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Will a Collection agency or credit card company sue for debt 6 years later?
Wiki User
∙ 16y ago
hello yes they can as i have just found out mine was seven years if the find you you cannot get away from it sorry
Wiki User
∙ 16y ago
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What should you do if you had a cc judgment against you for 6000 and you paid 3000 and three years later a new credit agency has you in court wanting 8000 and says you only paid 200?
No credit agency will sue you. I believe you mean collection agency. Send the collection people a Cease and Desist letter (google "fair credit act cease desist). Then get a free credit report (your right!!)(the score doesn't matter so don't pay to get it). Then dispute the debt w/ the credit bureaus (the dispute letter will be found w/ the Cease and desist letter).
If you have already made an agreement with collection agency can you later renegotiate a lower payment amount due to income changes?
You can try, however if they agree then this will change the date on your credit report. Meaning: It will stay on your credit report even longer.
Can a Credit Card Collection Agency put a lien or judgment on your credit and if so what does that mean?
If the collection agency works in tandem with a law firm (which is the case most of the time) then the answer is yes. What does this mean? If a judgment is granted by a judge, then it is the age old saying, pay me now or pay me later. Anytime your credit is ran (over the next 20 years) then it will show and credit will not be granted until the judgment is satisfied. Keep in mind if a judgment is granted interest probably continues to accrue until satisfied. If at all possible, it is best to inter into a stipulation agreement with the firm and work it out.
After you pay the collection agency the negotiated credit card debt settlement amount can the creditor still chase you for the balance of the credit card debt later?
Yes, unfortunately a negotiated settlement does not legally satisfy a debt. I would recommend that you request a letter from the creditor stating that the debt has been satisfied and make sure to submit that to the 3 credit bureaus as proof of fulfillment of collection. that is right, i settled a debt and they still have the balance on my credit report. I called the collectors (citi bank) and they told me i can go and dispute it
How do you challenge your credit report?
HI: My credit report had an address for sending a challenge letter. I think it was in real small print on one of the pages. Later, I looked on the web site of the credit company and there was a way to do it online. I really did not expect a positive result since we seem to have so little control over these credit reports. What a surprise many weeks later when I got a letter saying that the negative entry had been removed. I would try writing a letter to the company and explaining the mistake. In my case, a collection agency was sending me bills for an old dental bill that was not mine. I found out that they are required to send you documentation supporting their claim. I asked for documentation and they never sent it. Later, the unpaid bill appeared on my credit report. By the way, the government requires the big 3 credit report companies to provide us with a free annual credit report: https://www.annualcreditreport.com/cra/index.jsp Beware of websites that offer a free report if you sign up for a free trial of their credit protection. They wait until the free trial expires before sending the report and you end up paying for a month of 'protection'. Hope this helps.
What should you do if you had a cc judgment against you for 6000 and you paid 3000 and three years later a new credit agency has you in court wanting 8000 and says you only paid 200?
No credit agency will sue you. I believe you mean collection agency. Send the collection people a Cease and Desist letter (google "fair credit act cease desist). Then get a free credit report (your right!!)(the score doesn't matter so don't pay to get it). Then dispute the debt w/ the credit bureaus (the dispute letter will be found w/ the Cease and desist letter).
If you have already made an agreement with collection agency can you later renegotiate a lower payment amount due to income changes?
You can try, however if they agree then this will change the date on your credit report. Meaning: It will stay on your credit report even longer.
Can you have a debt removed from a collection company if it is due to an error on the original creditor's part such as not updating your address correctly you never received a bill?
I am in the middle of a dispute at this time over the same question. I did not know that our insurance company had not paid a service provider 100% of the charge. Two years later I receive a notice from a collection agency. The collection agency stated the company mailed 11 statements and after the last statement was returned and another 7 months they turned it over to a collection agency. All they had to do was call the insurance company they had received payment from to verify our address or the referring physician. Now because of their handling, the appeal period for the insurance claim has passed and my credit is being adversely effected. If a bureau is supposed to be an accurate presentation of a consumer's payment history, this should not be included..not to mention the rudeness of the collection agency in their communication. I have contacted the Attorney General's office of our state...they keep referring me to a private attorney. My next step is a formal complaint to the FTC.
If you had a balance of 189 dollars on your Ford account that was paid to a collection agency when it was discovered 2 years later then Ford went and reported it as a repo to the credit bureaus is this legal?
Jose. DID they repo the car?? If not, I dont see how it could be correct. Was this vehicle a repo at the time and were you paying the remaining balance to the collection agency or was the account a charge off? I am assuming that you are refering to Ford Motor Creit which I used to collect for. In most cases a 3rd party collection agency will purchase the account at pennies on the dollar or the account will be placed with a fee once the account is collected. It is the collection agency responsiblity to update the creditor of payments and in some cases update credit reports. Also it is a good idea to get a confirmed paid in full letter and to send it to the original creditor to make sure they update your credit report correctly.
Can a Credit Card Collection Agency put a lien or judgment on your credit and if so what does that mean?
If the collection agency works in tandem with a law firm (which is the case most of the time) then the answer is yes. What does this mean? If a judgment is granted by a judge, then it is the age old saying, pay me now or pay me later. Anytime your credit is ran (over the next 20 years) then it will show and credit will not be granted until the judgment is satisfied. Keep in mind if a judgment is granted interest probably continues to accrue until satisfied. If at all possible, it is best to inter into a stipulation agreement with the firm and work it out.
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.
If you receive no bill and 14 years later you get a statement from a collections agency is that legal?
If the bill is unpaid, a collection agency can attempt to collect forever if they choose to. Nothing illegal about it.
After you pay the collection agency the negotiated credit card debt settlement amount can the creditor still chase you for the balance of the credit card debt later?
Yes, unfortunately a negotiated settlement does not legally satisfy a debt. I would recommend that you request a letter from the creditor stating that the debt has been satisfied and make sure to submit that to the 3 credit bureaus as proof of fulfillment of collection. that is right, i settled a debt and they still have the balance on my credit report. I called the collectors (citi bank) and they told me i can go and dispute it
What does getting a business credit card do for your company?
Having business credit card helps the company and its owners secure a line of credit. Busnesses can purchase materials for jobs now and pay for them later.
How do you fix your credit report if an original paid collection account is now listed with multiple other collection agencies a year later?
Your best bet is send a certified letter to the agencies who have your debt listed. Be polite and give them 30 days notice to remove the negative information. After 30 days have expired run another credit report to see if they removed the information. If the negative information is not removed you should file small claims judgment against the credit-reporting agency.
What are the differences between a cash and credit transaction for purchase and sales?
With Credit card you have to pay the credit company back later, cash is paid and over with if used.
Does telephone service get reported as a utility bill and does it roll off in seven years?
The credit bureaus do not care about utilities. I have never known a utility bill to appear on a credit report from the big three. It's the unsecured and larger debts (mortgage and car) they tend to be interested in. The theory is that the utility just shuts off your power. No problem. I moved out of my apartment in 1993 and unknowingly left a 123.00 phone bill. Last year, SBC took over Ameritech and they said they had new "collection procedures" and contacted me at my house. This is 12 years later. It was actually a collection agency that contacted me. When I checked my credit report a few months ago, it was listed as a collection and there was several collection "marks" listed for the last few months, so it does occasionally get placed on credit report. I paid it the 1st day they called my home by the way and it was still reported as a collection and that they were "unable to locate" me.
