What should you do if a collection item is on a report as unpaid for 3 years and the balance owed is incorrect?
First, call the creditor and ask them to correct it. Then, dispute the error with the 3 credit bureaus.
No! The only obligation of the collection agency regarding a debt is to accurately report the debt...i.e. balance outstanding, current status, and payment history. However, if you are paying or contemplating paying a collection agency, it would be wise to negotiate a positive outcome...i.e. the total removal of the account from your credit profile in exchange for payment. This should be negotiated prior to paying the collection agency and the agreement should be in writing.
Can a creditor and the collection agency who purchases your account from the creditor both report the same debt in separate instances to a CRA?
Yes, they can and it's customary for them to. The original account should have all the history, including late payments you made and the status (collection or charge off), the DLA, and date the account was opened. It should not be showing a balance due once sold or assigned to a collection agency. It may have a statement about being sold or transferred, but not always. The CA account should have the date they received…
Can you sue a collection agency who continues to report a debt as a debt in collection even though it was discharged in chapter 7 four years ago?
First, make sure you have documented proof that shows the account was discharged. If you haven't filed a dispute. You should then report them under the Fair Debt Collection Act for unfair reporting. If, after that, they still report and account and you can prove otherwise, you should look into an attorney who can file suit for you. Rest assured they'll have five lawyers for every one you find.
If several debts listed on a credit report are sold to a new collection agency and then paid in full can the debts from the old agency be disputed and removed from a credit report?
Yes and no. What the original credit agency should be reporting is that the debt was transferred to a new collector. Once you have proof that the debt was paid in full, you should be able to provide all creditors that are reporting negative info regarding that debt that this is the case and they should mark your records accordingly with a zero balance. It is really entirely up to them as to whether or…
== == Make sure that you get your most recent credit report. You can go to AnnualCreditReport.com, and pull a three bureau credit report for free. Once you have your report check to see what the Date of Last Activity is on that collection account. This will determine if you have a collection that is older then the statue of limitation.
Is it possible for a collection agency to remove the Sent to Collection Agency on your credit report?
Yes. There is no federal or state law which compels or requires credit reporting. It is totally voluntary. There are costs for creditors to place data on credit report and to update that data. While it is possible, and all consumers should certainly attempt to have collection accounts removed, you also need to be aware that it is unlikely.
If a collection account was sold to another collection agency is it correct that they should both show up on your credit report as late payments?
Are you still liable for a balance that appears on a credit card that was charged off even if you paid the collection agency?
How do credit entries appear on your credit report after a chapter 7 is discharged and do they disappear from the report or show as 0 balance and indicate their inclusion in a bankruptcy?
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…
Will your credit report only show a discharged bankruptcy or will it also show all the accounts included in the bankruptcy?
Your credit report will show both the accounts (which were listed first) and the legal entry of the bankruptcy in the public records portion of your credit report. Once a bankruptcy is discharged, credit grantors should update the account listing (called a trade line) and make sure that no derogatory information is showing (like past due balance or collection account notations) EXCEPT for the "included in bankruptcy" statement. This is what SHOULD happen. It's up…
Contact your probation officer. If you are off probation with an outstanding balance, simply call the office and ask. Likely as not, should the second scenario be, you will be contacted by a collection agency and they can give you the balance. However, if dealing with a collection agency, and you choose to pay them, keep meticulous records of your payments, and when you send your last payment, write this, "Paid In Full," on the…
Should you pay a collection acct that has had no activity for over 2 and one-half years or dispute it in hopes that the agency has purged it from their records?
There is no way to predict what will happen in your specific case. But, generally, collection accounts are not only active after 2.5 years, but get sold to other agencies and show in a duplicated manner on your credit report, often with double the deficiency balance showing. It is always in your best interests to pay what you owe, or settle the account.
When you settle a card debt for less than the full amount should the amount due and the balance as listed on your credit report be zero or can they list the account as past due with a balance?
The account can read 'settled-not paid in full'-'settled-paid' or similar. The account should not be listed as 'past due' but any unpaid amount can be picked up by a collection agency who may try and collect on the unpaid amount. Monitor your credit report [[yearly] for any changes in the account status. Don't be afraid of disputing any inaccurate information, after all this is your credit report. Keep all written confirmations of accounts paid in…
In most all colleges and universities today, the GPA is automatically calculated through computer services. Thus, it is not likely that it is incorrect. However, if you feel it is incorrect you should bring this to the attention of the Office of the Registrar at the school. They can make the necessary changes and correct the system if there is indeed a glitch in the system.
If you are trying to clear up your debt do you pay the collection agency or the original business you owe to and have them try to buy back your debt?
Your main consideration is that your credit report should be at its most favorable. Therefore, whomever you contact, make sure you get in writing that you will pay the debt and, in exchange, you expect the debt to be removed from your report, or at least that the debt should be converted to "good." Usually, once the collection agency is involved, the original company will not deal with you. This is because they now have…
"Should" is a misnomer in the context of this question. Some background information may clarify the issue. All defaulted debts are due and payable in full immediately. If you have made payment arrangements, those arrangements are at the discretion of the creditor/collection agency. They are under no obligation to accept anything less than the full amount owed. Creditors incur expenses to have data reported to the credit bureaus. It costs them to place a collection…
What should you do if you received a bill from a collection agency but you and your doctor had negotiated a different price but you don't have it in writing?
Write your doctor and try to get the terms in a letter (that would remediate the proof issue that you raised). If the doctor is honest and this is truly your agreement with him/her, that should get the collection agency to stop calling, unless they are calling you for a portion of the unpaid, agreed-upon balance.
If you had vehicle repossessed seven years ago and it has been turned over to a collection agency will the collection stay on your credit report until it is paid in full?
* The question is a little vague, however here's what I can say: IF, and it should have been, the repossession was first put on his credit report 7years ago then no. Any negative credit - excluding bankrupcy - by law must be taken off your credit report after 7years of its last active date (this is either when it was put on, or when you last paid it).
I have one colletion agency that has pulled my credit report. I really felt violated. He started telling me about all the stuff on there .. and that I should be able to pay. Either I pay it off in the next 6 months or I'll be sent to court. Is what he is doing legal? Thanks! Legally, no. Check out the below link http://www.creditinfocenter.com/wordpress/2008/08/06/can-collection-agencies-pull-your-credit-report/
Can a collection agency report you to the credit bureau if you are making monthly payments on your medical bill?
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.
How do you find out the original date that a debt was turned over to collections since often it is the sell date that shows on your report?
THE ORIGINAL DATE SHOULD APPEAR ON THE BOTTOM OF THIS TRADELINE (IN OTHERS WORDS DEBT) IN WHICH IT WAS TURNED OVER TO A COLLECTION AGENCIE. THE MOST IMPORTANT THING THAT YOU SHOULD BE WATCHING OUT FOR IS IF THIS DEBT HAS BEEN SOLD TO ANOTHER COLLECTION AGENCY, AND WHEN WAS IT SOLD! IF IT IS A COLLECTION ACCOUNT THAT IS REPORTING FOR THE YEAR OF "2006" THEN THIS DEBT NEEDS TO BE PAYED (ONLY IF…
Should you keep making payments on your payment plan if the collection agency keeps reporting you as delinquent?
The pronoun whom is incorrect. The relative pronoun 'whom' is an object pronoun used as the subject of the relative clause. The correct subject pronoun is who. "When Montague makes it to the city who will he find?" Example for the object pronoun 'whom': "When Montague makes it to the city to whom should he report?" The pronoun 'whom' is functioning as the object of the preposition 'to' (he should report to whom).