No. It's a violation Of FDCPA or fair debt collections practice act. They can be sued no call before 8am or after 9pm your time zone.
a collection agency will usually take up to 30% off a debt but only if it is over $500 i once owed $5,300 on a returned vehicle and they were willing to take $3,100 but you can hustle your amount owed. all they want is some of the money anyway. There is no specific set amount. You must negotiate with the collection agency. They will settle for whatever they can get in many circumstances.
over 500 because it was a collection or they shall call it a suvenir
The term assigned in this instance means the original creditor has assigned or given the right to collect the debt from you to another entity, such as a collection agency. If there is a proper assignment, you no longer owe the money to the original creditor and it may likely refuse to accept payment. Now your debt is owed to the company the debt was given to. Sometimes, unpaid debts are sold to collection companies for maybe 50% or some other higher or lower percentage of the unpaid amount. Now the collection agency owns your debt. This is why you might be able to make a deal with the collection agency to pay less than the amount owed. If a collection agency pays 50% of the debt, then contacts you, it will want the full amount. If you can't pay it they will sue. However, suing and collecting the full amount through garnishment is a slow, time-consuming process. Often the agency prefers to get something more than it paid in order to make a profit. If the agency paid $500 to buy a $1,000. debt, it might be very happy to get a payment from you in a short time for $700. That way it made a quick $200 with not much work. Remember when dealing with collection agencies that claim the debt has been assigned to them for collection, you have a right to see that assignment in writing before sending them anything.
If you legally incurred the debt then you are responsible for it until it is paid. A company other than the company to which you were originally indebted may purchase the rights to your debt and you are responsible for paying them. There is no time limit on that debt. A collection agency can legally pursue you until the debt is paid in full. However, there is a time limit on the negative consequences of not paying the debt. In most circumstances that limit is seven years. Seven years from the time you became delinquent with your original creditor. Whether or not your debt was purchased by a collection agency, it should not be reported on your credit report or affect your credit score after seven years. The only time the debt could reappear is if you take an action on it. For example: In 1997 you applied for and received a store credit card and charged $1000 in merchandise. You did not pay the bill and after their attempts to collect the debt fail, the store sells your debt to a collection agency in 1998. That agency sells your debt to another agency in 2000. In the meantime, you pay all your bills on time and have an otherwise spotless credit history. In 2004 your $1000 debt will no longer appear on your credit report and your credit score will be higher because the old debt is no longer figured in the calculation. The collection agency is not doing anything illegal by contacting you regarding your debt. But it is no longer affecting your credit rating. In 2007 you pay $500 toward the debt. Your credit report would reflect you have a $500 debt to the collection agency and your credit score would drop. I hope this answered your question.
No. There are laws regulating how a debt is collected. The original creditor can sell an account, for example that is $5,000 to a third party for any amount they agree on. Even if the account was sold for $500 the collection agency can get the entire $5,000+ or at least try.
$500
yes
$500
500
500
A collection of paper is commonly referred to as a stack or a pile.
yes it is illegel