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Can a credit card collection business take you to court for a three-year-old debt?
Wiki User
∙ 8y ago
They can take you to court and a judgment can go against you. If you have any money in bank accounts in your name, the courts will find it and take it.
If you don't have any money in the bank then your ok. Next save 1/2 the balance owing and offer it to them in 1 lump sum if they leave u alone. it will probably work. Your credit is already screwed.
Maybe. It depends on whether the collection agency is acting on the behalf of the original creditor or they are a third party that has bought the account. "Taking it to court" is expensive time consuming and is usually done if the lender can be assured of payment. The preferred method of recovering a debt is garnishment of wages or levying bank accounts. Neither which can be done without due process and a judgment awarded. Even so, there are limitations, including exemption amounts for bank accounts and set percentages (usually by the state) of wage garnishment. Wage garnishment like all judgments can be modified by the court depending on the situation. For example it can be lowered, if it is proved to cause an "undue hardship" on the debtor and/or dependents.
Wiki User
∙ 8y ago
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Can I get an out-of-court settlement on my credit card?
It is possible to get an out-of-court settlement for a credit card. Credit card companies and collection agencies offer a variety of payment and settlement options for the debtor.
If your debt is not included in the credit bureau can you be sued by the debtholder?
A debt does not have to be reported to a credit bureau in order for the business to pursue collections, sue or place the account with a collection agency. If a debt is owed, it can be collected by phone calls, letters, personal visits or through the court system.
Can a credit card company or collection agency put a lien on your home before first taking you to court or can they get a judgment against you with out you knowing about it first?
No. Court is a must
What happens if you cannot afford to pay your credit cards?
You'll be hounded by collection agencies, you'll receive a bad credit score, and you may be taken to court if you have a sufficient enough debt.
How can a business collect debt?
A business can collect debt by getting a collection agency to collect the debt. A business could also take it up in court or by putting a lien on the debtor's property.
Can I get an out-of-court settlement on my credit card?
It is possible to get an out-of-court settlement for a credit card. Credit card companies and collection agencies offer a variety of payment and settlement options for the debtor.
Can a business garnish another business for debt?
A business can't garnish over another business, but if they hire a commercial collection agency to collect the debt, even then the agency can't garnish. When a business debt collection service goes to Court, the commercial debt collection agency can arrange a settlement to "force" the Court to garnish over the debtor. Collection Laws varies in every state
If your debt is not included in the credit bureau can you be sued by the debtholder?
A debt does not have to be reported to a credit bureau in order for the business to pursue collections, sue or place the account with a collection agency. If a debt is owed, it can be collected by phone calls, letters, personal visits or through the court system.
Can a credit card company or collection agency put a lien on your home before first taking you to court or can they get a judgment against you with out you knowing about it first?
No. Court is a must
A collection agency reported you to the credit companies even though you are disputing the bill and have a scheduled date for a court hearing--can they do this even though you may soon win in court?
no
Is it legal for a collection agency to use the term 'judgment' on your credit report without a court order or hearing?
No. Judgments can only be granted by the court, after a lawsuit has been filed and won.
What happens if you cannot afford to pay your credit cards?
You'll be hounded by collection agencies, you'll receive a bad credit score, and you may be taken to court if you have a sufficient enough debt.
How can a business collect debt?
A business can collect debt by getting a collection agency to collect the debt. A business could also take it up in court or by putting a lien on the debtor's property.
What should you do if your ex said your joint credit card was closed but instead he continued to use it and let it go into collection and damaged your credit score?
take him to claims court. have proof of all dates.
What are the penalties for not paying credit card debts?
your creditor will give ur case to credit collection agency...and if if u dint pay can b taken to court where magistrate can ask u to pay fine and all the debts including court admin charges
Can a collection agency report to credit agencies before the charge is verified?
Yes, a collection agency can report a debt to credit agencies before the charge is verified. However, it is generally recommended for collection agencies to first verify the debt before reporting it to credit agencies in order to ensure accuracy and compliance with regulations such as the Fair Credit Reporting Act.
How do you put a lien on a business for non payment debt collection?
You need to sue it in court and win. If you win you can request a judgment lien.You need to sue it in court and win. If you win you can request a judgment lien.You need to sue it in court and win. If you win you can request a judgment lien.You need to sue it in court and win. If you win you can request a judgment lien.
