0
Is it better to pay a collection agency or let them write the debt off?
Wiki User
∙ 16y ago
if you pay the collection agency you can get back in good credit standings , ifyou dont they can get a judgment against you, and garnish your wadges , if they do a charge off it stays on your credit for up to 10 years know and it is harder to get credit with a charge off
Wiki User
∙ 16y ago
Add your answer:
Earn +20 pts
Is Australia Debt Collection a good collection agency in Sydney?
Australia Debt Collection a good collection agency in Sydney since it offers many services to people.
Once a debt is given to a collection agency can you get the creditor to take it out of the creditor's hands?
Once a debt is handed over to a collection agency, it's typically out of the original creditor's hands. However, it may be possible to negotiate with the creditor to recall the debt from the collection agency, but this process can be challenging and may require convincing the creditor of your ability to repay the debt directly. It's advisable to communicate directly with both the creditor and the collection agency to explore your options and find a resolution.
Does the creditor or the collection agency get the money you pay on a debt?
When a collection agency takes on a bad debt, in many cases they are "puchasing" the debt from the original creditor. When you then pay off the collection agency, your money will stay with that collection agency. This is the most common scenario, but some companies do have their own internal collection agencies (Capital One, for example, has their own collection subsidiary in Idaho - the Westmoreland Agency). Hope this helps!
Can a collection agency collect interest on your debt?
Yes, Collection agency can do that. But contact a good collection agency like Guardian Credit Services, they know will how to deal with customers to get money
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 debt be passed from one debt collection agency to another?
Yes - absolutely a debt can be passed from one debt collection agency to another.
Is Australia Debt Collection a good collection agency in Sydney?
Australia Debt Collection a good collection agency in Sydney since it offers many services to people.
Once a debt is given to a collection agency can you get the creditor to take it out of the creditor's hands?
Once a debt is handed over to a collection agency, it's typically out of the original creditor's hands. However, it may be possible to negotiate with the creditor to recall the debt from the collection agency, but this process can be challenging and may require convincing the creditor of your ability to repay the debt directly. It's advisable to communicate directly with both the creditor and the collection agency to explore your options and find a resolution.
What is collection agency?
A Commercial Collection Agency is and agency that collects debt on behalf of their clients, same as a consumer collection agency, but a commercial collection agency collects business to business.
Is it legal for a debt collection agency to discuss your debt with your landlord?
In general, debt collection agencies are required to follow the Fair Debt Collection Practices Act, which prohibits them from discussing your debt with third parties, such as your landlord, without your permission. If a debt collection agency is sharing information about your debt with your landlord without your authorization, they may be violating the law.
How are work commercial collection agency?
The commercial collection agency is used in debt collection in the event a debtor fails to.
In Arkansas can a collection agency sue you if the original creditor accepts payment on the debt?
If the debt was sold to a collection agency and the original creditor accepted payment AFTER the debt was sold, the money does not belong to them. If, however, you paid the debt and it was mistakingly sol after that payment, the collection agency can't try to collect. If you have proof of payment, forward it to the collection agency and deman in writing that they cease trying to collect this debt.
What is commercial collection agency?
A Commercial Collection Agency is and agency that collects debt on behalf of their clients, same as a consumer collection agency, but a commercial collection agency collects business to business.
Does the creditor or the collection agency get the money you pay on a debt?
When a collection agency takes on a bad debt, in many cases they are "puchasing" the debt from the original creditor. When you then pay off the collection agency, your money will stay with that collection agency. This is the most common scenario, but some companies do have their own internal collection agencies (Capital One, for example, has their own collection subsidiary in Idaho - the Westmoreland Agency). Hope this helps!
Does a debt collection agency have to send you something in writing?
In general, a debt collection agency is required to send notice of collection to the person who owes the money. However, simply avoiding the letter or notice does not cancel the debt.
Does a debt collector have to send you a monthly bill?
A debt collector works for a collection agency. If the angency owns the debt then you can request statements. A collection agency will send you a paid or settled un full letter. They are not a billing agency.
What purpose does the International Debt Collection serve?
The International Debt Collection Agency is a debt collection agency designed to collect debts from debtors that have not paid for goods supplied or services rendered. Debt collection agencies are designed for debt recovery, and speak on behalf of the company to which the debt is owed to work out a settlement between the debtor and the creditor.
