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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?
Wiki User
∙ 17y ago
Yes.
Wiki User
∙ 17y ago
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How many times and how often can a collection agency post an account to your credit report as a charge off?
A collection agency cannot charge-off an already charged-off account. The reporting of the STATUS of the account AS a charge-off can be reported every time they update with the credit bureaus. The 'date of status' must be the date of the ORIGINAL charge-off.
Does an account put with a collection agency always show up on your credit report?
This depends only if the creditor originally reported your account to your credit report.
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.
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.
You had a credit card account which they charged off and sold to a collection agency ca Now you have that charge off which carries a balance and a CA collecting on the same debt What could you do?
It is unlikely that the account was "sold" to a collection agency. Rather, the agency was contracted to recover the debt. The "charge off" of the account only affects the original creditor, and represents a loss reported against the company's taxes. If the collection agency has attempted to recover the debt and has been unable to, the original creditor will likely pull back the account and refer it to another agency in hopes of greater success.
Where do you pay collection accounts that are reported on your credit report when the company is out of business or no longer handles the account that was reported for collection?
You pay the collection agency.
What does a collection agency do to your credit?
They don't do anything. Failure to pay bills causes credit to be reported badly and your credit score to go down. All a collection agency does is go after you for the money.
When is the debt reported to the credit bureau?
Normally 30 days after it is sent to a collection agency if you don't ask for validation or 180 days which is considered charged off account.
Can unpaid medical bills be reported on credit reports?
Yes, unpaid medical bills will be reported to credit bureaus not to mention the collection agency that the medical facility will pursue.
Can a debt collection agency legally identify themselves a 'collection agency' when placing inquiries on your credit report when the debt in question was charged off over a decade ago?
No.
How many times and how often can a collection agency post an account to your credit report as a charge off?
A collection agency cannot charge-off an already charged-off account. The reporting of the STATUS of the account AS a charge-off can be reported every time they update with the credit bureaus. The 'date of status' must be the date of the ORIGINAL charge-off.
Does an account put with a collection agency always show up on your credit report?
This depends only if the creditor originally reported your account to your credit report.
Can a collection agency for a non-credit card-type bill hurt your credit rating?
Yes Once a collection account is reported to your credit history, its origin no longer matters. If money is owed and it gets listed with a credit reporting agency as a collection account, it affects the main factor in your credit score: Payment history. See www.myfico.com/CreditEducation/WhatsInYourScore.aspx for details of a FICO score.
How do you find out from a collection agency who sent you to them for collection when you never was notified that you were in collection you discovered it on your credit report?
File a dispute with the credit reporting agency.
Can delinquent membership dues in a timeshare be reported to a credit agency?
Any debt CAN be reported to the credit bureaus. What you need to find out is whether or not these dues WILL be reported. Credit reporting is totally volunatary. There is no law or regulation which compels it. Existing laws only state that if something is reported, then it must be accurate. It is possible, but unlikely, that a timeshare company reports. Delinquent dues may be turned over to a collection agency. A CA is more likely to report their accounts. What I know is that any debt can be reported to a credit agency. I don't know if this is the case of delinquent membership dues. Yes, it can be reported to a credit agency as delinquent membership dues can be treated like debts.
How many years can a collection agency still pull your credit report?
A collection agency can't access a credit report w/o the permission of the party involved. They may try to mislead someone into believing they are able to do so, and that is a violation of the FDCPA and should be reported as such.
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.
