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Does the statute of limitations begin when you default on a loan or make payments to collection agencies?
Wiki User
∙ 15y ago
In most states and in Canada, any time there is activity on an overdue account, the time limit rests. For instance, if you have an old debt that is due to be erased from your credit file in 3 months, but suddenly begin a payment plan, the clock starts all over.
Wiki User
∙ 15y ago
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Can hospital report debt to collection if you pay monthly?
Yes, if you default the monthly payments.
Can collection agencies freeze your savings account?
No, collection agencies do not have any right to freeze your savings account. Only banks have the right to freeze your account but depends on the nature of the default.
How long takes to affect your credit the late payments on your house?
The lender is likely to report this to the credit reference agencies within a week of the default
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.
Legal Procedure to get back a personal loan in US?
Get back a personal loan. Is it in default? Contact loan company or debt collection agency and start making payments.
What is statute of limitations on SBA loan default?
What is the statute of limitations for an SBA loan in NC
Does default means not pay?
Default means that you have not made the agreed-upon payments in full on time. You may be making partial payments (ie, paying $250 a month instead of $350 a month), but still be in default.
Does default means does not pay?
Default means that you have not made the agreed-upon payments in full on time. You may be making partial payments (ie, paying $250 a month instead of $350 a month), but still be in default.
If you default on credit card payments can they take your car?
no
Will paying a charged off credit card debt to an outside collection agency help your credit rating?
No, not unless you pay the full required payments without default, which is the same as paying for the card normally. Once you default on a payment your credit rating starts to drop.
Should your parents have you on the title of their house to avoid forced sale?
If your parents granted a mortgage and then default on the payments, adding you to the title after granting the mortgage will not stop a foreclosure.If your parents granted a mortgage and then default on the payments, adding you to the title after granting the mortgage will not stop a foreclosure.If your parents granted a mortgage and then default on the payments, adding you to the title after granting the mortgage will not stop a foreclosure.If your parents granted a mortgage and then default on the payments, adding you to the title after granting the mortgage will not stop a foreclosure.
Can they legally repossess your car if all your monthly payments are up to date but you have made a few payments a day or a week late?
Read your CONTRACT. You have to be in DEFAULT of the contract for the lender to repo. If you are current on payments, what else can you be in default of?? INSURANCE coverage?
