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What do you do if an account was turned over to a collection agency but the original creditor accepted your payment in full?
Contact the original creditor. Provide proof of your payment. They need to retract the account from the collection agency. The account could have been sold to the collection agency or simply assigned to them. For your purposes, it does not matter which situation applies. You paid the original creditor and your credit report needs to reflect this. After they do what they need to do to get the account back; you then dispute the entries with all three credit bureaus. The original account should show as a paid collection and the other collection account should be removed from your credit report entirely.
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.
What is the process for requesting a letter of validation of debt?
To request a letter of validation of debt, you need to send a written request to the creditor within 30 days of receiving a debt collection notice. The letter should ask for proof that the debt is valid and provide your contact information. The creditor must then provide documentation verifying the debt.
How can you remove a medical collection that is no longer listed with the collection agency but has been returned to the original creditor?
I assume this means removing it from the CR. In which case you can't. It may eventually be updated to show the original creditor has reassumed the account. However, it is still a debt owed and still reportable. If a collection account has "been returned" to the original creditor, then the collection agency would not be able to provide verfification of the debt should this be requested. You could write a letter of dispute to both the credit bureaus and to the collection agency requesting a verification of debt. If this were provided despite the fact that the account is no longer theirs to verify, that would constitute a violation of law. This is often the first step many consumers take in gathering evidence of willful non-compliance for lawsuits against collection agencies. So, even though it may happen, it would put the CA in a precarious situation.
Can you provide me with a debt validation and verification letter?
A debt validation letter is a written request asking a creditor to provide proof that a debt is valid and belongs to you. A debt verification letter is a written request asking a creditor to confirm the details of a debt, such as the amount owed and the creditor's information.
What do you do if an account was turned over to a collection agency but the original creditor accepted your payment in full?
Contact the original creditor. Provide proof of your payment. They need to retract the account from the collection agency. The account could have been sold to the collection agency or simply assigned to them. For your purposes, it does not matter which situation applies. You paid the original creditor and your credit report needs to reflect this. After they do what they need to do to get the account back; you then dispute the entries with all three credit bureaus. The original account should show as a paid collection and the other collection account should be removed from your credit report entirely.
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.
If Company A sends your acct to a collection agency but you decide to pay off Company A do you still owe the collection agency money?
Nope. Advise the collection agencey that this was settled with the original creditor. You may have to provide them with a copy of a canceled check or money order. You can also have the creditor call the agency. Some will, some won't.
What is the process for requesting a letter of validation of debt?
To request a letter of validation of debt, you need to send a written request to the creditor within 30 days of receiving a debt collection notice. The letter should ask for proof that the debt is valid and provide your contact information. The creditor must then provide documentation verifying the debt.
How can you remove a medical collection that is no longer listed with the collection agency but has been returned to the original creditor?
I assume this means removing it from the CR. In which case you can't. It may eventually be updated to show the original creditor has reassumed the account. However, it is still a debt owed and still reportable. If a collection account has "been returned" to the original creditor, then the collection agency would not be able to provide verfification of the debt should this be requested. You could write a letter of dispute to both the credit bureaus and to the collection agency requesting a verification of debt. If this were provided despite the fact that the account is no longer theirs to verify, that would constitute a violation of law. This is often the first step many consumers take in gathering evidence of willful non-compliance for lawsuits against collection agencies. So, even though it may happen, it would put the CA in a precarious situation.
I did a volunteered Repo on a car and a collection agency is trying to collect difference of 5200?
And it is your responsibility to pay this. You should however contact the original loan holder and request in writing a complete statement of all charges and balances owed, with reconcilliation of all amounts paid or applied toward the original balance. Do it in writing, otherwise there is no obligation by the original creditor to provide this information. contactthe collection agency atthe same time, also in writing, and inform them that you are negotiating with their client, and that they should cease and desist all collection efforts. Remember, do it all in writing. Send the letters registered, return receipt so you have proof of service, and keep copies of everything.
Can you provide me with a debt validation and verification letter?
A debt validation letter is a written request asking a creditor to provide proof that a debt is valid and belongs to you. A debt verification letter is a written request asking a creditor to confirm the details of a debt, such as the amount owed and the creditor's information.
What is the importance of flow chart?
To provide a cohesive collection of information at a glance.
What are the benefits of using personal collection agencies for managing outstanding debts?
Using personal collection agencies for managing outstanding debts can provide benefits such as increased chances of debt recovery, reduced workload for the creditor, and professional handling of debt collection processes.
Can you provide me with a request for debt validation letter?
Here is a concise request for debt validation letter: Your Name Your Address City, State, Zip Code Date Debt Collection Agency Name Debt Collection Agency Address City, State, Zip Code Subject: Request for Debt Validation Dear Sir/Madam, I am writing to request validation of the debt you claim I owe. Please provide me with detailed information regarding the debt, including the original creditor, the amount owed, and any relevant documentation. I also request that you cease all collection activities until the debt is validated as per the Fair Debt Collection Practices Act. Thank you for your prompt attention to this matter. Sincerely, Your Name
Can a debt after 6 years of no notices from a company bought from another still be collected?
One answerYour original debt was with the original creditor. Research the Fair Debt Collections Act. It will protect you against these creditors and 3rd party collectors or if not call me and I will provide you information on a weekly conference call where you can find out your rights and ask questions from professionals. More inputYour description is not complete. A few things that matter are:1. Was 1st company your original creditor?2. Which state do you live in?FDCPA (Fair Debt Collection Practices Act) would help you, but before that you need to check your state statute. Please check for your state's statute, as there is a limited time line till when creditors or collection companies can sue you to get the pay checks garnished.If the 2nd company has intimated you recently, most probably they are 2-3 months away from the dead line. This is the general practice of collection companies.Please search for your state statute and then, you can take a call on the same.
Can a third party debt collector collect on a debt over 9 yrs old if 1 small payment was made?
Your original debt was with the original creditor. Research the Fair Debt Collections Act. It will protect you against these creditors or if not call me and I will provide you information on a weekly conference call where you can find out your rights and ask questions.
