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What should you do if you are sued by a collections agency?
Pay what you owe
If you have student loans in collections and you now have the money to pay in full is it possible to have the collections company bring the account current as part of the agreement to pay the debt?
once you have paid it. It will reflect on your credit report as paid
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.
How can you stop the interest rate on a credit card debt if the account is closed?
Pay it off.
Should the bank refund me if they made the mistake?
I went to my bank to get check to pay my rent for the month. The bank accidentally gave me a check from an account which was closed over 5 years ago instead of my active account. I didn't notice the account number on the check. So I used that check to pay the rent, but the check bounced because it was from a closed account. Now the apartment company billed me $140 because of the bounced check. Should the bank have to cover that $140 bill because they are the one's that made the mistake with the check?
Will paying off a credit card account closed by the grantor raise your credit score?
No but if you pay it off before it becomes delinquient it won't hurt it either. WRONG! speaking from experience, yes. if the account is NOT charged-off, but listed as CLOSED, it will raise your score if you lower or pay off the balance. I have a closed (NOT charged-off) CC that had a balance of 2400 and I made a payment of 1700. once posted to my reports, they were raised an average of 37 points. A few weeks later i paid off another closed CC, it was a small payment of 183 which satisfied the account (zero balance). Once posted, 17point increase! I pay close attention to my reports and use several monitoring websites, so i know there were no other changes that contributed to the increase other than the payments mentioned. people on the net are correct about paying off/down a CHARGED-OFF (collections) account will not raise your score. But, a closed account is completely different! Hope this helps
You are paying 20 per month on a bill but they say you have to pay 75 can they send this to collections?
Yes. The bill can be sent to collections, who will normally try and come to a payment arrangement with you to pay off the account. You may lose service/benefit for a short time so that the bill can not be increased in the meantime.
Can you transfer a balance on a closed credit account?
No, However it may be possible to pay off your debt with a credit card.
Do you still have a pay the collections agency if you paid the doctors office with a check upon receiving the notification from the collections agency?
No, if you already paid the doctors office with a check then you should be in the clear.
What do I do if the car dealer where I pay my car closed?
Return again when they are open. If closed permanently, try to find the person who owned or managed it to ensure your account does not go into arrears.
What methods can a creditor take to make you pay the difference after a repossession?
They will most likely send your account to a collections agency. Intrest will still accrue as will phone calls, letters from the agency. This can damage your credit score and credit report. Your best bet is to pay whatever it is off as soon as possible. They will most likely send your account to a collections agency. This can damage your credit report and score. Your best bet it to pay whatever it is off immediatly.
What Goes On If My Customer Is Not Able To Pay?
In case the account is considered uncollectable, the lender continuously bill and under your guidance, pursue collections. There are various other programs for you.
