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Notify the collection agency in writing that the debt is invalid and the reason why. Keep a copy for yourself, and if possible send a copy to the original creditor.
To save yourself some time and keep the best records, send any correspondence certified, return receipt, so the collection agency and the creditor cannot come back later and say, "We did not receive your letter." In the event that collections continues, and results in legal action, you can take your mail receipt with you to court, and likely as not the judge will dismiss the case and the creditor's ability to continue to pursue collections.
What else can I help you with?
What is the use of a collection agency debt settlement?
A collection agency debt settlement means when someone is in debt and a company offers a settlement amount to the creditors owed. Payment arrangements are discussed and made, sometimes the amount is way less than the actual bill.
How can collection agencies put entries on your credit report if you never 'owed' them or got credit from them in the first place?
Collection agency buy or get assigned accounts from different kinds of creditors who you may owe without realizing it. Examples of these kinds of debts include bad checks, debts owed from medical services, defaulted leases and others. None of these debts are typical of the kind you undertake willingly (like a credit card account). But they still can be legitimately owed by you. You would need to track down the source of the collection account, find out whether or not the collection agency has your identifying information. If not, then you would need to investigate to determine the nature of information being reported against you. It might be that you are the victim of identity theft.
How do you find out who the original creditor is after your account has been sold to a collection agency and 30 days have passed since they first contacted you?
Either you can ask what collection agency the company you originally owed deals with or you will have to obtain your own credit report. * If the debtor did not respond to the 30 day clarification notice, the collection agency has no legal obligation to inform the debtor of the creditor, amount owed, etc. unless litigation is initiated. The debtor's credit report may or may not indicate which account has been sent to collections, as credit bureaus are very lax in keeping timely data on consumer's.
How do you report someone to collections?
You must find a collection agency you wish to do business with and arrange to either sell them the debt for a fraction of what is owed or pay them to collect on your behalf. This is a very complicated process and is generally only done if you have many accounts to put through their agency.
Can a collection agency combine two different accounts that were with the same company and try to collect the total using one of the account numbers?
No. They would have to take separate action on each account owed.
What does it mean when a bill goes from collection to an attorney?
An owed bill goes to a collection agency so they can collect on it. When they can't collect the amount owed (which by the time it goes to the agency, they may take a low offer on the amount) they go to an attorney so the attorney can sue the person owing the bill in court. By suing the ower, they get a judgment that goes on the ower's record and they can put a lien on property and maybe garnish pay or bank accounts depending upon the amount owed. This is not a good thing.
What is the use of a collection agency debt settlement?
A collection agency debt settlement means when someone is in debt and a company offers a settlement amount to the creditors owed. Payment arrangements are discussed and made, sometimes the amount is way less than the actual bill.
What is a second party collection agency?
A second party collection agency is an agency trying to collect a debt that is owed to someone else. If for example, you owe on a store credit card from ABC store, they may turn the debt over to another agency that has nothing to do with them. This is a second party collection agency.
How do you stop collection agency calls with a letter?
Put a money order with the amount owed in the envelope.
If a company has a past due account under a certain amount will they still send it to a collection agency?
It all depends on the amount owed and the company owed to.
Is it legal for a creditor to send an account to a collection agency after one and a half years without ever notifying the customer that they think a bill is owed?
Yes, the original creditor is not bound by the FDCPA. The collection agency must however inform the debtor that they have thirty days to request confirmation of the debt or to dispute same.
If you are willing to make payments on a debt can a collection agency refuse the payments and continue to harass you?
A collection agency is not hired to get the amount paid in payments they are paid to get the amount in full. At this point the place you originally owed the money to and did not pay may or may not be willing to take payments being that they have now hired the collection agency to get the money from you. YOu can call the original creditor and tell them you are willing to pay and if they say no then you must pay the collection agency, I have never heard of any of them taking payments. When they get hired they try to collect as much as possible of the owed amount so they can get a higher commission. They dont want payments they want money in full....
How does a collection agency determine how much money they will settle a debt for?
a collection agency will usually take up to 30% off a debt but only if it is over $500 i once owed $5,300 on a returned vehicle and they were willing to take $3,100 but you can hustle your amount owed. all they want is some of the money anyway. There is no specific set amount. You must negotiate with the collection agency. They will settle for whatever they can get in many circumstances.
How do I report someone to a collection agency?
To report someone to a collection agency, you typically need to provide the agency with the individual's contact information and details of the debt owed. The agency will then attempt to collect the debt on your behalf. It's important to follow the agency's procedures and provide any necessary documentation to support your claim.
Can a collection agency for a non-credit card-type bill hurt your credit rating?
Yes Once a collection account is reported to your credit history, its origin no longer matters. If money is owed and it gets listed with a credit reporting agency as a collection account, it affects the main factor in your credit score: Payment history. See www.myfico.com/CreditEducation/WhatsInYourScore.aspx for details of a FICO score.
How can you find out who you originally owed if a debt collection company is now collecting?
After being contacted by a collection agency you have thirty days to request confirmation of the debt. Their response should include the balance owed and the place where the debt was originally incurred.
How do you find out who you owe if the collection agencies keep selling the account?
When a consumer receives a notice from a collection agency requesting payment of a debt, the consumer should always present to the agency a written request for confirmation of the debt owed.
