Do NOT pay any money to a collection agency.......send your money to the debtor, the person you owe it to. Send it in the form of a check or money order. NEVER PAY A COLLECTION AGENCY
You have 3 options: You can write a letter of dispute to the credit reporting agency. By law the CRA has 30 days to verify the item in question. If they are unable to verify, the account is shielded from view on that credit bureau. You can request that the original creditor or collection agency withdraw the account from the credit bureaus. This is generally not accomplished on accounts that have already been paid. You can wait 7 years from the time the account was last used for it to be shielded from view.
It is unlikely that the account was "sold" to a collection agency. Rather, the agency was contracted to recover the debt. The "charge off" of the account only affects the original creditor, and represents a loss reported against the company's taxes. If the collection agency has attempted to recover the debt and has been unable to, the original creditor will likely pull back the account and refer it to another agency in hopes of greater success.
Technically, maybe. Here's the thing, if a collection agency shows by their records that they have attempted to contact you and you either did not respond or they were unable to make contact, then yes, they can recover any costs associated with collection of the debt. That being said, you would be hard pressed to prove they did not contact you or attempt it. I essence you would be attempting to prove a negative, and that cannot be done (except in the case of theoretical mathematics).
New Falls Corporation 100 North Center Street Newton Falls, OH 44444 (330) 872-0918 ...or try the batinaol recovery for collection agencies there is a list
Debt collection is a process whereby a company does not receive due payment from the client, they then hand the account over for debt collection. This can eventually involve baliffs in your house and/or going to court.
No, the original crditor was removed because the account was sold to a third party collector. The entry will remain on the report for the required 7 years from the DLA. You can dispute the collection agency entries as well. Often times if you have paid the debt, the collection agency will no longer keep records, thus be unable to prove the debt when you dispute it. They more than likely won't even respond, as they got their money and don't care anymore.
A suit is possible and some creditors are more aggressive than others, but most won't mess with a suit for anything less than 1000. They will still try to collect however and eventually they will be unable to find another agency to pass it off on as it ages since it is a smaller amount. It has probably already been discharged and forgotten by the original creditor. Exceptions would be something like the IRS- those types of debts don't go away.
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Agency of necessity is a type of relationship whereby one party can make essential decisions for another party. Agency of necessity is recognized by courts, and generally applies when one party is unable to make decisions by themselves.
MassHealth is an agency that provides Medicaid and CHIP insurance. The people that it provides help to tend to be on a low income and unable to pay for insurance.
The credit rating of both the primary borrower and the cosigner are in jeopardy. Talk to the creditor immediately about options. Consider a debt counseling non-profit agency who may be able to help. Consider other sources...family? Selling an asset? A second job?
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