Yes, if a collection agency files a lawsuit and is awarded a judgment against the debtor. In the majority of U.S. states a judgment can be executed against bank accounts even those held jointly. The exception would be a marital account held in Tenancy By The Entirety (TBE) when only one spouse is the judgment debtor.
This may depend on the country your in, but I would suggest not. If the debt in question is a debt solely in your name, this will mean the other party on your joint account is not liable for your debt, so they cannot take funds from your joint account.
It is always a good policy to attempt this. But whether or not you succeed in getting a paid collection account removed from your credit report is totally within the discretion of the creditor. There is no law that requires or compels credit reporting. The Fair Credit Reporting Act states that IF an account is reported, then it must be correct. Therefore, collection agencies and creditors usually will tell a consumer that they "must" by law report the accurate nature of the account, which would be a paid collection, as opposed to removing the account.
When a collection agency takes on a bad debt, in many cases they are "puchasing" the debt from the original creditor. When you then pay off the collection agency, your money will stay with that collection agency. This is the most common scenario, but some companies do have their own internal collection agencies (Capital One, for example, has their own collection subsidiary in Idaho - the Westmoreland Agency). Hope this helps!
American Express Personal Savings account is currently offering one of the highest interest rates on your money. They are offering a 1% interest on your money as of August 2011 with no fee.
OSI Collection Service is a "Third Party" Collection agency. Collection agencies buy your information from the original creditor in order to collect on a debt. What this means is that they make money if you pay anything on this debt, not only from the original creditor, but a commission on the payment that you make on that debt.
Yes they can.
Banks can sell debts to collection agencies at any time. The write off was likely done after the sale anyhow, and the 1098 was for the amount of money the bank lost overall.
This may depend on the country your in, but I would suggest not. If the debt in question is a debt solely in your name, this will mean the other party on your joint account is not liable for your debt, so they cannot take funds from your joint account.
An easy way to find out what collection agencies you owe money to is by pulling your credit report. Credit reports will list balances with all creditors as well as if any balances were turned over to collection agencies.
Department of the Treasury
Yes they can.
yes
Yes, We can i need to transfer my money to icici to sbi account
you have to have money then you must put it into a bank then you have a bank account.
It is always a good policy to attempt this. But whether or not you succeed in getting a paid collection account removed from your credit report is totally within the discretion of the creditor. There is no law that requires or compels credit reporting. The Fair Credit Reporting Act states that IF an account is reported, then it must be correct. Therefore, collection agencies and creditors usually will tell a consumer that they "must" by law report the accurate nature of the account, which would be a paid collection, as opposed to removing the account.
Wouldn't they want a money order or cashier's check?
BEWARE! At first glance this appears legitimate but as my relationship with them progressed it gave me cause for concern. Their first request of me was to allow two existing clients pay their invoices to my personal account and have me forward the money, via money order, to the corporate bank account in Warsaw, Poland. I found this request to be highly suspicious and the request had the appearance of a money laundering scheme. I refused to allow the transaction and immediately alerted my banking institution and credit monitoring agencies.