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How do you go to Discovery to see how much a collection agency has paid for a charge off?
Wiki User
∙ 17y ago
The only way you can find this information is if a judge rules the collection agency to release information. A good rule of thumb is 30%. Each time a bad debt changes hands it will decrease by as much as 30% to 75% depending on the age of the debt.
Wiki User
∙ 17y ago
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What kind of service does a collection agency provide?
A collection agency is commissioned to collect money from those who have defaulted on credit card bills or loans. The agency tries to recover as much money as possible.
How much can a collection attorney charge?
Whatever the client is willing to pay.
Is it better to pay original creditor who still owns account or debt collection agency who is collecting for original creditor?
Paying the collection agency will clear up your account much quicker and some creditors will return the payment to you if you send it directly to them. Most creditors sign a contract with a collection agency and cannot discuss the debt with the debtor once they place it with the agency, they must refer all correspondence, communications and payments to the agency for the life of that contract.
What percent of collections does a collections agency get for a medical bill collection?
This depends on the collection agency, but the age of the account, the location of the debt (that regulate collection laws by the state), play a big role. The older the account the higher the percentage that goes to the collection agency the percentage is negotiated between the agency and the client(this is a fact, part of a previous job).ive seen between 10% and some as high as 40%. which if you have a bill from an agency, it really isn't any f your business how much they get, you should be worried abour negotiations.
Can the recovery agency charge you money to get your things out of the car?
Ralph, they cant charge for "getting your stuff out", they CAN charge for inventory of the stuff and storage. Some states even regulate how much they have to charge.
Can a collection agency sue you for charge offs?
Sadly, yes they can. What happens is the original creditor will sell your debt to a collector for a fraction ot the cost, then the collector has the right to pursue you for the full amount plus their fees. This is how they make their money. In the meantime, the original creditor writes it as a "charge-off" because they lost money on it. They CAN sue you for the amount they purchased . YOU CAN use discovery and Find out how much they paid for the debt (25 cents or 30 cents ?) . This is their damages This is what you would owe them, If they win . - unless you don't raise the issue - the only amount the court hears is the original amount . USE DISCOVERY and find out what was paid for the debt. Then argue that the only amount that they are entitled to is the amount that they paid. What websites are used under the above term "USE DISCOVERY"?
How does a collection agency determine how much money they will settle a debt for?
a collection agency will usually take up to 30% off a debt but only if it is over $500 i once owed $5,300 on a returned vehicle and they were willing to take $3,100 but you can hustle your amount owed. all they want is some of the money anyway. There is no specific set amount. You must negotiate with the collection agency. They will settle for whatever they can get in many circumstances.
FDCPA in Florida protect home from credit card collection agency?
How much can a credit card collector do with a lien on your property in Fl
When a credit card company sells your account to a collection agency how much do they sell it for?
I'm not sure for certain, but I would say they sell it for pennies in the pound.
If you are willing to make payments on a debt can a collection agency refuse the payments and continue to harass you?
A collection agency is not hired to get the amount paid in payments they are paid to get the amount in full. At this point the place you originally owed the money to and did not pay may or may not be willing to take payments being that they have now hired the collection agency to get the money from you. YOu can call the original creditor and tell them you are willing to pay and if they say no then you must pay the collection agency, I have never heard of any of them taking payments. When they get hired they try to collect as much as possible of the owed amount so they can get a higher commission. They dont want payments they want money in full....
How much is a Stamp Collection worth that you have no idea if they are rare or worthless?
Everyone hopes to come across the "Old Stamp Collection" that had been sitting in the closet for years. Bring the collection to a local dealer for evaluation. It will be a modest fee but it could be worth the charge.
What does charge off on a credit report mean?
It means the creditor has essentially given up on trying to collect a debt from you (though they may have sold it to a collection agency for pennies on the dollar). There's also a "paid charge off", which means that, after they gave up, you paid it off anyway, which really doesn't do you much good, because a paid charge off looks just as bad on your credit report as a charge off. A charge off, of either kind, is the third worst thing you can have on your credit report, after (1) bankruptcy, and (2) repossession/foreclosure.
