Credit Corp

NOVEMBER 9, 2020

If you or someone you know has dealt with a collection agency, you know how trying it can be. Debt collection agencies have a long history of harassment and illegal practices. Can a collection agency report to a credit bureau without notifying you? Attempts to Collect a Debt Not Owed.

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Collection Agencies Collections Agency Credit Bureau Collections 105

Credit Corp

JUNE 14, 2020

Here’s one example of how a zombie might rise with help from a collection agency. You default on a debt. The original lender or collection agency fails to collect within the statute of limitations. The unpaid debt falls off your credit report after a certain amount of time.

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Better Credit Blog

APRIL 1, 2022

Especially in the current pandemic, COVID 19, medical bills, credit card bills, and other financial service bills may start to pile up. If you’re unable to pay your original creditor, your debt may pass to a debt recovery agency, earning a collection letter and possibly a stain on your credit report.

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Credit Corp

SEPTEMBER 12, 2023

When a lender doesn’t receive payments for a line of credit, like a credit card or personal loan, they may choose to eventually sell that credit to a debt collection agency to get some of their money back. So if you have a debt in collections, your credit score has likely taken a dip.

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Better Credit Blog

APRIL 5, 2022

Request a Goodwill Deletion – If You Have Paid The Debt. The first step, if you have paid the full collection account, settlement, or have been making regular on-time payments, is to mail the collection agency a “ goodwill letter ” that explains your situation. Ask the Collection Agency to Validate the Debt.

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Credit Corp

MARCH 20, 2023

When you submit a dispute , the credit reporting agency must investigate the items in question–usually within 30 days of receiving your communication. Once the investigation is complete, the credit bureau has 5 days to make any appropriate changes to your file and notify you of those results.

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Collection Industry News

SEPTEMBER 8, 2020

THE Fair Debt Collection Practices Act (FDCPA) is a federal law that was enacted in 1978 by the United States Congress to protect consumers from abusive debt collectors. Note, however, that the FDCPA applies only to third party collectors who collect debt for original creditors. Fremont Ave.,

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