Top Answer
User Avatar
Wiki User
Answered 2012-03-22 03:10:30

That is up to the discretion of the organization to which you owe the money.

User Avatar

Your Answer

Related Questions

In Part: No it has to be updated if the balance is revolving and going up or down monthly.

You have to pay the collection agency. The original company has a signed contract with the collection agency and they pay the collection agency a % of what they collect from you. That's how they make their $$. The original company did not want to have the outstanding balance on their books.

A Commercial Collection Agency is and agency that collects debt on behalf of their clients, same as a consumer collection agency, but a commercial collection agency collects business to business.

It goes to a collection agency, prepare to get annoyed and harassing phone calls

Original creditors sale their accounts to collection agencies when the account has been past due and they have not effectively collected. At that time, the original creditor will charge off the balance from their accounts receivable and turn the account over to a collection agency. When the collection agency collects the debt, a portion of the amount received is paid the the collection agency and the remainder is returned to the original creditor as profit.

Absolutely not. You, as a debtor, do not get to set the terms of repayment. By the time the collection agency gets a case, typically, the entire balance is due at that point. The good news, however, is that when a collection agency sues you, a good consumer attorney can likely defend your rights with great success. For more answers to collection agency questions, please visit my website at

if a collection agency has not bought out my debt from the original company can the collection agency look up my credit report?

I recieved a call from a collection agency but not able to find any info on the company. How do I know its legit? Company is Action Collects. Company was very rude with a customer that is willing to pay balance in full.

A collection agency can charge you fees on top of your original debt. They can charge you a fee for their collection.

The commercial collection agency is used in debt collection in the event a debtor fails to.

you "satisfy" a judgment by paying balance in full or settlement. but understand that once a judgment has been issued by a court then there can be no one else that does this.

No! The only obligation of the collection agency regarding a debt is to accurately report the debt...i.e. balance outstanding, current status, and payment history. However, if you are paying or contemplating paying a collection agency, it would be wise to negotiate a positive outcome...i.e. the total removal of the account from your credit profile in exchange for payment. This should be negotiated prior to paying the collection agency and the agreement should be in writing.

Norwegian National Collection Agency was created in 1990.

If the bill was late enough to be sent to a collection agency, the collection of that bill has been turned over to that collection agency as well.

if a collection agency isn't paid, the debt can be put on a persons credit report. The collection agency can also choose to garnish a persons paycheck.

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

Once a debt has been sold to a collection agency, that agency owns the debt. Now it would be between you and the collection agency to settle the debt; the creditor has washed his hands of the matter. If you think the debt collection agency isn't working within its legal limits and is harrassing you, check out the Fair Debt Collection Act, which outlines was a collection agency can and cannot do.

if collection agency is not from your lender, but third party, then you need to fax them proof of your payments to your lender or financial insitution and have them send you a letter stating that they will not report you to credit bureau. and also have them contact the collection agency you are making payments. asian623

A collection agency cannot call your employer to garish your wages. In order for your wages to be garnished, you must be sued by the collection agency. And the agency must win a judgment against you.

Australia Debt Collection a good collection agency in Sydney since it offers many services to people.

Contact your probation officer. If you are off probation with an outstanding balance, simply call the office and ask. Likely as not, should the second scenario be, you will be contacted by a collection agency and they can give you the balance. However, if dealing with a collection agency, and you choose to pay them, keep meticulous records of your payments, and when you send your last payment, write this, "Paid In Full," on the endorsement portion of your check or money order.

things like this usually are after a couple months of non payment

Copyright ยฉ 2021 Multiply Media, LLC. All Rights Reserved. The material on this site can not be reproduced, distributed, transmitted, cached or otherwise used, except with prior written permission of Multiply.