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Can a collector still continue collection efforts after it has fallen off your credit report and how can you keep it from being reported again?
Wiki User
∙ 13y ago
The debt should be removed from the report after the seven to ten years. However it is not unusual for the consumer to have to contact the credit bureaus and demand their report be corrected. A debt does not become invalid simply because it is expunged from a credit report, but each state has a statute of limitations that WILL end the debt if you do not pay anything on it for a certain number of years. Check with your state to find out about its statute of limitations.
The debt shouldn't be reported again after the time has expired. The exceptions would be if the creditor won a judgment (which would have its own time limit starting from the judgment date) or if it is an income tax debt.
While the above is true, you will still probably have to deal with what we call "bottom feeders". These are collection agencies which buy old collection accounts for pennies and set about collecting by any means they can find.
This, unfortunately, also includes illegal means. Although these bottom feeders are still governed by the Fair Debt Collection Practices Act (see the Federal Trade Commission's Website for your free copy) they hope the consumer will not be aware of their rights. They will threaten lawsuits, revocation of drivers licenses, arrest, and (this is extreme but did happen) rape. All, of course, illegal in every state of the union.
One more thing: NEVER PAY ON THE DEBT IF YOU DON'T OWE IT! The moment you pay even a penny on a collection your statute of limitations is RESET and you may have to go through the whole thing again.
Wiki User
∙ 13y ago
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Is collection consider as bankruptcy?
NO. You must file bankruptcy. Otherwise, collections efforts against you on bad debt may continue as long as some collector feels it is worth the small chance of payoff.
Can a collection agency collect after 2 years?
Most likely yes. States have statute of limitations that determine the time a creditor/collector has to initiate a civil suit against the debtor. It is unlikely that two years would qualify as such in any state. However, the interested person can find out the SOL for debt for his or her state by doing a search of that state's consumer-creditor laws. In regards to usual methods of debt collection (mail, phone calls...) there is no time limit as such. The lender/collector can continue collection efforts as long as they abide by the FDCPA. The debtor has the option of rendering a "cease and desist" letter to stop collection methods, to the collector (not the original creditor) if they so choose.
Who determines whether to continue the repair efforts. If a damaged facility is worse than reported by the DART team?
Damage Control Center
How to Make a Collection Agency Stop Calling?
Creditors are usually one of two options, an internal collection department or third-party collection agencies. Third-party collection agencies are the most common, offering to gather debts for a variety of lenders. Often third-party collection agencies receive commission, usually a percentage of the debt collected. According to the Fair Debt Collection Practices Act (FDCPA), you can put an end to contact from collection agencies or collectors by using the following steps. ▪ Step 1: Decide what you are capable or willing to do about a debt. Ultimately paying off the debts that you owe is the morally responsible thing. Be honest and realistic about your financial situation; can you afford to pay this debt. ▪ Step 2: Put an end to contact with the debt collector. Notify the debt collector in writing that you decline to pay and state that you do not want the collector to contact you further, preferably mentioning the FDCPA. ▪ Step 3: Be aware of the consequences of your actions. Although the debt collector is obligated to stop communicate with respect to such debt there are other options for the collector. The collector can contact the debtor further efforts will be ended. The collection agency or collector may notify the debtor solutions to the debt payment or that the collector intends to exercise this solution. Chances of this account being reported to the credit bureau are good under these circumstances and if the debt in question is a large sum, there is also the possibility of a law suit from the original creditor. If you find yourself stuck in a communication war with a creditor, decide what you are capable of doing, write a letter of intent to the collector and be aware of the consequences of your actions. Ultimately informing the original creditor of your intentions will avoid your account being forwarded to a collector or collection agency in the first place.
What is the right to notify a debt collector in writing to have no further contact with you is covered by the?
The right to notify a debt collector in writing to cease further communication is covered under the Fair Debt Collection Practices Act (FDCPA). This request, commonly known as a cease and desist letter, requires the debt collector to stop contacting you except to inform you that further efforts to collect the debt have ceased or that specific actions may be taken.
When should you use a collection agency?
Once the account reaches the stage of being fully provided, the collections activity is designated as Recoveries. This is a Hard core delinquency stage wherein the collection efforts are of a more intense nature as compared to the earlier stages. The Hard Core Collector will try to trace the customer and ensure full settlement of outstanding. If the customer is unable to settle the outstanding, the collector will ensure that a settlement plan or discount strategy (as per the agreed guidelines) is offered to the customers. In case the customer does not agree to pay inspite of all these collections efforts then a legal case needs to be been filed against the customer . The collectors officer may also choose to assign the case to the collection agency for follow up. Once the account reaches the stage of being fully provided, the collections activity is designated as Recoveries. This is a Hard core delinquency stage wherein the collection efforts are of a more intense nature as compared to the earlier stages. The Hard Core Collector will try to trace the customer and ensure full settlement of outstanding. If the customer is unable to settle the outstanding, the collector will ensure that a settlement plan or discount strategy (as per the agreed guidelines) is offered to the customers. In case the customer does not agree to pay inspite of all these collections efforts then a legal case needs to be been filed against the customer . The collectors officer may also choose to assign the case to the collection agency for follow up.
What if your intelligence analyst has told you to focus on the collection efforts and observes more indicators?
An association
Who said with few and isolated exceptions the rehabilitative efforts that have been reported so far have had no appreciable effect on recidivism?
Robert Martinson
Can collection law attorneys help me fight a collection company?
Yes, collection law attorneys can help you fight a collection company by disputing the debt, negotiating a settlement, or representing you in court if necessary. They will work to protect your rights and ensure the collection company follows the law in their collection efforts.
Can my wages be garnished by the student loans while i am in a chapter 13 bankruptcy?
If your bankruptcy is currently active, collection efforts on the student loan will cease until the bankruptcy inactive at which point collection activities will start again.
Will paying a collection agency improve your overall credit rating?
Yes, because by doing that you are converting a Negative on your credit history to a Positive action. Those who look at a credit report are looking to see if you are making efforts to "turn things around." Paying a collection does NOT improve your credit and may, under certain circumstances, cause even more deductions to your credit score. This is one of the fallacies about credit. The factor that causes the largest amount of deductions to scores is when a derogatory account was last reported to the bureaus, not the amount owed or the status (paid or unpaid). A paid collection account can be just as damaging as an unpaid collection. The first answer was incorrect. The only thing that will improve your credit rating is to have the collection removed from your credit report. Offer to pay the collection in exchange for a deletion.
Is your wifes bankruptcy your problem?
Your wife's bankruptcy should not affect you unless you have joint debt. In that case, the creditors can pursue collection efforts against you.
