NO NO NO
If you are sued, then yes. First, the collection agency must try to collect from you. Then they can sue you if you don't pay. If they win, the judge can issue a judgment against you. And that is how they can freeze your bank account.
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.
No, once a collection agency relinquishes their claim to the account by selling it they must remove all negative trade lines related to that account from your credit reports. Hope this helps ST
There is no time limit. They may "have" the account forever, but they may only collect on it for seven years from the date of last payment or ten years in the event of a judgment.
Generally a Creditor will wait 180 days from the date of the last payment before passing the account to a Collection Agency
If you are sued, then yes. First, the collection agency must try to collect from you. Then they can sue you if you don't pay. If they win, the judge can issue a judgment against you. And that is how they can freeze your bank account.
no
If a Payday Loan company hires a collection agency to collect on your account they can send your account to an attorney to collect the amount of the loan and any NSF fees that you have accumulated. However, it is stated at the bottom of your contract that if you close your checking account that the loan is made from, that you can be charged with fraud.
yes
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.
No.
No. Once filed, no one can seize or tey and collect anything with out court approval.
No, once a collection agency relinquishes their claim to the account by selling it they must remove all negative trade lines related to that account from your credit reports. Hope this helps ST
Yes, Collection agency can do that. But contact a good collection agency like Guardian Credit Services, they know will how to deal with customers to get money
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.
There is no time limit. They may "have" the account forever, but they may only collect on it for seven years from the date of last payment or ten years in the event of a judgment.
Generally a Creditor will wait 180 days from the date of the last payment before passing the account to a Collection Agency