Unless you have a specific repayment plan that the collection agency agreed to, there is no legal reason that cannot sue the cosigner.
No
They stop collecting
A collection agency is not hired to get the amount paid in payments they are paid to get the amount in full. At this point the place you originally owed the money to and did not pay may or may not be willing to take payments being that they have now hired the collection agency to get the money from you. YOu can call the original creditor and tell them you are willing to pay and if they say no then you must pay the collection agency, I have never heard of any of them taking payments. When they get hired they try to collect as much as possible of the owed amount so they can get a higher commission. They dont want payments they want money in full....
Because they don't. It is a lot of agency's policies.
It would depend on the agency's established collection procedures. Usually the cosigner is notified after all attempts to collect from the original debtor have failed. The CA will then attempt to collect the debt from the cosigner before deciding whether to inititate legal action.
Only if the 'co-signer' also has an ownership interest in the car.
if collection agency is not from your lender, but third party, then you need to fax them proof of your payments to your lender or financial insitution and have them send you a letter stating that they will not report you to credit bureau. and also have them contact the collection agency you are making payments. asian623 http://www.myspace.com/scionturboracing
If the debt was properly assigned by the original creditor, yes. If you are making payments to the Original creditor than ask them to pull it back from there Collection agency, then dispute with the CRA's and when they update it should delete
Most hospitals farm out collection accounts after 90 days of nonpayment to outside collection agencies.
yes
== == 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.
yes and an accounting too. To be certain, make all payments in person at their office. You may request a reconciled statement showing all payments as well.