How long, until they sue?
2007-06-02 18:11:12 · 5 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
They WILL get their money...One way or another. Don't wait to find out. You should really call and talk with them ASAP to avoid serious problems.
2007-06-02 18:16:04 · answer #1 · answered by ~Anne~ 3 · 0⤊ 2⤋
It depends on how much the debt is. If its something small like $300, or $200 , then no they will not waste their time to sue you but you will get their annoying calls! They may sue because its over $500, but again they may not. I got these calls long time ago, I wrote a letter to them to stop harassing me never heard from them again. But if they do keep calling you call them back and at least talk with them..and work something out..just don't ignore it...
2014-05-19 12:17:02 · answer #2 · answered by TeaRose 2 · 1⤊ 0⤋
A collection agency is not going to sue you over $600! It would cost them many times that amount to hire a lawyer to do that. They will try to scare and intimidate you in any way possible, but nothing will happen.
If you have the money to pay the debt, and you want to pay it off, contact them and tell them you will only pay them if they remove it from your credit report. They may or may not agree. If they DO agree, make sure to get the agreement in writing before sending any money.
If you want the collection agency to go away, just write them a letter and tell them to stop all contact with you per the Fair Debt Collection Practices Act. Make sure to send it certified, return receipt requested. They HAVE to comply! If they don't you can sue them. What will happen then, is the debt will go back to the original creditor. The original creditor may then assign a new collection agency to collect the debt. You probably won't hear from the new collection agency for months or years later.
If the debt is many years old, you may be better off not paying anything at all. Check your state's statute of limitations - if it is over that time period, you're home free... they can't take you to court after that!
2007-06-05 16:08:49 · answer #3 · answered by ? 4 · 2⤊ 0⤋
I say the chances are slim to none. I know people who owed a lot more to a collection agency for years and never got sued. They can't garnish your wages until they win a suit.
2007-06-02 18:37:20 · answer #4 · answered by ? 5 · 2⤊ 0⤋
They will come after you until they get it.
I would suggest you try and make arrangements.
Please take this advice serious!....I had a 12 year old debt that I honestly forgot about and they ended up garnishing my wages at 25% each paycheck!
Unfortuately, I ended up filing chapter 13 because I had no other options.
BUT.....You Do!
Do something about it before it comes back to haunt you.
2007-06-02 18:18:47 · answer #5 · answered by Rozz 2 · 0⤊ 3⤋