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You have a valid debt that was purchased by another collection agency however the original date that the debt was opened was 2003 The new collection agency has it listed as 2005 is this legal?
Wiki User
∙ 18y ago
The date that is of the most importance is the DLA, which is used if it pertains to the state SOL. The opening account date can be disputed and possibly amended, but it will not affect the validity of the debt or prohibit the collection process.
Wiki User
∙ 18y ago
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Can collection agencies charge interest?
Yes, unfortunately they can charge interest and other fees if they have purchased the debt from your original creditor. However, it is always a good possibility to negotiate collections for a fraction of what you owe (including extra fees).
Can a collection agency charge collection costs?
No they can't it's against the law. However the original creditor is allowed to add collection fees as long as the underlying contract allows for it. For example medical intake forms often allow for interest and collection fees.
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
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.
Can a debt collector in the state of Michigan collect on a debt if they have already charged it off?
Yes, the term is used to indicate a debt being written off as uncollectible by the original creditor. The debt however remains valid and subject to collection by a collection agency working for the original creditor or a third party that buys the account.
Can you be sued by a collection agency for fees if you settled the debt with the original creditor?
Yes. If a debt is defaulted on, there are several penalties that can be assesed by the collector. They can sue andmaybe received a judgment. Collecting on any judgment, however, is a different matter. Proof of payment to the original creditor would provide an affirmative defense to a lawsuit from a collection agency.
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