Collection Agencies Garnishment Loans Original Creditor 
Nexa Collect
JUNE 21, 2023
If you ignore a debt collection agency, several potential consequences could affect your financial well-being and peace of mind: Persistent Contact : Debt collection agencies might persist in attempting to contact you through phone calls, letters, and possibly emails. This can be stressful and disruptive.
Debt Free Colorado
FEBRUARY 21, 2022
When collecting a debt from you, collection agencies must adhere to federal and state rules. Fortunately, the federal Fair Debt Collection Practices Act (FDCPA) protects all states. The Fair Debt Collection Practices Act (FDCPA) applies to collection firms and debt collectors attempting to recover consumer debts.
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Better Credit Blog
APRIL 1, 2022
A good credit score allows you to get better rates on car or mortgage loans just to name a few. If you fall into hard times, the inability to pay off your credit card bills or student loans can result in your debts being transferred to a debt collection agency. Table of Contents: Know Your Rights with Transworld.
Better Credit Blog
APRIL 3, 2022
Portfolio Recovery Associates, LLC, is a collection agency that buys old debts from lenders and companies that have been unable to collect the debt themselves. In other words, when the original creditor has been unsuccessful in collecting on a debt, it will write off the debt as a loss.
Credit Corp
JUNE 14, 2023
Charge-Offs: Seven Years Accounts you didn’t pay, like a charged-off credit card or installment loan balance, can stay on your credit report for seven years from the date the debt was charged off. A charge-off is when the creditor officially writes your debt off its books as a loss. This allows borrowers to comparison-shop lenders.
Credit Corp
AUGUST 31, 2021
This means that even a debt that is older than that may still be able to be collected on if you’ve made a payment sometime in the last four to six years. In some states, a collection agency cannot try to collect at all once a debt is past the statute of limitations. Can a Collection Agency Report an Old Debt as New?
Collection Industry News
DECEMBER 1, 2022
The hiatus that some states and companies put on debt collection activities at the height of the pandemic has largely ended, and debt collectors have resumed business as usual. If you’re wondering whether debt collectors collect from family members, the answer is typically no, unless the family member is a cosigner on the loan.
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