article thumbnail

What Happens if you Ignore a Debt Collection Agency

Nexa Collect

This can lead to wage garnishment, bank levies, or liens against your property. Wage Garnishment and Asset Seizure : If a judgment is entered against you, the creditor may be able to garnish your wages, levy your bank accounts, or place liens on your property, depending on the laws in your jurisdiction.

article thumbnail

How to Remove TransWorld Systems From Your Credit Report

Better Credit Blog

Transworld Systems, Inc (TSI) is a well-known debt collection agency in the United States that works with individuals, large companies, and organizations to assist them in debt recovery and past due accounts. Other complaints claim TSI threatened wage garnishment or property seizure, both of which they could not do.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

A Comprehensive Overview of How Commercial Debt Collection Agencies Work

Debt RR

In extenuating circumstances, the commercial debt collection agency might work with the creditor to file a lawsuit against the debtor. This could lead to bank account garnishment. Can Commercial Debt Collectors Pursue Debtors at Home? Is It Legal for Commercial Debt Collectors to Garnish Bank Accounts?

article thumbnail

Hot to Remove Credit Collection Services From Your Credit Report

Better Credit Blog

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. CCS must provide documentation proving the validity of their claim at your request (Debt Verification). in your timezone, not theirs.

article thumbnail

What to do When You’re Served Papers for a Debt

Debt RR

Ignoring a process server can cause the court to garnish wages , place a lien against any property, and freeze any accounts. Jail time for debt wasn’t always an option, but it’s become more widespread in the U.S. Debt attorneys can evaluate the information to determine legal defenses against the debt’s validity.