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Letting the credit card company send you to collections since your credit is already shot to avoid paying future interest is this a good idea?
Wiki User
∙ 19y ago
If your goal is to avoid future interest, letting an account go into collections is not the way to go. Collection accounts continue to accrue interest and fees, in addition to ruining your credit. If the balance gets high enough, the creditor or collection agency may file suit against you to recover the amount owed.
Wiki User
∙ 19y ago
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Can a company who bought a charged off account try to collect interest on the account?
Yes, interest and fees are still charged when an account is sent to collections or purchased by a third pary collector.
Does the company Lakeside Collections offer online purchasing?
The company Lakeside Collections offers a large variety of products for sale. Some products that can be purchased from Lakeside Collections are wedding gifts and furniture.
Does the interest and finance charge stop each month after a credit card charge off?
No - I am a collector and service primarily unsecured credit card debt. Per the cardholder agreement that was signed with the credit card company, the account holder is often liable for a LARGER interest rate after an account goes into collections. This may not always be the case, but I rarely see credit card collections that have interest rates lower than 18%. Finance charges are not often applicable when the tradeline has been closed and charged off into collections.
What is the meaning of ready for collections?
"Ready for collections" means that a company has attempted to collect a debt from a customer without success and has now passed the account to a collections agency for further action. At this point, the collections agency will try to recover the debt on behalf of the original company.
Can a company fire you with out letting you know?
No, they have to inform you.
Are the lakeside collections abc distributing and ltd commodities the same company?
The Lakeside Collections, ABC Distributing, and LTD Commodities are the same company. Each company provides unique wholesale products via catalog and online.
Can a debt be erased if a phone company cannot find your information in their system and says the debt is in collections but collections say they sent it back to the original company?
That would be a decison that would need to be made by the court.
Micro Fish Company recognized 10000 of interest expense in 2007 The balance of the company's interest payable account decreased 2000 The amount of cash paid by the company for interest in 2007?
Company has paid 2000 cash for interest due to which interest payable reduced by 2000.
What is the role of collections department in finance company?
To see to it that the money that is owed is received.
I got a letter from a collections agency who states that I can still pay the balance due with the company I owe Blockbuster I have already paid the balance Will this appear on my credit report?
Very possibly. Contact Blockbuster immediately to try and resolve.
Can a gym send you to collections?
Any company, including a gym, can send a bill to collections if money is owed. If you pay the bill, the collection will be taken off your record.
Who is the major shareholder of target?
Capital Research and Management Company...with a huge 14% interest in the company Capital Research and Management Company...with a huge 14% interest in the company
