0
If you make a loan does the loan co have the right to pay a debt collection agency for a debt that the lender wrote off and there is no lean or court order for this debt?
336islander
Absolutely.
Write off is an accounting entry done (required) by the lender to reflect on it's financials that the income/asset is unrealizable. It does not effect you or change your obligation to pay in any way.
The owner of a debt may hire anyone, or sell the rights to it to anyone, for any amount at any time. Again, it does not change your obligation to pay in any way.
If they get a court order, that is just a prelude to making it easier to seize your property and prove the right to garnish your wages...allowing for more collection actions...and the judgment remains good for 20 years.
Wiki User
∙ 12y ago
Add your answer:
Earn +20 pts
Can a collection agency seize you assets?
No. A collection agency can apply for a court order to recover a debt which may mean seizing assets.
Can a collection agency take my state tax refund in Wisconsin?
Not without a court order.
Can a collection agency take money from you without a court order?
No, they need a judgement. Otherwise, they need your permission.
Can the creditor and collection agency both contact you?
Yes. Unless there is a court order prohibiting contact, anyone can contact you.
Can a collection agency put a garnishment on a bank account without an order from a Judge first?
No they can't, they must have a court order from a judge first.
Can a collection agency freeze a bank account in Pennsylvania?
Collection agencies do not and cannot freeze accounts in any state. Only the courts can do this. However, if a lender has a valid judgment against you for a bad debt, any collection agency they hire to recover it can serve your bank with an order of garnishee and attach the assets in the accounts you have there.
Can the collection agency touch your bank account if your student loan is in default?
A collection agency can only touch a bank account if you either give them permission or they have a court order. In order to get a court order they have to go through the full legal process including trial. The Student Loan on the other hand, like the IRS, does not have to go through the legal process.
Can a collection agency garnish wages without a court order?
No, they must follow the legal steps that are required by the laws of the debtor's state.
Is it legal for a collection agency to use the term 'judgment' on your credit report without a court order or hearing?
No. Judgments can only be granted by the court, after a lawsuit has been filed and won.
Can a collection agency freeze bank account in ca without you being notified?
Agency cant freeze your bank account at all, They can go to court asking to freeze your account, then a court order only can freeze you account, an account cant be freezed by any third party order.
Can collection agency garnish from your check a week in Arizona?
A collection agency cannot call your employer to garish your wages. In order for your wages to be garnished, you must be sued by the collection agency. And the agency must win a judgment against you.
Can you request that a foreclosure sale be dismissed by the court if the Plaintiff did not adhere to a court order?
If the lender's failure to obey a court order is serious enough to cause the foreclosure to be defective then you could ask the court to dismiss the action. However, you should seek the advice of an attorney or a local legal aid agency who could review the proceeding.
