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What legal actions can you take if a company that sent your account to a collection agency even though you paid in full and closed it 8 months ago?
None if it is indeed your account. However, your credit report should indicate that the account is paid and closed.
What else can I help you with?
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.
Can a collection agency charge interest on an account they bought and do you have to pay them since you never entered into a contract with them?
Sorry but yes they can. In the original contract there was a clause about what actions could be taken if you defaulted on the agreement and one of those actions is that the account could be turned over to a collection agency. So, even though you didn't directly enter into a contract with the collection agency you agreed to abide by the contract and the collection agency now legally owns the contract. It works the same way as when you purchase a house. At some point the original lender on a house may sell the contract and you will be paying a different lender.
Can a collection agency issue a warrant for a payday loan check that went back?
If a Payday Loan company hires a collection agency to collect on your account they can send your account to an attorney to collect the amount of the loan and any NSF fees that you have accumulated. However, it is stated at the bottom of your contract that if you close your checking account that the loan is made from, that you can be charged with fraud.
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.
If your account is sold to a collection agency how to do you find out when it was sold and how old the account is?
When the collection agency contacts you, they have to give you the opportunity to request information concerning the debt. You will have thirty days to send a written request to dispute the debt. And to ask for confirmation of the original creditor, the amount owed, when the account was remanded to the agency, etc.
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.
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 collection agencies take you to the court?
Absolutely they can ! The only reason a person needs to deal with a collection agency, is because they defaulted on payments to the original company. That company passed the account to a debt-recovery agency, who paid the sum YOU owe to the original company. If you simply refuse to pay the collection agency, they have the legal right to take you to court to recover the debt !
Can a collection agency continue to report a collection account to the credit bureau after the account is sold to another collection agency?
No, once a collection agency relinquishes their claim to the account by selling it they must remove all negative trade lines related to that account from your credit reports. Hope this helps ST
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.
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.
If a company is no longer operating what will happen if you dispute a charge off that is with a collection agency?
Whether the company is opertaing or not, does not make any difference. Proof of your account is still there.
Can my account be sold to another collection agency?
Yes.
Can a collection agency charge interest on an account they bought and do you have to pay them since you never entered into a contract with them?
Sorry but yes they can. In the original contract there was a clause about what actions could be taken if you defaulted on the agreement and one of those actions is that the account could be turned over to a collection agency. So, even though you didn't directly enter into a contract with the collection agency you agreed to abide by the contract and the collection agency now legally owns the contract. It works the same way as when you purchase a house. At some point the original lender on a house may sell the contract and you will be paying a different lender.
You had a credit card account which they charged off and sold to a collection agency ca Now you have that charge off which carries a balance and a CA collecting on the same debt What could you do?
It is unlikely that the account was "sold" to a collection agency. Rather, the agency was contracted to recover the debt. The "charge off" of the account only affects the original creditor, and represents a loss reported against the company's taxes. If the collection agency has attempted to recover the debt and has been unable to, the original creditor will likely pull back the account and refer it to another agency in hopes of greater success.
Can the collection agency freeze your bank acct in Fla?
No. A collection agency can not freeze your bank account. Only a judge could do that.
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.
