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Can your account be given to a collections agency if you have arrangements to pay the original bill and payments are being made on a timely basis?
Wiki User
∙ 11y ago
Legally, yes. But it is unlikely that a creditor would take such action.
Wiki User
∙ 11y ago
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If account is sold to collections should original creditor remove that account?
The original creditor does not remove your information. What is should say in the notes section is that the account has been transfered or sold to a third party collection agency. This information will remain on your account until the 7 year clock expires.
Can the original creditor direct their collections agency to have an account removed from a credit report?
THE ORIGINAL CREDITOR WILL BE ABLE TO HELP WITH REMOVING AN ACCOUNT BY REPORTING THIS TO THE BUREAUS. DO FIND OUT IF THEIR IS A NECESSARY STEP IN CONTACTING THE COLLECTION AGENCY FOR THESE SERVICES TO BE TAKEN CARE OF.
What does adverse accounts mean?
An Adverse account means a delinquent account. An account that has not received on time monthly payments, or payments at all.
Collection acct removed but original creditor still remains?
Yes, reporting to your credit by a collections agency does not effect the reporting originally made by your creditor. It most normal cases you would see the original creditor having reporting the account as a "charge off" regardless of any reporting made by a collections agency afterwords.
How do you find out if an account has been turned over to a collection agency and what amount is owed?
When you check your credit report there are several sections, one is called collections account. You will be able to review collections account directly after judgements, if any are listed on your report.
Can an account be sent to collections if you are making monthly payments?
Yes, an account can still be sent to collections even if you are making monthly payments. If the payments are not meeting the agreed terms or if the creditor believes the account is at risk of defaulting, they may send it to collections to recover the debt. It's important to communicate with your creditor and try to negotiate a manageable payment plan to avoid the account being sent to collections.
How do you start making regular payments on a credit card again if it has already gone to collections?
you have to contact the collections agency and they will advise you from there where to go and what to do next If the collection agency will not make arrangements, then call the lender that held the credit card--just by chance, they may open an account with the old balance if you can convince them that you can pay now. Talk to a supervisor--fax them proof of your old situation and see what happens. Good Luck
What do you do when the bank tells you they will cancel your arranged payment on a car loan account?
== Arranged payments== In my experience they will repo your car, if you dont make other arrangements.
What is the meaning of ready for collections?
"Ready for collections" means that a company has attempted to collect a debt from a customer without success and has now passed the account to a collections agency for further action. At this point, the collections agency will try to recover the debt on behalf of the original company.
If account is sold to collections should original creditor remove that account?
The original creditor does not remove your information. What is should say in the notes section is that the account has been transfered or sold to a third party collection agency. This information will remain on your account until the 7 year clock expires.
Can the original creditor direct their collections agency to have an account removed from a credit report?
THE ORIGINAL CREDITOR WILL BE ABLE TO HELP WITH REMOVING AN ACCOUNT BY REPORTING THIS TO THE BUREAUS. DO FIND OUT IF THEIR IS A NECESSARY STEP IN CONTACTING THE COLLECTION AGENCY FOR THESE SERVICES TO BE TAKEN CARE OF.
You just received a notice on a credit card indicating that it was in the process of being charged off and was urged to make payment arrangements-- What exactly does this mean?
Within a 180 days of default a creditor must charge off the account. After which the account is sent to a collections agency who then follows established collection procedures. These are generally implemented in the form of letters and/or phone calls to the debtor. Collection agencies are obligated to conform to FDCPA regulations whereas original creditors are not. If suitable payment arrangements are not made, the agency that "buys" the account may decide to pursue legal alternatives.
Can collectors garnish money from my spouse's bank account if i am not on the account?
They can if he/she is on the collections account.
What does adverse accounts mean?
An Adverse account means a delinquent account. An account that has not received on time monthly payments, or payments at all.
Will an account in collections from 2005 hurt your chances of getting a mortgage loan in Texas?
Your credit score and income are more important than an account in collections.
Collection acct removed but original creditor still remains?
Yes, reporting to your credit by a collections agency does not effect the reporting originally made by your creditor. It most normal cases you would see the original creditor having reporting the account as a "charge off" regardless of any reporting made by a collections agency afterwords.
Why do you feel you will be a successful collections account representative?
Many people will be successful collections account representatives for a variety of reasons. The most successful representatives are kind and caring.
