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If you owed student loan money from Sallie Mae and it is now turned over to a collection agency can I be garnished?
Yes! If your student loans are with a collection agency they are in default. When student loans are in default the dept. of ed gives the collection agencies "CARTE BLANCHE" to collect the money by any means necessary. Wage garnishnent is only one.
What are your options if you are unable to pay the full debt amount to the collection agency?
Do NOT pay any money to a collection agency.......send your money to the debtor, the person you owe it to. Send it in the form of a check or money order. NEVER PAY A COLLECTION AGENCY
Is it legal for a collection company to place a lien on student loan money?
the collection agency doesn't do that. the federal quarantor and/or the department of education have the only power to place liens or offsets
Can a collection agency collect interest on your debt?
Yes, Collection agency can do that. But contact a good collection agency like Guardian Credit Services, they know will how to deal with customers to get money
Does the creditor or the collection agency get the money you pay on a debt?
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!
What kind of service does a collection agency provide?
A collection agency is commissioned to collect money from those who have defaulted on credit card bills or loans. The agency tries to recover as much money as possible.
What do I do after a collection agency sues me?
Once a collection agency sues a person they may have to get an attorney and go to court to settle this. The agency wants you to pay the money you owe them however they can get you to do it.
What is wage garnishing?
When You owe money to a collection agency via: bank, credit card, hospital, ect... for not paying them the collection agency will take the money directly from your paycheck if you continue to not pay.
Can collection agency take money out of joint account in ct?
Yes they can.
How do you get rid of the money that you owe from collection agency without paying them and become good credit again?
how to get rid of the money that you owe from collection agency without paying them and become good credit again
How do you report someone to a collection agency?
You have to contact the collection agency and broker a deal with them. The agency will buy the debt from you for much less than the debt is worth. The agency will then contact the person, and keep any money paid by the person.
Can you be sued by the original creditor if they have already sold your case to a collection agency?
If they've sold your case to a collection agency, they have been "paid" for your debt with the money the collection agency gave them for your case, so, no, they can't legally sue you - as far as I know.
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