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What Happens if you Ignore a Debt Collection Agency

Nexa Collect

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.

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Impact of Debt Collector’s Call on the Debtor

Nexa Collect

Negative Impact on Credit Score : If the debt is not paid, the debt collector might report the delinquency to credit bureaus, which can have a negative impact on the debtor’s credit score. Loss of Privacy : Frequent calls from debt collectors can feel intrusive and may lead to a sense of loss of privacy.

Debtor 100
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You’re in Debt: 9 Terms to Know

The Kaplan Group

FDCPA ( Fair Debt Collection Practices Act). The Fair Debt Collection Practices Act (FDCPA) is a federal law that restricts the behavior of collection agencies when they are attempting to collect money from individuals. The law does not apply to collecting from businesses. Garnishment.