answersLogoWhite

0


Best Answer
Copy

The debt is still valid and collectible therefore the creditor/collector can use whatever means necessary to recover monies owed. Collection procedures would also include the possibility of a lawsuit if the state SOL relating to the debt in question has not expired. It is always better to pay one's debts if at all possible.

2006-08-14 15:08:27
This answer is:
πŸ€“
🀯
πŸ€”
User Avatar

Your Answer

Loading...

Related Questions

Can a credit card company collect on a debt over seven years old?

Yes. Even though the chargeoff line item should come off of the credit report in seven years, the credit card company may attempt to collect their debt for as long as they wish (assuming no fair credit collection laws are broken in the process).


A collection agency is attempting to collect for a 5 year old medical bill you do not owe can they collect in the state of Ohio?

if you do not owe it, they shouldn't be able to collect it anywhere. even if its past the deadline for you to contest the bill you should still try


Can a collection agency collect on a debt that is past the statute of limitations?

There is a federal law entitled the FDCPA. Any time you have a collection question you should search for the answer there first. An agency can attempt to collect the debt that is out of statute but they have no way of legally enforcing payment. Many times a person will pay an outstanding bill when its out of statute because they are not aware there are statutes of limitations. Sometimes a bill collection company will not even know that the statute tolled on the debt. Many times the client does not give the agency proper information purposely or by accident.....


When a small business needs help collecting delinquent payments they should?

they can hire a collection agency, they will try and collect any debts for a percentage.


How do I Collect the depreciation from Homeowners insurance claim?

If you want to collect the depreciation your insurance company withheld from your claim payment you must make the repairs to your home. After you make the repairs contact your insurance company and they should issue a check for the depreciation.


What ways government are doing to overcome economic recession?

The government must improve tax collection. It should use cheapest and fast method to collect the taxes.


Should payment be sent to the credit card company or the collection agency?

If you have a collection agency working for the credit card company then it is them you need to make payments too as it is now too late to pay the credit card company. They have sold the debt to the collection company and you will have to pay any charges on top of the debt now also. Try not to let it get that far in future, but that's easier said than done.


Can a collection agency attempt to collect a debt that was settled by another collection agency as 'not valid' a year prior?

They can attempt to collect. If the debt can be proved to be invalid the information should be forwarded to the agency via certified mail. Whether or not the debt is invalid under the terms of the orignal agreement depends on the how it would be viewed in court (if it comes to that).


When does an account become uncollectible?

"Bad debt expense, or noncollectable accounts expense, or doubtful accounts expense. When does an account or a note become noncollectable? There is no general rule for determining when an account is noncollectable. once a receivable is past due, a company should first notify the customer and try to collect the account. if after repeated attempts the customer doesn't pay, the company may turn the account over to a collection agency. After the collection agency attempts collection, any remaining balance in the account is considered worthless." -Principals of Accounting book, page 394-


Can you collect private disability and state unemployment at the same time?

Their should be no problem. I would double check with your insurance company as their may be some variation by company and state. Be well.


Is it legitimate if a collection agency sent you a letter stating that their client would settle for a certain amount if paid by a certain date and they want you to fax the letter to them?

Before making any commitments to a collection agency, you should get confirmatio from the original creditor that the collection agency has legal authority to collect at settle the debt.


How can you get dogs in zoo tycoon complete collection?

Collect them one by one until you have all of them. With this information, you should most likely be able to beat Zoo Tycoon and move on with your life.


If a property management company forgets to pay owner for past month rent should the property management company still collect fee for services?

No, It Will not. It will give free management service.


Can a collection company do business in one name and report it in another?

That's not what actually happens, even though it appears that way. When a collection agency rep. calls you about repayment, they will seldom (if ever) use the "real" company name. The reason being, if they violate federal collection laws, they want to make it as difficult as possible for you to file a complaint. This is why, if the law allows it in your state, you should tape all calls from collection agencies.


What should you collect?

you can collect moshi monsters figures or bearbricks


Why beakers used to collect solutions should be dry?

Beakers that will be used to collect solutions should be completely dry before use due the possibility of water being able to dilute the solution that will be placed inside of the beaker. If a beaker is not completely dry before collection of a solution, an inacurracy in data results may occur.


Are collections of dividends part of financing or investing activites of a cash flow statement?

Collection of dividend is always from another company in which one company invests, so it means that collection of dividend is part of investing activity and should be shown under investing activities of cash flow statement.


How do you write letter to attend a conference?

A letter to request attendance at a conference should be brief an to-the-point. It should outline your details, and the company you would represent. It should also be written on the letterhead of that company.


How long after death do you have to collect on a life insurance policy if the beneficiary can not be found?

You should contact the legal department of the insurance company and ask for its advice. The company may initiate a search for the beneficiary with the resources at its disposal.


If you have no insurance and your car was hit while parked does the other person's insurance company pay?

It should. But it's much easier to collect if you have your own insurance.


If a company really wants to impress the readers of its messages the messages should be formal and should be written in dignified languages that displays knowledge- discuss?

IF a company really wants to impress the reader of its message the message should be formal and should be written in a dignified language that displays knowledge discuss?


Can a debt collect call your employer and speak to your supervisor about the debt?

The laws a debt collection very from place to place. They are not supposed to call your employer. And they should not be discussing your financial situation with them. Unless you get a garnishment, they should not be doing that. You should read the laws for your state and find out what the rules are.


Can you collect New York state unemployment insurance if your company bankrupt?

The company's going bankrupt should not affect your getting unemployment, The company paid (or should have) unemployment taxes to the state who, in turn, pays the benefits to claimants. Therefore it is the state you look to for relief.


Should you pay the company owed instead of collection agency?

This will depend on the creditor. You can try calling them and asking if they are willing to set up a payment arrangement with you.


How can you find out who you originally owed if a debt collection company is now collecting?

After being contacted by a collection agency you have thirty days to request confirmation of the debt. Their response should include the balance owed and the place where the debt was originally incurred.