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How much do creditors generally sell bad debts to collection agencies for?
Wiki User
∙ 15y ago
Twenty cents
Wiki User
∙ 15y ago
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If there is no estate of deceased family member who is responsible for debt?
Generally, the estate is responsible for paying the debts of the decedent when the debts are in the sole name of the decedent. If there are no assets then the creditors are out of luck.
What happens to the decedent's debts if there is no money only the home?
Generally, the home must be sold to pay the creditors. If the heirs want to keep the home then they must pay off the creditors.
Can collection agencies pursue you for debts incurred after you have filed a bankruptcy?
NO NOT IF THE DEBTS ARE IN THE BANKRUPTCY. If they are included in the bankruptcy, give them your case info/ lawyer's name. After that they can be fined if they continue to call. If the depts are incurred after the bankruptcy then yes they can.
Who is responsible for credit card debt when there is no estate?
Generally a person's estate is responsible for the decedent's debts. If there is no estate the creditors are out of luck. They should be notified of the death.
How do debt consolidators eliminate debt?
Debt consolidation companies do not eliminate debt. Do not confuse this with debt settlement. Consolidation companies simply merge all of your debts together into one payment a month that you make to them and sometimes lower interest rates. Debt settlement companies, however, negotiate directly with your creditors/collection agencies to settle debts for a lower, agreed upon, lump sum. This in turn gets you out of debt quicker.
If someone were receiving phone calls from a company called Commercial Collection Agency what might they calling for?
Collection agencies are companies that work on behalf of creditors to collect debts or obligations from their holders. Receiving a call from one could indicate unrepaid credit.
What are the duties of collection lawyers?
The duties of a collection lawyer is to collect debts, fees and payments from clients of their company. Collection lawyers represent banks, the government and other creditors.
What happens to unsecured debts when a chapter 13 bankruptcy is dismissed?
The debts are still valid and creditors can continue with collection procedures including, in most cases, a lawsuit.
Capital One is trying to collect debts from 2001 up now can they do?
Most debts have a statue of limitations of 7 to 10 years. Collection agencies and creditors have ways around these SOL though by selling your accounts and reaging them. You can always try to fight this, but that would mean going to court and costing money.
What companies can be considered debt collection companies?
Debt collection companies are usually companies that specializes in pursuing the collection of debts owed by individuals or businesses. They operate as agents of creditors and collect debts for a fee or a percentage of the total amount that is owed by such individuals/companies.
If you die without any estate do your debts die with you?
Generally, yes. If the decedent left no assets their creditors are out of luck.
Are kids responsible for mothers bills if she has no estate?
Generally, mother's estate is responsible for her debts. If there is no estate her creditors are out of luck.
How should you pay off your old debts?
If these debts are ones you have left for some time and creditors are now looking for payment put together a proposal on how you intend to make your contribution to these debts in writing and send this to your creditor or collection agent
If there is no estate of deceased family member who is responsible for debt?
Generally, the estate is responsible for paying the debts of the decedent when the debts are in the sole name of the decedent. If there are no assets then the creditors are out of luck.
What is the best way to have debts cleared by collection agencies?
The best way to have a debt cleared by a collection agency is to pay the outstanding debt off. The only other way to clear it off is to provide proof that the debts are not valid.
What happens to the decedent's debts if there is no money only the home?
Generally, the home must be sold to pay the creditors. If the heirs want to keep the home then they must pay off the creditors.
What is collection agents?
Companies that collect debts for other companies. They generally get a set % of what they collect.
