If the payment amount and other terms that were agreed upon are being met, it would not be in the best interest of the creditor to place the account in collection status. However, if there is a significant arrearage or the terms of the agreement are not being honored, the creditor may take such action in order to change the account status for taxation issues and other purposes.
Yes if they have been awarded a court judgment in that state.
This means that you CANNOT sell this home without first paying off the judgment plus interest accrued since the judgment was first awarded. There is no time limit on how long a lien can stay on a property.
If you don't have a written contract with them they can probably do whatever they want, but if you are paying the agreed amount each month they usually don't send someone to collections.
When a hospital threatened me with collections I called the president of that hospital and explained the situation, they not only stopped threatening me with collections the person who had been rude called and apologized. Times are hard all over, they should be happy you are trying to pay them anything!
I will pay twenty dollars a month on a hospital bill into a collection agency
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.
You get a letter from the paid collection agency and send it as proof of payment to the new agency. In the mean time, you call the new agency and dispute the claim of debt. If they receive the letter and still harrass you, then you have the right to sue and turn their neames over to the BBB. This is only if you paid in full. If you settled, then the next agency can try to get the unpaid amount. Remember, there is a 4 year period on medical bills. After that, they can't collect, unless the hospital revitalized your account.
Yes. You have a legal contract to pay the agreed upon amount. If they did not accept your latest offer, they can send the bill to a collection agency.
Paying the collection agency will clear up your account much quicker and some creditors will return the payment to you if you send it directly to them. Most creditors sign a contract with a collection agency and cannot discuss the debt with the debtor once they place it with the agency, they must refer all correspondence, communications and payments to the agency for the life of that contract.
No pay the vendor. If you pay the collection agency they will extract a fee from the payment and you will still owe the vendor
Unless you have a specific repayment plan that the collection agency agreed to, there is no legal reason that cannot sue the cosigner.
No. The collection agency will validate the amount for you if need be, but the creditor no longer owes you the courtesy of a statement.
Of course. If it's an unpaid debt, the collection agency owning the debt may try to collect it. And beware, they can track you down no matter what. However, they have to abide by certain rules, which are defined in the Fair Debt Collection Act.
Yes, a collections law firm, is still defined under the FDCPA as a collector. They are required to follow the same regulations that apply to a regular collection agency.
Nope. Advise the collection agencey that this was settled with the original creditor. You may have to provide them with a copy of a canceled check or money order. You can also have the creditor call the agency. Some will, some won't.
Don't let a collection agency push you around. As a consumer you have many rights. The best places for anyone to exercise their rights are in small claims courts. For less than $100 you can bring a collection agency to their knees.
Even if the collection company goes bankrupt, you still owe the bank whatever money you borrowed from them. The bank hires the collection company to get that money, so you still owe them