By federal mandate, the credit reporting agency must NOT report you to the credit bureaus until 30 days past the date of the letter sent to you.
Generally a Creditor will wait 180 days from the date of the last payment before passing the account to a Collection Agency
There is no law that restriction how long a creditor or business must hold a bad debt before forwarding it to a debt collections agency.
Yes, many have a $1000 minimum. Best to try and settle the account or negotiate a payment plan before it goes that far.
No creditor or agent may report a debt on a credit report that is fraudulent or in error. It is your responsibility to establish your identity for verification ro remove it. It is the creditors responsibility to prove the debt is factual and is your responsibility to pay. Failing this, you can request the removal of any erroneous reporting, but it must be done in writing. Write to the creditor, the reporting agency, and the credit reporting agency. Copy all letters to all parties, and mail them registerd, return receipt. Keep all records together and be prepared to produce them before a judge. It might take a court order to get the bad information removed.
Assuming the debtor does not voluntarily release the information for collection to the collector due civil process is required before such action can occur. The general steps are: The collector/creditor will file a civil suit against the debtor, win the suit (which is almost certain to happen); be awarded a judgment then execute the judgment as a levy against the judgment debtor's bank account.
Yes, a collection agency can report a debt to credit agencies before the charge is verified. However, it is generally recommended for collection agencies to first verify the debt before reporting it to credit agencies in order to ensure accuracy and compliance with regulations such as the Fair Credit Reporting Act.
Yes, the original creditor should have notified you that you had an outstanding balance. The creditor also notifies you that they will be submitting your debt to a "third party" collection agency. This is usually the final notice before your debt is sold. If you never received a notice, it is not required that the original creditor send you notice, all it is is common curiosity that they do.
It is possible for the collection agency to put a lien on your bank account. Before they can do this, they must go through the proper procedures first.
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.
Yes, it is generally legal for a medical practice in Florida to add a fee to a patient balance before sending it to a collection agency, as long as this practice is clearly outlined in the patient's agreement or consent forms. However, it is important for the practice to comply with state and federal laws regarding debt collection practices and patient billing.
Generally a Creditor will wait 180 days from the date of the last payment before passing the account to a Collection Agency
No
no ,they also cant call before 9 am or after 9 pm
Have the collection agency send a written agreement accepting the settlement or payment amount agreed upon BEFORE rendering any payment(s).
== == Collection agencies do not have the legal right to pull your credit report unless you gave them permission.
There is no law that restriction how long a creditor or business must hold a bad debt before forwarding it to a debt collections agency.
So, what is the question here?