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When I pay off my credit card debit will I need a letter from the collection agency stating my debit is paid?
YES you will I work a law firm that practice debt collections sometimes creditors sell the acct and the right hand dont know what the left hand is doing so you want to always provide proof also to update your credit report faster.
What else can I help you with?
What time limit is required for a collection agency to wait before reporting to your credit?
By federal mandate, the credit reporting agency must NOT report you to the credit bureaus until 30 days past the date of the letter sent to you.
How do you dispute items on your credit report?
1. Get a copy of your current credit report. (I have used www.freecreditreport.com which can provide all reports from all 3 credit agencies for around $40.) 2. Write up letters to each collection agency asking why each account was opened along with the account balance. 3. Get the letter certified, copied and send them to the collection agency. 4. (Read both of these steps) If the collection agency replies: you can "Ask For Forgiveness" from them and offer a different ammount than the full balance and barter, be sure that the letter of forgiveness stats that even though you did not pay the shown balance that they close the account and say it was paid in full. If after 30 days the collection agencies do not reply you can contact the collection reporting agencies in which the negative note was placed and provide them with the copied documents showing that 30 days has passed and the collection agency has not replied. The mark will be then be removed.
Is there some kind of agreement letter with a collector that would allow the removal of a collection if paid?
There is the kind of letter that you write insisting on this condition prior to paying a collection account. There is also the collection agencys' written agreement stating this. There is no standard form letter.
Does a debt collector have to send you a monthly bill?
A debt collector works for a collection agency. If the angency owns the debt then you can request statements. A collection agency will send you a paid or settled un full letter. They are not a billing agency.
Can a collection agency try to collect a debt after 7 years?
They can send you a letter, but they cannot sue you.
Can a debt be classified as a judgment if you made a payment and the collection agency contacted you and you showed proof of payment and are paying the remaining balance?
if collection agency is not from your lender, but third party, then you need to fax them proof of your payments to your lender or financial insitution and have them send you a letter stating that they will not report you to credit bureau. and also have them contact the collection agency you are making payments. asian623 http://www.myspace.com/scionturboracing
Is it legitimate if a collection agency sent you a letter stating that their client would settle for a certain amount if paid by a certain date and they want you to fax the letter to them?
Before making any commitments to a collection agency, you should get confirmatio from the original creditor that the collection agency has legal authority to collect at settle the debt.
How can I request a letter from a collection agency to remove negative information from my credit report?
To request a letter from a collection agency to remove negative information from your credit report, you can write a formal letter to the agency explaining your situation and requesting that they remove the negative information. Be sure to include any relevant documentation to support your case.
If the original creditor is not reporting a debt to your credit report but their collection agency is can the original creditor instruct the agency to have the item removed in return for full payment?
YES, THE CREDITOR WILL REQUEST FOR EITHER PARTIAL PAYMENT OR FULL PAYMENT. ASK FOR A LETTER STATING THAT THIS COLLECTION WAS PAID IN FULL AND THAT YOU HAVE A ZERO BALANCE. ALSO; REQUEST THAT THIS LETTER STATES THAT THIS ACCOUNT NEEDS TO BE DELETED IN ERROR, SO THAT YOU COULD SEND THIS LETTER TO THE BUREAUS AND HAVE THEM DELETE THIS ACCOUNT OFF YOUR CREDIT REPORT AND RAISE YOUR CREDIT RATING.
If you pay a collection agency does the collection come off of your credit report?
Yes you tell the collection agency you will pay ONLY if they can give you a letter that say they will delete the item from your report it's call pay for deletion
What time limit is required for a collection agency to wait before reporting to your credit?
By federal mandate, the credit reporting agency must NOT report you to the credit bureaus until 30 days past the date of the letter sent to you.
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).
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?
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.
Recently got a letter from collection agency about unpaid dental bill from year 2000 never got a statement from the dentist?
Contact dentist immediately and see if you can still settle with dentist. If not, see if the collection company will give you a letter removing the late from your credit if you pay now in full. They will show you paid it in full but what you need is a removal letter from your credit if it was reported on your credit. Move quickly for the collection will stay on your credit 7-10 years.
If you had ID theft and the items were deleted from one credit bureau's file can a collection agency still call you?
Unfortunately, yes. As the lender took a loss on the account, it was probably not coded right when they did the loss--and even it they did, code it right-- the collection agency bought a bunch of accts for a few cents per dollar. Those accounts were not search thru to see if they should have been sold or not. You need to call the collection agency, ask for their fax number and tell them you are faxing them proof that this is not your account. You then, want a letter from them stating that they are removing this off all 3 of your credit reports. This can be easy or extremely difficult.--Whatever paperwork, you have from the original lender, you need to keep in a secure place, as you may be needing this periodically. DO NOT THREW ANY OF THE PAPERWORK AWAY--FROM THE ORIGINAL LENDER OR THE COLLECTION AGENCY. The collection agency can turn around and sell the uncollectable accounts to another agency and you have now started all over again. Good Luck !!
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 steps should I take if I receive a letter from a collection agency regarding my outstanding debt?
If you receive a letter from a collection agency about your debt, the first step is to review the letter carefully and verify the debt is yours. Contact the collection agency to discuss payment options or negotiate a settlement. Make sure to keep records of all communication and payments made. It's important to address the debt promptly to avoid further consequences like damage to your credit score.
