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Is it a good idea for me to transfer the debt I owe to a collections agency to another credit card?
Wiki User
∙ 15y ago
All you will be doing by this action will be to prolong the inevitable. That is unless you are expecting some large windfall with certainty with which you intend to pay off all your debt. The only thing that comes to mind is that you won the lottery. Winning the lottery or some other sizable, certain windfall you intend to use to pay the balance is the only reason I would ever suggest transferring debt balances; the only legitimate reason.
Do the math; what will the move cost you? You'll have to look at the interest rate that the credit card charges, as well as any transfer fees. If the amount is the same, then you should stay put. Keep copies of all cancelled checks for your records. Also, remember to get a letter stating "paid in full," when you are finished and send it to all three credit agencies. Keep a copy with your records, so that no zombie credit agencies can come to you later.
Wiki User
∙ 15y ago
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Who is ICC collections?
Interstate Credit Control - they are a collection agency
Can I use my credit card after I pay off the collections agency?
No. Once it is sent to a collection agency the company has closed the credit card.
Is it possible to go outside the country even if you have an unpaid credit card account?
Unpaid credit cards won't effect your ability to travel. If left unpaid, they will be charged off and likely assigned or sold to a collections agency. The collections agency will continue to attempt collections, and your credit will be impacted negatively for seven years.
What does chase balance transfer stand for?
A balance transfer is the transfer of balance in an account or a credit card to another account.It also refers to transfer of outstanding balance from one credit card to another credit card.
What is a balance transfer?
A balance transfer is when you have money in one bank and transfer that money to another bank. It is also when you have a balance on one credit card and transfer the balance to another credit card.
Who is ICC collections?
Interstate Credit Control - they are a collection agency
Can I use my credit card after I pay off the collections agency?
No. Once it is sent to a collection agency the company has closed the credit card.
Can your unpaid bills be sent to collections if you are making an attempt to pay them?
Yes. The creditor is not required to accept a payment arrangement, and at any time may transfer the debt to inside collections, or an outside collection agency. (For non-credit card debts)
Is it possible to go outside the country even if you have an unpaid credit card account?
Unpaid credit cards won't effect your ability to travel. If left unpaid, they will be charged off and likely assigned or sold to a collections agency. The collections agency will continue to attempt collections, and your credit will be impacted negatively for seven years.
What happens when a medical bill goes to collections?
At its discretion, the medical biller will report to one or more credit reporting agencies that the debt has gone to collections. The collections agency will report it, as well - also at their discretion. You can negotiate for payment with the collections agency.
If you settled a charged off account with a collections agency for less than the full amount can they resell the difference to another agency?
Yes unfortunately they can. Companies today want the charged off account money and will sell it to another agency in order to get this. It will show up on your credit report under another company...so you have 2 listings on your credit report for the original account.
How can you dispute outdated collections on a credit report?
If you identify information in your credit file that is incomplete or inaacurate, and report it to the consumer reporting agency, the agency must investigate unless your dipute is frivolous. See www.ftc.gov/credit for an explanation and procedures
What does chase balance transfer stand for?
A balance transfer is the transfer of balance in an account or a credit card to another account.It also refers to transfer of outstanding balance from one credit card to another credit card.
How do you send someone to collections?
To send someone to collections, you will need to have a collections account with a credit reporting agency. You will also need to give the person notice of their debt along with at least 90 days of statements.
What is a balance transfer?
A balance transfer is when you have money in one bank and transfer that money to another bank. It is also when you have a balance on one credit card and transfer the balance to another credit card.
How do i find out if you have this account?
my credit car d wsa sold to another agency for collections the collection agency gave me your phone and said you have my account orginal crdiror legacy card card 4239801024374221 if you dont have it who does phone no please and co name thank you
Where may one balance transfer credit?
If one wants to transfer a balance from one credit card to another credit card, the gaining credit card will arrange the transfer. There is a transfer fee involved with the transaction.
