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When a collection agency buys a debt from a credit card company does a new statute of limitations start from the day it was purchased or does the collection agency's statute remain the same?
Wiki User
∙ 15y ago
The statute of limitations starts counting immediately when you made the last payment to either the credit card company or the collection agency. If you ever make a payment to either of them the statute of limitations will start over. If you have not made any payments to the credit card company recently and the credit card company sells the debt to the collection agency, the collection agency's statute of limitations will be from the date that you last paid the credit card company. Furthermore, if the statute of limitations is over and the collection agency continues to keep collecting the debt, you can send them a letter (certified is the preferred method) to stop all contact with you. Under the Fair Credit Reporting Act (FCRA), they would be required to stop immediately upon receipt of the letter (unless they are taking legal action in a court then they can send you legal notices only). If they do not stop, you are entitled to collect monetary damages as outlined in the FRCA. This does not stop the collection agency from reporting to your credit report. Your credit reporting falls under a different set of rules which basically removes most collections debts (except for court judgements) after 7-10 years.
Wiki User
∙ 15y ago
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If a collection is sold to a new company does the 7 years start over?
No. Just because a debt is purchased by another company, the terms of the transaction can not be changed. However, the statue of limitations only starts when there is no activity on the account for a long period of time. EZLIMIT
How long can a collection company try to collect on an account?
Until your state's statute of limitations runs out on that debt.
Where can you find clothes of the Usain Bolt collection?
The Usain Bolt collection can be purchased from the company which designed the collection which in this case is Puma. Alternatively you may use websites tailored to specific ranges of products like solecollector.
What did Waterford Colleen achieve?
Waterford Colleen is not a person but actually a collection of crystal and dinnerware from the Waterford company. It can be purchased on the Waterford official website.
Can a collection agency in America collect monies outside the jurisdiction for small amounts -such as the annual maintenance fees on a timeshare?
a collection agency can collect where ever they need to. they purchased the debt from the timeshare company (to use your example). what i don't know is if they can impact your credit if for instance you were in the US and the collection agency or timeshare company is out of the country.
Can a credit card company sue you after 11 years have passed?
It depends on the statute of limitations in the state where the credit card company is seeking legal action. In some states, the statute of limitations for debt collection is typically around 3-6 years, but it can vary. After the statute of limitations has expired, the creditor is generally barred from suing for repayment of the debt.
An airline company is purchased by an electric company This purchase would be considered a merger?
If the electric company purchased the airline company than it is an acquisition by the electric company.
How long can after a charged off debt can a credit card debt be collected by another company that has purchased the debt?
Depends on which USA state where you live - Check Debt with Statute of Limitations; and http://www.bcsalliance.com/y_debt_sol.html
What is the statute of limitations on having to pay a hospital bill in Arizona?
In Idaho, there are no statue of limitations on having to pay hospital bills directly from a hospital. However, there is a 7 year statute of limitations in Idaho for hospital bills bought by a factoring or collection company.
If you owe a company money and it is placed in collections can you pay the original company or do u have to pay the collection agencies?
You have to pay the collection agency. The original company has a signed contract with the collection agency and they pay the collection agency a % of what they collect from you. That's how they make their $$. The original company did not want to have the outstanding balance on their books.
What type of applicants are sought after in today's employment agencies?
Most Employment agencys are going nuts right now. They are deluged with Workers who are over qualified for the positions the Agencys offer and they have no experience in the fields. But they put in Applications and take up valueable time from the Agency. So The Agencys are happy to see workers who meet their needs. If you are a landscaper, you should not apply to be CEO of A company. Nor should Top Management of A Company apply to be a Landscaper. This is straight from the mouth of a friend who runs her own agency. She concentrates on General Labor and Skilled Labor tasks. And she said 7/10 Applicants have a degree and can not be used.
What is the statute of limitations on music piracy if the music collection is kept?
There are actually two statutes of limitations for music piracy. One is the civil statute of limitations, which is how long you can be sued by the music company, which is 3 years. The other is the criminal statute of limitations, which is how long you can face criminal prosecution for the crime of music piracy (copyright infringement), which is 5 years. These two statutes of limitation are found in 17 USC §507. Note that the fact that you kept the music collection is irrelevant. Courts have ruled that piracy is not a "continuing tort;" what this means is that the statute of limitations starts at the time you commit the theft. Therefore, you can be sued for 3 years or prosecuted for 5 years after you have stolen music, even if you HAD deleted the music.
