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Is it true a collection agency has only 3 months to clear a debt?
Wiki User
∙ 14y ago
In general, NO -- some types of debt can "follow you" perpetually, and there might be variations due to laws of the state of jurisdiction. If you are considering filing bankruptcy (and don't have enough equity in assets that you could liquidate to pay a settlement on the debt); an excellent primer about either chapter 7 or 13 bankruptcy is "The New Bankruptcy, will it work for You?" 3rd edition by Stephen Elias, published in 2009 by Nolo; 346.078 E42N Dewey decimal. Also you might contact a paralegal or lawyer specializing in filing bankruptcy in the state of jurisdiction.
Wiki User
∙ 14y ago
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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?
No.
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.
How are work commercial collection agency?
The commercial collection agency is used in debt collection in the event a debtor fails to.
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.
If you are trying to clear up your debt do you pay the collection agency or the original business you owe to and have them try to buy back your debt?
Your main consideration is that your credit report should be at its most favorable. Therefore, whomever you contact, make sure you get in writing that you will pay the debt and, in exchange, you expect the debt to be removed from your report, or at least that the debt should be converted to "good." Usually, once the collection agency is involved, the original company will not deal with you. This is because they now have a contract with the collection agency, who will get a portion of the collected debt. Capish?
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.
