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Is it bad to settle an account with debt collector or should you pay in full?
Wiki User
∙ 15y ago
Your question is vague. Paying in full is settling an account. If you are asking whether it is a good idea to make payment to the collector, it is fine as long as you keep all proof of payment and request a paid in full receipt when the account is settled. If you are asking if making arrangements to pay over time to the collector is a good idea, then only you can answer that with your knowledge of your personal financial situation. Refer to the previous scenario. If you are asking if it would be better to make payment to the original creditor, this is never a bad option unless you have had difficulty with the original creditor in the past. If this is the case, perhaps it would be best to pay the collector and allow them to mediate between you and the creditor.
Wiki User
∙ 15y ago
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What point can you request a settlement on credit card debt?
Settlement usually occurs when the account is past due and has been closed. You can either try to settle with the credit card company, or the debt collector that the credit company sold the account to.
Can a debt collector pull funds out of a joint account if the person holding the debt is not the primary account holder?
yes. i had it happen to me
How will settling credit card debt affect your credit score?
It will raise your score slightly. If you don't settle a delinquent account, the verbage on your credit report may read: "collection account", or "unpaid collection account". However, if you settle, the report may read "settled". By settling with the debt collector, you have made an attempt to fulfill your financial obligation. Therefore, your score will raise slightly.
Can a payday loan collector debt from a different bank account with out authorization?
The loan collector can collect from any account that you have provided access to.
Who should the debtor pay when an account is sold by the original creditor to another lender or collector?
Yes, the debt still stands. It's how debt collectors stay in busniess. When the debt or account is sold, the debt isn't erased, merely transferred. In essence, the original lender has sold the whole contract. * The debtor makes any payment agreement with the collector not the original creditor.
How can you avoid debt collector's harassment?
To avoid debt's collector harassment, it is important to settle your debts in time.
Should i give a debt collector my bank account number?
NEVER give your bank account information nor your employment information to debt collectors..
What point can you request a settlement on credit card debt?
Settlement usually occurs when the account is past due and has been closed. You can either try to settle with the credit card company, or the debt collector that the credit company sold the account to.
Can your checking account be frozen by a debt collector?
No!
In Colorado who can levy bank account?
In Colorado it is possible for a debt collector to levy a bank account. It is necessary for the approval from a court in order for a debt collector to place a levy on the bank account.
What can you do if debt collector is overcharging your checking account on what you agreed?
If the debt collector is authorized to do a debit withdrawl then there is documentation that you signed authorizing same. If the documentation you signed with the debt collector does not match with the amount being withdrawled from your account, notify your bank immediatly of the fraudulent transactions. Take the documents to the bank. Do not prewarn the debt collector that you are doing this.
If a debt collector is representing the same bank you have your account with can they freeze the account?
Sure - the operative word here is "debt collector" ... they can and will do anything within the law to make certain they are paid.
Can a debt collector pull funds out of a joint account if the person holding the debt is not the primary account holder?
yes. i had it happen to me
How will settling credit card debt affect your credit score?
It will raise your score slightly. If you don't settle a delinquent account, the verbage on your credit report may read: "collection account", or "unpaid collection account". However, if you settle, the report may read "settled". By settling with the debt collector, you have made an attempt to fulfill your financial obligation. Therefore, your score will raise slightly.
Can a payday loan collector debt from a different bank account with out authorization?
The loan collector can collect from any account that you have provided access to.
Who should the debtor pay when an account is sold by the original creditor to another lender or collector?
Yes, the debt still stands. It's how debt collectors stay in busniess. When the debt or account is sold, the debt isn't erased, merely transferred. In essence, the original lender has sold the whole contract. * The debtor makes any payment agreement with the collector not the original creditor.
If a debt collector takes money out of your account before the date that you agreed upon can you have the money placed back into your account?
yes.reason is that if the debt collector return the money in question, you can as well pay it back into your account.thank you
