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No. A person is in collections precisely because there's a bad credit history. Collection companies would be foolish to accept a credit payment from such a person. They accept checks. * The method preferred by a collector is automatic withdrawal from a debtor's checking account. However, it would not be a good choice on the part of the debtor to give such permission. To answer the question, no it is not illegal in terms of there being an established law forbidding such a transaction.
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Are your rights the same if your credit card debt went to a legal firm and not a collection agency or is a legal firm considered a collection agency?
Yes, a collections law firm, is still defined under the FDCPA as a collector. They are required to follow the same regulations that apply to a regular collection agency.
Can a collection agency file a judgment on you for credit card debt in Texas?
Yes, a collection agency can file a judgment against you for credit card debt in Texas if you fail to repay the debt. This could result in wage garnishment or liens on your property. It's important to address the debt or negotiate a repayment plan to avoid legal action.
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.
If you settle an old credit card debt with a collection agency paying the negotiated price in full will the collection agency remove the collection from your credit report?
No the collection will not be removed from the credit report. They will show it paid in full.
Can a collection agency sue for unpaid credit card debt?
yes
Is your husband responsible for your credit card debt in ill if it is at a collection agency?
If his name is not on the card,(He did not sign for the card) Then NO! And credit cards are unsecured loans.
FDCPA in Florida protect home from credit card collection agency?
How much can a credit card collector do with a lien on your property in Fl
When a collection agency buys a debt from a credit card company does a new statute of limitations start from the day it was purchased or does the collection agency's statute remain the same?
The statute of limitations starts counting immediately when you made the last payment to either the credit card company or the collection agency. If you ever make a payment to either of them the statute of limitations will start over. If you have not made any payments to the credit card company recently and the credit card company sells the debt to the collection agency, the collection agency's statute of limitations will be from the date that you last paid the credit card company. Furthermore, if the statute of limitations is over and the collection agency continues to keep collecting the debt, you can send them a letter (certified is the preferred method) to stop all contact with you. Under the Fair Credit Reporting Act (FCRA), they would be required to stop immediately upon receipt of the letter (unless they are taking legal action in a court then they can send you legal notices only). If they do not stop, you are entitled to collect monetary damages as outlined in the FRCA. This does not stop the collection agency from reporting to your credit report. Your credit reporting falls under a different set of rules which basically removes most collections debts (except for court judgements) after 7-10 years.
Can a credit card debt that was charged off and sold to a collection agency be reported on your credit report?
Yes.
Can you use a debt consolidation company if the credit card companies have already sold your accounts to collection agencies?
Yes, but neither a collection agency nor the original creditor has any legal obligation to communicate or accept the terms offered by a debt consolidation agency.
Can a credit card company or debt collection agency sue you for an unpaid debt if you no longer live in the state where the debt was incurred?
Yes. Moving does not eliminate your legal obligations. If you could, you would not be able to use a credit card outside the state you live in.
What kind of service does a collection agency provide?
A collection agency is commissioned to collect money from those who have defaulted on credit card bills or loans. The agency tries to recover as much money as possible.
