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If a debt goes to a collection agency what payment plans are acceptable?
Wiki User
∙ 8y ago
Pay what you can/want- $5.00/month- If the debt is large enough, they may take you to court over it, but not likely. They will use all kinds of scare tactics, though.
Once a debt goes into default, the entire balance is due. The original payment terms no longer apply. A collection agency, junk debt buyer, factoring company or any other creditor no longer has to accept payment of any kind. If they do, it is within their own discretion. There are also interest charges allowable under state law and well as the contract that orignally established the debt.
Should a collection agency agree to accept partial payment(s) on the debt, such a decision would be based on business/profit considerations.
Sorry to disagree, The CA will not accept a $5.00 payment, never happen. Any agreement should be in written form, signed by both parties.
Wiki User
∙ 8y ago
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What companies offer business ideas for restructuring payment plans?
One can find a few companies online that offer business ideas for restructuring payment plans. 'Settle-My-Debt' can restructure payment plans on loans and other debts. 'Arrow Global' and '4R Business Recovery' also offer business ideas to restructure payment plans.
What is the standard on payment plans for a kitchen remodel?
There is no standard on payment plans for a kitchen remodel. There are typical payment plans where a deposit is paid when the contract is signed, which is generally 1/3 of the total cost of the project stated in the contract. The second payment of 1/3 is given at the half way mark. Then the final payment at job completion.
Where can one get information on payment plans?
The best place to get factual information on payment plans is to visit the IRS. This can be done in person by making an appointment at a local office, or on their website where information is set out in a step by step manner.
What if your payment is late on your mortgage repayment plan with your bank?
To gain indepth knowledge about the mortage plans checkout {| |- | http://www.subprimemortgageplan.com/ |}
What is in a Prudential 401k?
What is included in a Prudential 401k will depend very much on the individual plan. Plans vary based on acceptable risk and reward structures.
Do you make payment plans ?
Do you make payment plans
Can you make payment plans to a collection company?
Yes. There are many companys that do this. They work with the creditors and help you make the payments that you can afford.
Is there a dental clinic in Birmingham,Alabama that offers payment plans?
Is there a dental clinic in Birmingham,Alabama that offers payment plans?
What companies offer business ideas for restructuring payment plans?
One can find a few companies online that offer business ideas for restructuring payment plans. 'Settle-My-Debt' can restructure payment plans on loans and other debts. 'Arrow Global' and '4R Business Recovery' also offer business ideas to restructure payment plans.
What is the standard on payment plans for a kitchen remodel?
There is no standard on payment plans for a kitchen remodel. There are typical payment plans where a deposit is paid when the contract is signed, which is generally 1/3 of the total cost of the project stated in the contract. The second payment of 1/3 is given at the half way mark. Then the final payment at job completion.
What is a common payment plan that bail bondsmen offer?
There are no "common" payment plans. Some states regulate bail bondsmen on a state level and through the insurance commissioners office.. the length of payment options is determined by their rules. If there is no regulations in place for the bail bondsmen in a state then the bonding agency it self determines what it would allow. www.wikiwikibailbonds.com
Do vets accept payment plans?
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Collection Agencies?
Collection agencies, their practices, and the rights of both their clients and debtors are often very misunderstood. When a collection agency begins the process of collecting against a debt, it is important that the debtor understand their rights, what is expected of them, as well as how the collection process works. Third party collection agencies are a party that have no real interest in the debt, the creditor, or the debtor. The Fair Debt Collection Practices Act highlights the practices and methods that a third party collection agency may or may not use to secure payment against the debt. Collection agencies are allowed to attempt to make phone contact with a debtor between 7am and 9pm local time. A collection agent cannot reveal the nature of their call to anyone who identifies that they are not the debtor. If asked, however, they must provide the company’s name. Many companies will have their agents abbreviate the company name over the phone to help protect privacy. Once in phone contact with the debtor, the collection agent may make payment arrangements against the debt or they may demand payment in full. A third party collection agent cannot speak to the client directly and may speak only to the debtor, their spouse, parent if the debtor is a minor, or power of attorney. If a debtor does not wish for the collection company to continue calling their home phone, cellular phone, or work telephone, they will need to provide a request in writing to the collection agency asking for the calls to that number or combination of numbers to cease. A collection agent is not allowed to use profane or abusive language when speaking to a debtor and must always identify the nature of the call. If a debtor has already filed or plans to file for bankruptcy and the stated debt will be covered in the proceedings, they should notify the collection agent. If the debtor has an attorney for the matter, the collection agent may ask questions to gather information about how to contact the attorney in the matter.
Is there monthly payment plans on credit cards?
yes
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Where can you find the cheap auto insurance that offers monthly payment plans?
State farm offers cheap auto insurance that offers monthly payment plans. The General online website also offers it.
Where can one get information on payment plans?
The best place to get factual information on payment plans is to visit the IRS. This can be done in person by making an appointment at a local office, or on their website where information is set out in a step by step manner.
