2007-03-21 15:04:44 · 2 answers · asked by wendy h 1 in Business & Finance ➔ Credit
They can have you sent to Iraq. Just kidding. It actually depends on how serious the delinquency and the size of the debt. Most of them bark louder than they bite such as threatening lawsuits. While it's not impossible to sue you for an old account it's also not likely. If you haven't paid off the debt it isn't a good bet they would collect even if they prevailed in court, so it's pointless. They could however garnish your wages if they were to get a judgment against you, but that is very tricky as well, but again, not impossible. Chances are they would simply give up on you and sell the account to another agency for less than they paid for it. But that account will remain on your credit report as a collections activity, and that's not good.
2007-03-21 15:42:38 · answer #1 · answered by douglas l 5 · 0⤊ 0⤋
It may be easier to see what the collection agencies cannot legally do, that way if they try to, you can call their bluff and know the fines the companies can face. Listed below is the link that lists the things they cannot do.
2007-03-21 15:49:03 · answer #2 · answered by Mariposa 7 · 0⤊ 0⤋