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Yes, if you default the monthly payments.
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∙ 14y ago
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If a second collection agency takes over a unpaid debt can they have that collection put on your report?
Yes the second collection will be placed on the credit report. But they will remove the first collection agency off the report. In some states it is against the law to be double billed by two collection agency for the same debt.
If you have old debt from another country and a collection agency in the US is trying to collect can they report the debt on your US credit report?
It is possible.
If you have a 2300 dollar hospital bill and you make 20 dollar monthly payments are they allowed to send the matter to a collection agency?
No, as long as you have contacted the hospital and they are aware that you are paying a monthly amount and have agreed to accept that amount, they can not send you to collections. Most hospitals also have financial hardship programs and charity options. You should contact them to see if you qualify. I work for University Of Maryland and do ER billing. If you have a debt and the collecting party has proof of this debt, they have the option of selling your debt to a collection agency unless otherwise agreed upon through some legal channel.
Does a debt collector have to send you a monthly bill?
A debt collector works for a collection agency. If the angency owns the debt then you can request statements. A collection agency will send you a paid or settled un full letter. They are not a billing agency.
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.
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.
Can a debt collector report to a CRA a debt which was never reported by the original creditor of the debt?
The answer to your question is Yes, they can report a debt that was never origionally reported to the CRAs. This is most common with medical expenses. You may have an outstanding debt to a doctor's office for example, and though Doctors do not typically report debts to a CRA, if they sell your outstanding debt to a collection agency, they absolutly have the right to report it to your credit report. So, in a word, yes, it is legal, and is actually quite common. Hope this helps! In fact it is against the Fair Debt Collection Practices Act for a medical debt to be reported to the credit agency, but it doesn't apply if they sell the debt to a third party collection agency. Nice way for them to get around that.
When do collection agencies report the debt to the credit bureau?
They usually give you 30 days to respond to the debt and make payment arrangements. If you dont respond they usually report it.
If original creditor charged off then sold it to a collection agency can they both report the debt where the same debt appears twice on your credit report?
no.This is in violation of The Fair Credit Act and The Fair Debt Collection Act.Report this to the FTC and your state attorney office.then look for a lawyer to sue them.
Can a collection agency report you to the credit bureau if you are making monthly payments on your medical bill?
If the debt was properly assigned by the original creditor, yes. If you are making payments to the Original creditor than ask them to pull it back from there Collection agency, then dispute with the CRA's and when they update it should delete
Can a collection agency make inquiries on your credit report before placing it's debt?
== == Collection agencies do not have the legal right to pull your credit report unless you gave them permission.
What happens if a collection company does not validate the debt?
If they are unable to show proof that you are connected to the debt and have no documentation, then they by law have to remove it from your credit report.
