2007-08-13 17:39:16 · 11 answers · asked by james b 1 in Politics & Government ➔ Law & Ethics
No, it merely mean the original creditor sold all of their right, title and interest in your debt to a collection company, or entered into an agreement where the collection company would receive a percentage of proceeds collected.
The collection agency then has the right to sue you in Civil Court, if you do not enter into a repayment agreement if they can prove you own the debt.
The matter will show up as a negative mark on your credit report.
2007-08-13 17:44:09 · answer #1 · answered by bottleblondemama 7 · 2⤊ 0⤋
No - it's actually worse.
I recently got a new credit card, but in the process of applying, an old bogus bill, that was never mine to begin with came up - and it knocked my credit score down like 10 points.
The bill was from 2001 - BUT - by applying for and getting the new credit card, the collection agency sold the "debt" to another collection agency which makes it a "new" debt. So it goes on and on.
So now I have to go through the whole routine of disputing the charges all over again. (It was a telephone bill that a VERY ex girlfriend got in my name without my permission - blah blah blah).
Collection agencies and the slime that work for them are quite possibly the lowest forms of life on earth. Right next to polititions and priests.
Courts CAN attach your wages, but it has to be a pretty serious bill before they will do that - say a thousand bucks or more - because it costs them more to do that than the bill is worth.
2007-08-13 17:54:17 · answer #2 · answered by Anonymous · 0⤊ 1⤋
No...unless the lawyer for the agency files a suit. Then, you get served with a complaint which you should answer. If you answer, you will go to civil court to plead your case. If you fail to answer the complaint, the agency will get a Judgment by default. That means they can then attach your wages, property or bank accounts. All this, of course, if you don't pay the bill. If you lose, you will have to pay court cost on top of the amount of the bill. But, this is California Law...could be different in other states.
2007-08-13 17:49:30 · answer #3 · answered by ArRo 6 · 1⤊ 0⤋
Not neccessarily when a colection agency is called in usually it costs less for the issuer rather than going through the court system which could take some time using an agency is usuallly quicker however the actions of some agencies can be dubious
2007-08-13 17:45:42 · answer #4 · answered by cormucus 3 · 2⤊ 0⤋
I'm not sure what CW L said. The answer is ..no. Collection agencies only have one thing in mind. Their percentage of what they can collect. If you are subpoenaed to civil court..it means someone has sued you. You might have to go.
2007-08-13 17:51:01 · answer #5 · answered by chilicooker_mkb 5 · 1⤊ 1⤋
No..most likely it will float around the collection agencies of the world for many years...very, very rarely are they taken to court.
2007-08-13 17:48:09 · answer #6 · answered by Anonymous · 1⤊ 1⤋
NO...but, you can bargain to pay 30 to 40 % less with a collection agency. Who for the most bought your debts for pennies on the dollar.
2007-08-13 17:49:48 · answer #7 · answered by Anonymous · 1⤊ 1⤋
Nope its just a company aquiring your debt from another agency and trying to collect it from you. If a debt does not show up on your credit report I wouldn't worry about it.
2007-08-14 00:33:49 · answer #8 · answered by oldmansid 3 · 0⤊ 0⤋
I worked for a mastercard corporation for 6 years suing shopper's who did not pay their costs. what's courtroom like? nicely, interior the courts my corporation used (Virginia) the choose in straight forward terms had to understand in case you owed the debt or not. in case you probably did - my corporation grew to become into usually granted a judgment. in case you disputed the debt, then it went to trial. if your attempting to keep away from a judgment all jointly you may attempt contacting the corporation and putting arrangements to pay it off. according to risk you may borrow funds from a chum or relatives member and settle the debt in one lump sum. in case you may not. then that's as much as the corporation climate they'll push aside the case in courtroom. maximum in all probability not - they have already spent the money to bypass throughout the time of the courts. in case you may not pay the debt and prefer to keep away from a judgment - you may petition the courtroom for a continuance of your courtroom date. The courtroom does not could honor it yet, maximum do. bear in mind, which will in straight forward terms strengthen the date. it won't push aside the case. The corporation (and probable not the choose) do not care if your working now. you will paintings sooner or later. interior the recommend time, pastime will accrue and the steadiness will strengthen leaps and limits. while they discover out the place your working, they are going to garnish you wages (if the judgment is granted) or worse - they might levy your checking and fee savings debts. Your suitable guess is to not forget on the subject of the debt. call the corporation and notice if there is something you're able to do. As an fairly final piece of advice, you do have the alternative of submitting for financial ruin. as quickly as you have a case sort the corporation will could push aside the case. good success!
2016-10-15 06:31:56 · answer #9 · answered by ? 4 · 0⤊ 0⤋
no, but the collection agency will call you forever!
2007-08-13 17:49:15 · answer #10 · answered by Kmmv 5 · 1⤊ 0⤋