If a collection agency is calling but nothing appears on your credit report from the agency about a debt...What can/should you do?!?
2007-03-29 19:12:43 · 10 answers · asked by Lily's mom 1 in Business & Finance ➔ Credit
Legally a collection agency must send you something in writing within 5 days after calling you. (though they rarely do)
They probably haven't gotten around to placing it on your reports yet.
You might consider sending them a debt validation letter. If it has been 30 days or less since they called, they will not be able to place it on your reports, or continue to collect, until they "properly" validate.
(if you have trouble finding an address for them, look them up on the BBB website)
Include a "limited" cease and desist in your letter that tells them not to call you at your home or place of business as it is inconvenient to you. That all future correspondence from them must be done by USPS.
You might click on my profile and do some reading in the links I have listed - to the FDCPA, FCRA, etc.
2007-03-30 00:06:39 · answer #1 · answered by echo 7 · 2⤊ 0⤋
Talk to the credit collection agency and find out about the loan. If the loan is legitimate, pay it, or negotiate a settlement. Collection agencies work with debt that isn't always reported to a credit bureau unless/until the collection company determines that it's uncollectable. Examples are medical debt and utility debt.
2007-04-05 03:18:06 · answer #2 · answered by Still reading 6 · 0⤊ 0⤋
All collection agencies are not the same as it relates to your credit report. If it is a legitimate debt - pay it. If the amount owed is substantial they can sue and get a court judgment and that will reflect on your credit report for the next ten years. Plus - once they get the judgment they can garnish your wages, take your property, pretty much whatever they want.
2007-04-06 00:20:30 · answer #3 · answered by pilot 5 · 0⤊ 0⤋
If you know that in some way this debt is valid, take it serious and find out who the original creditor is and make sure you see them on your credit report. If it is a scam tell them to F*** off. There is no law about how you treat a collection (scam) agency.
2007-03-29 20:13:50 · answer #4 · answered by This is Fun 2 · 0⤊ 1⤋
It may be that they just haven't put it on your credit report yet. If they are calling all the time, file a harassment complaint with the state you live in. Go to your states website, and look for the consumer protection bureau. They can get them to stop calling you, put things in writing when they've refused to before, and even stop asking for extra fee's -so you only have to pay the amount you actually owe.
2007-04-06 00:44:53 · answer #5 · answered by Adam B 2 · 0⤊ 0⤋
Well at the very least talk to them once and see whats what. It could be taken care of then. You won't see it on your bills. You will get a separate letter from the company stating that they are sending your account to collections.
2007-04-06 03:56:04 · answer #6 · answered by Pepper 6 · 0⤊ 0⤋
I would not do anything, or find out who the original debtor is and pay them. Many scams include someone saying they bought debt from someone you owed money to, they take your money, but the debt still isn't paid. I would not answer anymore of their calls.
2007-04-05 09:44:36 · answer #7 · answered by curiousgirl112 2 · 0⤊ 0⤋
Well, see what they want before they put it on your credit bureau. Just if possible record your calls and actually they must send notification in writing before they can call.
You can talk to your local attorney generals office for any other rights you may have depending on your state.
2007-04-05 15:14:34 · answer #8 · answered by Miss Know It All 6 · 0⤊ 0⤋
Make then prove the debt to you by sending you a demand in the mail.
2007-04-06 01:54:41 · answer #9 · answered by annazzz1966 6 · 0⤊ 0⤋
tell them to stop callling you or just say "contact my lawyer" and they will back off maybe.
2007-04-05 06:02:04 · answer #10 · answered by swtluvingcntrygirl 3 · 0⤊ 0⤋