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You should never give a collection agency or anyone else any personal information over the phone. You do not give any specifics of your particular situation but it is best to always deal with them by by mail. Then you have a record of exactly what was said and done. Many collection agencies are less than truthful and will say anything to get information from you to enable them to collect.
Never give them your bank account information and consider setting up another bank account at a separate bank if you are making payments.
You have the right to stop them from calling you at home and work. You also have the right to verification of the amount they claim you owe. You should also check the statute of limitations in your state to be sure that the time for collection has not expired.
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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.
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.
How should I pay a collection agency?
You need to contact the collection agency and discuss the situation with them. If you don't get in contact you risk legal action, but provided you show you are willing to negotiate you'll find they will be flexible. Note that collection agencies use a lot of psychology in getting debtors to pay. Some of these are quite aggressive. Try to bear in mind that none of this is personal. They're trying to get you to pay as much as they can (perhaps rightfully; perhaps not). Try hard not to lose your temper. Feel free to ask to speak to someone else, if the collector you're dealing with is difficult.
How much will removal of incorrect collection account increase fico score?
How much will removal of incorrect collection account increase fico score?
Do you still owe a debt once it is written off and sold to a receivables collection agency?
Yes. But now, instead of the nice guy that called you every month to ask nicely for payments, you will have a professional collector calling much more frequently, and then, if you still don't pay, you can expect collection action. If you have assets, they could be siezed after due process. (The collection agency must go through the courts.) If you have no assets, a judgment will be registered against you personally, which will never go away until you declare bankruptcy, (which sticks like glue for 7 years) or until you pay it off. Either way, your credit will be toast for at least the 7 years, and without declaring bankruptcy, forever.
How do you go to Discovery to see how much a collection agency has paid for a charge off?
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.
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.
What agency provides much of the regulatory information on compressed gases What agency is it?
EPA
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.
How much should hospital reduce medical bill to collect what they can?
that depends, if it has not gone to collections, they may give typically 20% reduction IF you pay right away. if it has gone to collections, you can negotiate with the collection agency for a settlement.
Can a collection agency find out if you have a checking account if you dont tell them?
A collection agency does not have direct access to your banking information unless you provide it to them or they obtain a court order to access your financial records. However, they can sometimes use various methods to locate and verify your assets, such as checking public records or contacting your bank to see if you have a checking account.
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.
What is an encylopedia?
A huge set of articles full of information about many subjects but the encyclopedie will not give you as much information as your textbook will... But it will give you an good overview of each subject:).:):)
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
Is it more effective to challenge inaccurate credit information via the reporting agency or each individual creditor?
It is generally more effective to challenge inaccurate credit information with the credit reporting agency first. The agency is responsible for investigating and correcting inaccuracies on your credit report. However, you may also need to contact individual creditors if they are reporting inaccurate information to the credit agency.
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.
