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How long can a collection company try to collect on an account?
Wiki User
∙ 15y ago
Until your state's statute of limitations runs out on that debt.
Wiki User
∙ 15y ago
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How long can a collection agency have an account for?
There is no time limit. They may "have" the account forever, but they may only collect on it for seven years from the date of last payment or ten years in the event of a judgment.
Can collection agency collect or report if charge off accounts are deleted after 7 yrs?
Attempt to collect: yes they can attempt to collect long after the 7yr tradeline expiration date. Report: no since the very first account default triggers the 7yr deletion timer not when the collection agency receives it from the original creditor.
What is the statute of limitations for debt collection in Michigan?
There is no statute of limitations for debt collection in Michigan. You can continue to collect as long as the debt is owed. The debt can be sold as well.
What does it mean when an account is long outstanding difficult to collect the amount or it should be internally adjusted?
The account is considered an uncollectible account. The account must be adjusted so that the business can balance its books.
How long does a company have to collect a bad debt?
There are not time limits on debt collection. There are however, statute of limitations relating to the filing of lawsuits to recover monies owed. States establish laws as to the time frame and the type of debts that are covered under SOL's.
How long can a collection agency have an account for?
There is no time limit. They may "have" the account forever, but they may only collect on it for seven years from the date of last payment or ten years in the event of a judgment.
Can collection agency collect or report if charge off accounts are deleted after 7 yrs?
Attempt to collect: yes they can attempt to collect long after the 7yr tradeline expiration date. Report: no since the very first account default triggers the 7yr deletion timer not when the collection agency receives it from the original creditor.
How long can a lender collect on an auto title loan?
usually a lender will collect on a loan within there own departments (collections) once the account agings older then it gets transferred to a collection agency who will try to collect on the loan aggressively so its best to talk to them directly and make some type of repayment plan.
How many years of not making a payment can a credit card company still collect from you?
as long as they want to, Generally they will sell the account to a collegetion agency after 6 months of non-payment
Can a credit card company collect on a debt over seven years old?
Yes. Even though the chargeoff line item should come off of the credit report in seven years, the credit card company may attempt to collect their debt for as long as they wish (assuming no fair credit collection laws are broken in the process).
What is the statute of limitations for debt collection in Michigan?
There is no statute of limitations for debt collection in Michigan. You can continue to collect as long as the debt is owed. The debt can be sold as well.
If you already paid a debt can a collection agency legally continue to try to collect the debt?
Not as long as you can prove you paid it.
Can collection agencies tap a personal bank account?
Yes! Creditors can garnish a personal checking account. As long as the creditor has the checking account info they can garnish a checking account.
What does it mean when an account is long outstanding difficult to collect the amount or it should be internally adjusted?
The account is considered an uncollectible account. The account must be adjusted so that the business can balance its books.
If a collection is sold to a new company does the 7 years start over?
No. Just because a debt is purchased by another company, the terms of the transaction can not be changed. However, the statue of limitations only starts when there is no activity on the account for a long period of time. EZLIMIT
How long can a company hold on to your check?
i wrote a cash check to my self and paid it back 4 mouths later now the collection deptment came back to collect after 10 years and we had a chapter 7 they also said they were the goverment what can i do.
How long does a creditor have to go after someone to collect a medical bill in Ohio?
I believe in Ohio a medical creditor can attempt to collect a bill for 7 years. However, they can hold onto the account as long as they decide.
