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If you or someone you know has dealt with a collectionagency, you know how trying it can be. Debt collectionagencies have a long history of harassment and illegal practices. Can a collectionagency report to a creditbureau without notifying you? The answer might not be that simple.
You may feel as if no one is on your side, but you do have some protection from collectionagencies. The FTC makes sure that the FDCPA (Fair Debt Consumer Protection Act) is followed by collectionagencies. There are approximately 7,000 collectionagencies in the U.S.
Have you ever been incessantly contacted by a debt collectionagency trying to get money from you? It can be difficult to understand just what exactly these agencies are legally allowed to do, and what crosses the line. The majority of debt collectors work for reputable collection companies. That’s why we’re here to help.
While it doesn’t usually affect your credit score , you may want to correct information with the creditbureau if an employer you’ve never worked for is listed. Phone Numbers: You’ll see phone numbers associated with your credit accounts. Credit Inquiries. Garnishments. Foreclosure. Civil judgments.
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. CreditCollection Services, known as CCS for short, is one of the largest debt collectionagencies in the United States, based in Massachusetts.
Here’s one example of how a zombie might rise with help from a collectionagency. The original lender or collectionagency fails to collect within the statute of limitations. The unpaid debt falls off your credit report after a certain amount of time. That can include wage garnishment or levies.
c) Falsely representing that they work for a creditbureau. h) They will seize, garnish, attach, or sell property or wages, unless the collectionagency or creditor intends to do so, and it is legal to do so. c) Falsely representing that they work for a creditbureau.
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