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The usual procedure is to contact the creditor by phone, and follow up the phone contact with written correspondence outlining the terms that were agreed upon. You can find a sample letter of that type of creditor/debtor correspondence at http://www.fair-debt-collection-com

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โˆ™ 2005-10-02 17:59:05
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Q: Should correspondence or phone calls be used trying to work with a card company who has charged off your account to ask them to accept payments on the charged off account?
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Can your mortgage company attach your savings account if you are behind on payments?

No.


Can a credit card company reopen a charged off account?

No, a credit card company will not reopen a charged off account. They may choose to grant you a new line of credit, but this would be rare.


Payments which are due to the company but which have not yet been collected is called what?

Account receivables


Can you close your credit card account and continue to make payments?

No, what usaully takes place is that the credit card company freeze your credit card account and you continue to make payments


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.


If you quit your job is it legal for your boss to forward your emails to somebody else in the company?

If you use a work email account, your correspondence is legally the property of that company.


How are credit accounts affected when another company buys them out?

When often another company buys a credit card company, they have purchased your account. Most often, it is business as usual, and payments are directed to the new owner of the account.


Can a credit card company close your account charge it off and still continue to add late fees and interest to the account?

they can if it contains a balance. if they charged it off and gave you a zero balance and a pay off letter then they cannot. If they closed the account and reduced the amount you owe you are still responsible for the payments including late fees and interest.


Can a company take money from your bank account without permission?

It depends. If:you have a monthly loan repayment agreement with the company wherein the company automatically deducts your monthly payments from your savings account oryou have defaulted on your loan payments for more than 2 or 3 months and haven't contacted the company reg. the sameThen, the company can withdraw money from your account (if there is any cash available) towards your loan repayment. Otherwise the company cannot deduct any money from your account without intimating you.


What does account impounding mean?

Account impounding is an accounting term used to describe an account that is maintained by a mortgage company. This account collects hazard insurance, property taxes, private mortgage insurance, and other required payments.


What services does cenlar mortagage have?

Cenlar is a subservicing company. A company that provides mortgage subservicing will collect your monthly mortgage payments and maintains your escrow account for tax and insurance payments. Many banks use them to handle the maintenance of their mortgage loans.


Is there a difference between a signer on a checking account and an owner of the account?

The owner of an acount is the party responsible for the provision of sufficient funds to the account. A signer on an account is a party authorized by the owner to withdraw from the account. Example: Company ABC owns the account; Treasurer Mr. XYZ is authorized to withdraw funds (make payments, etc) from Company ABC account. The owner of the account can also be a signer of the account as in a personal checking account.


Where could one find information on take over payments?

Taking over payments can be accomplished by calling the phone number on the bill you wish to assume responsibility for and telling the customer service representative of that company that you wish to take over the account. Depending on what type of company it is, you may need the permission of the account's previous owner.


How can you stop a website from taking monthly payments from your credit card after repeatedly asking them to cancel your subscription?

First of all, contact the issuer of the account that the payments are being taken from. You may want to do this by phone and in writing, just to document all correspondence. I would send the request certified, request receipt requested. [If you contacted the company, that is charing your account, did you get the name of the rep? If not, call again to request that the charges be stopped and the account credited for the full amount charged.] When contacting the credit card issuer, dispute the charges, again, in writing. Use the address on the back of a current statement. You should receive a confirmation of the dispute, from the card issuer. If all else fails, contact your State's Attorney General to file a complaint. Another good site to access is FTC.gov. If the company that is charing your account is a bank or 'N.A'., you can also contact the Comptroller of Currency to file a complaint.


Can you go to jail for closing your bank account on a payday loan company?

Can I be charged with bank fraud or any other criminal offense for closing an account on a payday loan?


What is a 1099 forms used for?

The 1099 tax form is used to report income payments to the IRS such as dividend payments that were received from a mutual fund, company, or other investment. For example, I get them from my account at Charles Schwab.


Can a collection agency charge interest of 1030 to a charge off account that has been paid down to 700 from 4514 but you missed two months?

The collection company has probably charged interest sincethe day they received the account. The interest rate can differ from state to state on a charged off account. So yes, they can but that amount is not just for two months. You need to ask for a total breakdown on the account and see if the interest charged is correct.


Can you repossess a vehicle if it's been charged off on your credit?

Just because the company charged off the account, does not mean that they don't want to be paid...so if the car is still assessible...they can repo it. Charged off on your credit means that it is no longer an active paying account..the company took a loss for that amount. A different department, "Profit & Loss" will take over trying to collect any way possible. Sorry.


How do you cancel your paid membership on moshi monsters if you are suspended?

If you have a recurring payment, you can contact Moshi Monsters through their 'Contact Us' page to discontinue the payments or you can contact your credit card company to stop the payments. If you were suspended and still had paid time on your account, Moshi Monsters will revert the account to a free Basic Account once the paid time has run out.


How do you accept credit card payments?

In order to accept credit card payments from your business, you would need to open a merchant account with a credit card acceptance company. The merchant account will provide you with a solution for taking credit card payments as well as settling those transactions so that the money that you are owed can be taken from the customer and deposited into your business account. For more information on taking cards as a form of payment see these resources:


How do you get an account charged off?

It is up to the discretion of the credit card company. Most companies will charge off a card after 120 days of non payment. You can stop the charge off process by calling customer support and speaking with a CSR. Once a card is charged off you usually can call customer support and get it turned back on for a nominal fee and possibly payments. This varies by card and you will have to call them to find out.


What if you lease a car a month later you find out the leasing company has no record of your account can you keep the car for free or give it back with no consequences?

If you are leasing a car it is your responsibility to make payments. If the Leasing agent does not of record of the agreement it is still your responsibility to the bill, even if you keep the payments in a separate account. It is likely that the paperwork will resurface.


What is the usual action of credit card company's toward nonpaying creditors?

Well after 6 years of not paying a dime to household bank the account has been charged off and the collection company is sueing me.


Do you pay an electric bill online through the electric company or through your bank account?

You can pay an electric bill online through the electric company or through your bank depending on the electric company and if they allow online payments through their website. You can also set up an online payment through your own bank account as well.


How many months of data are availaable for cardholder account statement viewing?

You can get duplicate statements of EVERY transaction going back to when the account was first opened, However - you may be charged by the card company for the duplicates.

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