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Have the collection agency send a written agreement accepting the settlement or payment amount agreed upon BEFORE rendering any payment(s).

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โˆ™ 2006-06-20 18:13:41
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Q: How do you pay a collection account?
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Where do you pay collection accounts that are reported on your credit report when the company is out of business or no longer handles the account that was reported for collection?

You pay the collection agency.

Do you have to pay the original balance on account that has been sold to collection agency?


Bank account debt collection?

I have a charged off account at the bank of 146.00 how do I pay that off when I'm unemployed I have a charged off account at the bank of 146.00 how do I pay that off when I'm unemployed

BF won a judgment against you for a collection The collection company has garnished your checking account you cannot pay bills or anything your account is frozen This is causing you a financial hard?

Sounds like Karma to me.....

What percentage of the debt do third party collection agencies typically pay for a delinquent account?


What is an open collection account?

A collection account that has not been paid off.

What can you do to get out of your contract with att?

Pay the termination fee other than that... Nothing. You can default the account and just not pay and leave but they will most likely send for info and account to a collection agency and take you to court.

Can a collection agency freeze your bank account in NY?

If you are sued, then yes. First, the collection agency must try to collect from you. Then they can sue you if you don't pay. If they win, the judge can issue a judgment against you. And that is how they can freeze your bank account.

If you refuse to pay a doctor referred by a 'if we do not win you do not pay' lawyer who took a car accident case will it hurt your credit?

Is the doctor going to turn the account over to a collection agency? A collection account would hurt your credit. Is the collection agency going to sell the account to another agency, thus extending the time period it shows on your credit report? If they do, it could hurt your credit for an even longer period of time.

What is a Derogatory public record or collection?

== == A Deragatory record is an account that has had a history of late payments. A collection account is an account that was not paid on time or at all, and was closed by the creditor and sold to a collection agency.

If you offer to pay a lessor amount on a hospital bill then was previously agreed upon can they still send the account to a collection agency?

Yes. You have a legal contract to pay the agreed upon amount. If they did not accept your latest offer, they can send the bill to a collection agency.

If you pay a collection account will it stay on your report for 7 more years after the payment?

Yes. And it stays on 7 years from the date of payment.

Can a collection agency continue to report a collection account to the credit bureau after the account is sold to another collection agency?

No, once a collection agency relinquishes their claim to the account by selling it they must remove all negative trade lines related to that account from your credit reports. Hope this helps ST

If you are advised not to give your bank account information to a collection agency does that mean you should not pay by personal check?

It is in the best interest of the debtor to not allow access to his or her financial information and most particularly not to agree to an automatic withdrawal from a bank account by a collection agency. The safest method is to pay other means, such as a USP money order with return receipt.

Can a collection agency garnish your pay check?

No a collection aggency cannot garnish a pay cheque

Can a sold credit card account be collected on if the account is reported as charged off with a zero balance?

It may be zeroed out w/ the orig company because they sold it to the collection people. DO NOT PAY COLLECTION AGENCIES ANYTHING!! google "fair credit act". lots of info

How do you pay off your credit collection?

Pay it!

A collection of account receivable will affect what account?

A collection for an account receivable will affect two accounts. Cash and the Account Receivable that it is related to.For example, a customer has purchased a computer on account for $1500 and they pay you $500 towards the balance, the two accounts will beCash (db) $500Account Rec-*customer name - (cr) $500Not only did you receive cash, which increases your cash (debit) but the customer paid toward his account and it reduces the amount he owes (credit).

Can a collection agency freeze my bank account?

They can't freeze the account initially. First, they must try to collect the debt from you. Then, they can sue you if you do not pay. If they win a judgment against you, they can freeze the bank account. Sometimes collection agencies sue people for debt that is not their or that is past the statute of limitations. Learn your rights by reading up on the FDCPA.

Can a hospital sue for nonpayment?

Yes, a hospital can sue you for nonpayment. If you fail to pay your hospital bill, the hospital will report your account to a collection agency.

Should you pay off a collection account?

YES. That is money that you owe and are legally liable for. Not paying it off is going to do nothing but hurt you in the future

When does an account become uncollectible?

"Bad debt expense, or noncollectable accounts expense, or doubtful accounts expense. When does an account or a note become noncollectable? There is no general rule for determining when an account is noncollectable. once a receivable is past due, a company should first notify the customer and try to collect the account. if after repeated attempts the customer doesn't pay, the company may turn the account over to a collection agency. After the collection agency attempts collection, any remaining balance in the account is considered worthless." -Principals of Accounting book, page 394-

Do you have to pay for a Google account?

no, you do not have to pay.

Is there a way to pay a collection agency a current bill without it being applied to a bill over 10 years old first?

Yes. Simply pay the bill using the current account number. If their is a previous account that is over 10 years old, they legally cannot take your money for the previous account!

If you owe a company money and it is placed in collections can you pay the original company or do u have to pay the collection agencies?

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.