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How long can a debt be collected after the event by a debt collection agency in the UK?
Until it has been paid. Even if you are declared bankrupt, it is still possible for certain creditors to be able to persue the debt.
The only way to get out of debt is to pay what you owe. If you are really struggling to pay, the best thing to do is talk to your creditors and make an offer of payment. Even if this is not the amount the creditor requires, they would prefer something rather than nothing, although this is up to the individual creditor.
Additional:
Not true I'm afraid. Any research done on Google or elsewhere will refute that. Your response is a cynical attempt to confuse the public into believing they can still be held liable after 6 years has passed - much like how the debt collection agencies operate not to mention harassment and threats of legal actions.
More Additional:
Although this may not apply to the UK, the information should be considered. There are negative legal ramifications to paying a very old debt. You may also end up repaying a debt because delinquent accounts get resold to many collection agencies.
Extra Additional;
Again ignore the above post. I don't know which people are being allowed to freely come on here and give out bogus advice. The top and bottom line is, so called debt collection agencies operate in a very grey area of the law and practise underhand and borderline legal methods to 'harass' people into repaying old debts that they themselves have taken a gamble on carte blanche. Shame on them.
What else can I help you with?
Is it illegal for a collection agency to buy your debt and come after you?
No, it is not illegal for a collection agency to buy your debt and attempt to collect it from you.
Is Australia Debt Collection a good collection agency in Sydney?
Australia Debt Collection a good collection agency in Sydney since it offers many services to people.
Once a debt is given to a collection agency can you get the creditor to take it out of the creditor's hands?
Once a debt has been sold to a collection agency, that agency owns the debt. Now it would be between you and the collection agency to settle the debt; the creditor has washed his hands of the matter. If you think the debt collection agency isn't working within its legal limits and is harrassing you, check out the Fair Debt Collection Act, which outlines was a collection agency can and cannot do.
If you are trying to clear up your debt do you pay the collection agency or the original business you owe to and have them try to buy back your debt?
Your main consideration is that your credit report should be at its most favorable. Therefore, whomever you contact, make sure you get in writing that you will pay the debt and, in exchange, you expect the debt to be removed from your report, or at least that the debt should be converted to "good." Usually, once the collection agency is involved, the original company will not deal with you. This is because they now have a contract with the collection agency, who will get a portion of the collected debt. Capish?
Can you provide me with a debt collection verification letter?
A debt collection verification letter is a document that requests proof of a debt from a collection agency. It should include your name, address, and the debt amount you are questioning. You can find templates online or request one from the collection agency.
How are work commercial collection agency?
The commercial collection agency is used in debt collection in the event a debtor fails to.
Can a debt be passed from one debt collection agency to another?
Yes - absolutely a debt can be passed from one debt collection agency to another.
What is does it mean for an original creditor to recall their collection?
Recall of a debt by a creditor is when the original creditor asks for the debt to be returned to them after they have sold it, often to a collection agency. This may occur if the debt has not been collected for a certain amount of time, and the debt will be sold to another agency to collect, or if the debtor offers the original creditor a settlement.
Is it illegal for a collection agency to buy your debt and come after you?
No, it is not illegal for a collection agency to buy your debt and attempt to collect it from you.
Can the deficiency that you owe on a repossessed car be collected from a collection agency that is violating the Fair Debt Collection Practices Act?
ONLY if you let them do it. Call a local attorney now.
Is Australia Debt Collection a good collection agency in Sydney?
Australia Debt Collection a good collection agency in Sydney since it offers many services to people.
Once a debt is given to a collection agency can you get the creditor to take it out of the creditor's hands?
Once a debt has been sold to a collection agency, that agency owns the debt. Now it would be between you and the collection agency to settle the debt; the creditor has washed his hands of the matter. If you think the debt collection agency isn't working within its legal limits and is harrassing you, check out the Fair Debt Collection Act, which outlines was a collection agency can and cannot do.
What is collection agency?
A Commercial Collection Agency is and agency that collects debt on behalf of their clients, same as a consumer collection agency, but a commercial collection agency collects business to business.
If you are trying to clear up your debt do you pay the collection agency or the original business you owe to and have them try to buy back your debt?
Your main consideration is that your credit report should be at its most favorable. Therefore, whomever you contact, make sure you get in writing that you will pay the debt and, in exchange, you expect the debt to be removed from your report, or at least that the debt should be converted to "good." Usually, once the collection agency is involved, the original company will not deal with you. This is because they now have a contract with the collection agency, who will get a portion of the collected debt. Capish?
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 you provide me with a debt collection verification letter?
A debt collection verification letter is a document that requests proof of a debt from a collection agency. It should include your name, address, and the debt amount you are questioning. You can find templates online or request one from the collection agency.
What is commercial collection agency?
A Commercial Collection Agency is and agency that collects debt on behalf of their clients, same as a consumer collection agency, but a commercial collection agency collects business to business.
