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What if a debt creditor tries to collect something from a 15 year old debt?
Wiki User
∙ 12y ago
He can try, but to pursue collection after being notified by mail that the debt is no longer valid is a violation of the Federal Fair Debt Collections Practices Act.
Wiki User
∙ 12y ago
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What if a creditor is not on your credit report but trying to collect a debt?
You must pay all of your legitimate debts. A creditor is not required to report a debt to a credit bureau in order to collect the debt you owe.
Is there a limit to how long a creditor can try to collect a debt in England?
it was that if the creditor had not tried to collect within 7 years it was expired
Can you stop a creditor from selling your account once you have filed bankruptcy?
No. The bankruptcy is to stop anyone who has a right to collect a debt from being able to collect, called the automatic stay. If the debt is listed in the correct debt owner's (creditor's) address and it is discharged, it does not matter who owns the debt.
What is does it mean for an original creditor to recall their collection?
Recall of a debt by a creditor is when the original creditor asks for the debt to be returned to them after they have sold it, often to a collection agency. This may occur if the debt has not been collected for a certain amount of time, and the debt will be sold to another agency to collect, or if the debtor offers the original creditor a settlement.
Can creditors contact family members in an attempt to collect debt?
Yes, they can. Under the Fair Debt Collection Practices Act, the creditor can call family members or neighbors in an attempt to collect a debt.
What is the length of time a creditor can collect on a debt before it is wrote off?
6 years
What is the Difference between collection agency and a debt recovery company?
A collection agency is typically hired by creditors to collect past due debts on their behalf. They often use various methods, such as phone calls and letters, to collect the outstanding payments. On the other hand, a debt recovery company purchases the debt from the original creditor and then tries to collect the funds owed. They may use different strategies and tactics to recover the debt, as they have a financial interest in the successful recovery.
In Arkansas can a collection agency sue you if the original creditor accepts payment on the debt?
If the debt was sold to a collection agency and the original creditor accepted payment AFTER the debt was sold, the money does not belong to them. If, however, you paid the debt and it was mistakingly sol after that payment, the collection agency can't try to collect. If you have proof of payment, forward it to the collection agency and deman in writing that they cease trying to collect this debt.
How many people can collect on a medical bill at once?
Only the creditor - or whoever assumed ownership of the debt.
Can you be sued after a bill was charged off on your credit record?
Yes, a 'charge off' does not invalidate the debt nor the legal rights of the creditor to collect that debt.
What is the definition of the term bad debt expense?
The definition of the term bed debt expense, is when a creditor for example, has made every reasonable effort to collect the debt, but has failed to do so.
Can a creditor collect on a credit card debt over 8 years old?
Probably; it depends on the laws where you live.
