Not possible. The contract between the original creditor and buyer is a private transaction. The percentage varies widely. It's also important to understand that many collection agencies work in a contingency basis and only get paid if they collect.
800 Credit Card Debt helps you consolidate all of your credit card debt into one monthly payment. They do this by contacting your credit card debt companies and negotiating a payment for you.
Credit card companies win whether you paid or not. They write-off the credit card debt at the end of the year on their taxes, they also hedge their burden for increase risk by having insurance so they recover some of your losses from your default and they can sell their uncollectable debt to a third party (collection agencies). What rights do you have? The Fair Debt Collections Act. Your debt is with the original creditor (Credit Card Company) and not the collection agency any money you pay should be to the original creditor.
I am a professional debt collector and would say the best answer would be to either contact your credit card company and see to whom they sold the debt, as they no longer own the debt and therefore can not help you rectify the situation. The other option would be to pull a credit report on yourself and check to see if the collection agency is on your report, or if there was an inquiry on your report from a collection agency.
When you have a bankruptcy, you will receive a 1099 for your credit card debt that is written off. Some companies will not send one but you will have to include the ones that do on your tax return.
Most likely the credit card company wrote off the debt. However it will show on your credit as a write off, and your credit is still negatively affected by this. You did not receive a get out of jail free card.
No they cannot
Settlement usually occurs when the account is past due and has been closed. You can either try to settle with the credit card company, or the debt collector that the credit company sold the account to.
Credit card debt does not expire. If collection for the debt becomes a liability, then the creditor can write off the debt as a total loss or warrant a reposession of property, but the debt itself will never expire on its own.
Debt settlement companies can help negotiate debt relief with all your creditors. This will include credit card companies who may be willing to write off part of your debt.
The diffference between a debt card and a credit card is ,in a debt card it's money from your account .In a credit card is when you borrow money from the bank.
I am so in debt and I am worried about paying my credit cards. Where can I get advice on credit card debt solutions?
There were no credit cards in 1900, hence no credit card debt.
A person is in credit card debt when they have charges on their credit card and can not pay them. A person can make charges on a credit card and make payments at a later date. When a person charges on their credit card, the charge is now a debt that must be paid.
As long as they are actively pursuing it, they can chase it until the debt is paid. There's no way to simply keep avoiding the debt, it won't just 'go away'.
There are quite a few things that an individual could do to help write off credit card debt. Examples would include stop charging, budgeting, making aggressive payments, and see about credit counseling.
Not if it is creditor debt, such as credit cards.
ia an additional credit card holder liable for the whole debt of the credit card account