such as buying or refinancing a home. If you are just in general collection agency hell then paying may do you more harm than good. While I would NEVER PAY A COLLECTION AGENCY. How you wish to handle your individual situation is a personal choice. If you do need to pay them off make sure you do it in a way to not cost you future heart ache and pain...


Can a hospital turn you over to a collection agency after a year even if you have been paying on it and not missing any payments?

yes


When a car is repossessed what do you do with the insurance?

When a car has been repossessed the person paying the insurance should cancel it.


How do you satisfy an unsatisfied judgment after another collection agency bought the account from the first collection agency that originated the judgment?

you "satisfy" a judgment by paying balance in full or settlement. but understand that once a judgment has been issued by a court then there can be no one else that does this.


Is it better to pay original creditor who still owns account or debt collection agency who is collecting for original creditor?

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I am currently and have been paying faithfully a collection agency 50.00 a month to settle a medical debt. The agency is now threatening to garnish my wages for more. can they do that.?

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Can a debt be classified as a judgment if you made a payment and the collection agency contacted you and you showed proof of payment and are paying the remaining balance?

if collection agency is not from your lender, but third party, then you need to fax them proof of your payments to your lender or financial insitution and have them send you a letter stating that they will not report you to credit bureau. and also have them contact the collection agency you are making payments. asian623 http://www.myspace.com/scionturboracing


Will you get sued in Texas for not paying for car?

It is more likely the car will be repossessed by the lending agency, if you have defaulted on the loan. You may also be charged criminally. If you simply took a car without paying for it, this is classified as grand theft auto and, if caught, you will be charged criminally.


If you stop paying on a collection account that no longer shows on your credit report can the collection company report the unpaid balance to the credit bureaus?

Yes they can and they probably will. if you are concerned about your credit profile, it would not be a good idea to stop paying.


Can a 400 bill that is unpaid affect your credit report even if you make payment arrangements with the debt collector?

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What is the difference between charge off and collection?

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Why would a collection agency suddenly stop calling?

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Does transferring a debt to another collection agency exend the time it appears on credit report?

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by paying the bill or rebuy it at an aucton


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