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The new bankruptcy law requires that you list the original credit. However, I recommend reporting both. It doesn't cost you any extra money because the bankruptcy court mails out the notices and the harassing phone clals will stop sooner if you notify the collection agencies as well as the creditors.
What else can I help you with?
What is considered an active a collection account?
An active collection account is a debt that a company is attempting to collect. This continues until all avenues are exhausted.
How does a company report someone to the credit bureau?
The original creditor either sells the debt to a collection agency or the collection agency may aquire the debt on a contingency basis. At any rate once the account is in collections 30 days from the date of turn over the collection agency has the right to report the account to the credit bureau. Accounts are sent to the credit bureau via internet with encrypted files.
What does it mean when your credit report states that you have a paid closed collection account on you credit report?
The original account with a normal credit company went to a third party collection agency. Only after it went to the collection agency was the debt paid and then the account closed.
How long can a collection company try to collect on an account?
Until your state's statute of limitations runs out on that debt.
Can a collection company attach your bank account?
Yes, if they obtain a judgment on the past due claim and then file a Motion for Garnishment or Levy on your bank account. They however can not just take this action without the courts, and if they are claiming that they "will" attach your back account then they could be in violation of collections laws that aim to prevent making misleading or fraudulent claims to debtors. If you suspect they are trying to mislead you into thinking if you do not pay them that they will take the balance from your bank account, or that they have the ability to do such actions without explaining the legal process, I would direct you to contact an FDCPA attorney as you may be entitled to damages for their violation of State and Federal collections laws.
Can unpaid co-payments for Hospital bills hurt your credit report?
Yep! If the ambulance company turns your account over to a collection agency that agency might report the collection on your credit. Medical collections are the most common type of collection on a credit report.
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 is the meaning of ready for collections?
"Ready for collections" means that a company has attempted to collect a debt from a customer without success and has now passed the account to a collections agency for further action. At this point, the collections agency will try to recover the debt on behalf of the original company.
Can a gym send you to collections?
Any company, including a gym, can send a bill to collections if money is owed. If you pay the bill, the collection will be taken off your record.
Can a credit card company still send you monthly bills and charge you finance charges on your account if they sent it to a collection agency?
YES, it stops collecting intrest when it goes to collections. at that point they have transfered your debt. It then becomes someone elses problem. But they stop collection intrest.
What are some collections agencies?
Alternative Legal Services and Judgement Recovery, American Bonded collection, Armada Collection, and Audit Adjustement Company Inc. are some collection agencies.
What is considered an active a collection account?
An active collection account is a debt that a company is attempting to collect. This continues until all avenues are exhausted.
How does a company report someone to the credit bureau?
The original creditor either sells the debt to a collection agency or the collection agency may aquire the debt on a contingency basis. At any rate once the account is in collections 30 days from the date of turn over the collection agency has the right to report the account to the credit bureau. Accounts are sent to the credit bureau via internet with encrypted files.
Can private parking tickets be sent to collections?
Yes, private parking tickets can be sent to collections if they are not paid. This means that a collection agency may pursue payment on behalf of the parking company.
What companies provide debt collection software?
E-collections is a great leading company in the debt collection software industry. Pamar systems also provides a great debt collection software program.
Where do you pay collection accounts that are reported on your credit report when the company is out of business or no longer handles the account that was reported for collection?
You pay the collection agency.
Can I use my credit card after I pay off the collections agency?
No. Once it is sent to a collection agency the company has closed the credit card.
