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What do you do to get your money back when a collection agency put a lien on your bank account?
Wiki User
∙ 11y ago
It is assumed the creditor won a lawsuit against you and the court issued a judgment lien. You should have had notice of the hearing and received a letter of judgment against you from the court. You must pay off the lien in exchange for a release of the lien.
You may also go to court to challenge the validity of the lien, the lien amount or raise any other matter that might affect the legality of the lien. When a collection agency first puts a lien on a bank account. The bank usually may not give those funds to the collection agency immediately. Notice of the lien is given to the debtor, who then has a short time period to apply to the court to object to the turn over of the bank account to the agency. If an objection is made, the bank will not give over the money until the court rules on the objections and issues an order directing the bank to pay all, some or none of the bank funds to the agency. If no action is taken by the debtor within that time period, the bank may turn the money over to the agency without a court order.
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Wiki User
∙ 11y ago
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How long before a collection agency can file a judgment in Washington state?
In Washington state, a collection agency can potentially file for a judgment as soon as they have exhausted other debt collection methods and the applicable statute of limitations has not expired, which is generally six years for most debts. However, the timeline may vary depending on the specific circumstances of the case. It is advisable to seek legal advice if you are facing a potential judgment from a collection agency.
Bank account frozen from garnishment by debt collection agency for credit card. The account only has SSI and SSD deposits. Garmishment was released by the court. Who's responsible for returning fund?
If your account was garnished by a govt agency(i.e. the IRS). Then the IRS needs to put that money back into your account not the bank.
How do banks get their money back when they repossess an auto?
They sell the vehicle for what they can, then charge the remainder to you. They usually sell that debt to a collection agency, and the agency starts calling you for that money.
What do you do if an account was turned over to a collection agency but the original creditor accepted your payment in full?
Contact the original creditor. Provide proof of your payment. They need to retract the account from the collection agency. The account could have been sold to the collection agency or simply assigned to them. For your purposes, it does not matter which situation applies. You paid the original creditor and your credit report needs to reflect this. After they do what they need to do to get the account back; you then dispute the entries with all three credit bureaus. The original account should show as a paid collection and the other collection account should be removed from your credit report entirely.
Do collection agencies usually garnish wages?
Collection agencies are usually retained by the establishment that you owe the defaulted debt to, if the borrower ( person in debt) does not want to work with the collection agency handling their debt, the collection agency will then document the account as a refusal then send the account back to the original lender then they will garnish your wages until the life of the loan is paid off.
You had a credit card account which they charged off and sold to a collection agency ca Now you have that charge off which carries a balance and a CA collecting on the same debt What could you do?
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.
What does it mean if the original creditor recalls your account from the debt collection agency?
Same thing happened to me..... what does this mean? I have not heard anything back from original creditor and was making timely montly payments to collection agency... I am confused and a little scared
Can a collection agency issue a warrant for a payday loan check that went back?
If a Payday Loan company hires a collection agency to collect on your account they can send your account to an attorney to collect the amount of the loan and any NSF fees that you have accumulated. However, it is stated at the bottom of your contract that if you close your checking account that the loan is made from, that you can be charged with fraud.
If you've settled a debt with a credit collection agency can the original creditor buy back the account and try and charge you again?
No ... you have the proof that the debt was settled.
Can a collection agency place an account back on your credit file if it has previously been deleted by all three credit bureaus in March 2004?
Afraid so. If they have bought the account and the SOL has not expired.
If the account was sent to a collection agency who is demanding full payment what can you do to get it back where you can make payments?
Unfortunately, what YOU want doesnt mean much to the lender. THEY want their money and they have LEGAL options to obtain that money if you have it. Remember when you wanted that car??? You agreed to certain things in the contract you signed. Maybe you didnt read them, but you agreed to them. You need to get ready to make CHANGES to how you handle this account. Good Luck. Contact your lender and arrange payments. Was your vehicle taken? Thanks for everyone's responses. To roosta: thanks for your message but next time if your going to leave a message maybe you should leave a useful answer to the question. Please don't waste your time with a nasty response. I did contact the lender (53rd bank) many times. They won't talk to me and refer me to an outside collection agency. Here, let me explain the situation in the past: the 53rd bank collections department (not this collection agency) always worked with me to arrange payments. They sometimes sent the account to the collection agency who would typically call for 2 weeks "and then" the account would go back to the 53rd bank collections department. The collection agency always demanded for full payment of what was "only owed at the time" to get all caught up. This time the Collector has the account for 2 and a half months and he is offering a price break if I pay in full. Has anyone gone through this? Anything I could do to get the account back to the bank? Thanks.
Is it legal for a collection agency to try to collect on a debt that was released in bankruptcy and then sold to the collection agency by the original creditor bank?
Legal or not, this happens every day. Inform the collection agency and the original lender that this was included in the bankruptcy. The collection agency may want to see proof but usually the original lender will call and request that - that particular account be sent back. Make sure you get something in writing from the original lender--and that the collection agency REMOVES their account off your credit report--check your report 3 to 6 months later, to make sure this has been done. If you don't want to wait--send a copy of the signed letter on the lender's letterhead to all 3 collection agencies and wait for their response. Even though it will take about 30 days--this is the quickest way.
