If you cannot afford to send a letter to each bureau (certified mail, return reciept); which could cost a total of $65.00 then I recomment you just simply tell them to stop contacting you. You have the legal right to tell them to no longer call your home. You can also enroll in a Debt Management Program with a credit counseling organization. This will allow you to pay your debts off for as little as 2% percent of the debt owed. There is a company that I highly reccoment in Charlotte, NC called "Alliance Credit Counseling, Org". There phone is: 704-341-1010. This program have contracts with most of the creditors out there, including medical, that will allow you to make a small payment of $10.00 per medical debt for each month. But, you have to make sure to make on-time monthly payments. This might only take you anywhere from 3-5 years, depending on the amount of debt that you owe. I hope this helps you. Wanda Improve Credit, LLC
There is no definite answer as creditors establish their individual collection procedures, it might also depend upon whether it is the original creditor or a collection agency.
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.
No, a collection agency has no legal power to demand disclosure of a person's financial status. If a lawsuit is initiated, the creditor's attorney can request a interrorgatories/discovery petitions, of which there are several types of legal categories. This is generally done if it is suspected that the debtor/defendant is trying to shield nonexempt assets from creditor/plaintitff attachment.
No, but the full amount of any joint debt will remain valid when included in an individual BK and the creditor can pursue collection from the non-filing debtor.
The creditor is asking to be excluded from the bankruptcy. If that is granted the debt will be valid and the creditor can resume collection action.
That's impossible to predict. The algorythm that runs the financial data is proprietary and too complicated to accurately forecast an outcome. The best medicine is, as usual, preventive. If you deal with the original creditor at the onset of financial difficulty you can usually avoid the collection agencies.
With a judgment and execution, the sheriff can. Without it no. But the collection agency can never legally access it. However, there are ways to do it illegally. Can the creditor do it... ? If you have a citizens acct and a debt with them, then yes, they can legally access whatever accounts you have with them. But a creditor can't just get access to you bank accounts. (I own a collection agency)
No. The collection agency will validate the amount for you if need be, but the creditor no longer owes you the courtesy of a statement.
No, as they are the legal agent of the original Creditor and the arrangements made with the collection agency are binding on the original Creditor.
The easiest way to find out if you are in a debt collection process is when a debt recovery agency contact you or the creditor some times handle debt collection inhouse. Usually collection agencies send a demand letter but that depends after the creditor turn to collections their receivables
How would you analyse the financial position of a company from the point of view of an: (i) Investor (ii) A creditor, (iii) A share holder
Include the original account number if you are including the original creditor. Include the account number for the collection agency if you do not have the orignal creditor information and are including them as "Care Of" for service.