I wanted to know how the collection agency collect money from debtor and what can they do to you to collect the money. (how far they can go to collect that money from you).
Thank you!
2007-08-27 08:05:58 · 7 answers · asked by hideaki413 1 in Business & Finance ➔ Credit
They can call and harass you and if you still do not pay, they can take you to court and get a judgment.
At that point they can attach bank accounts, garnish your wages (if your State allows it) and file liens on any property you may own like cars, boats, land and homes.
All on top of ruining your credit.
2007-08-27 08:25:44 · answer #1 · answered by ? 7 · 2⤊ 0⤋
The fair debt collection practices act lays out what they can and can't do. It will require some research on your part - but here's a link!
2007-08-27 15:14:36 · answer #2 · answered by kelannde 6 · 2⤊ 1⤋
They can send you nasty letters, and telephone them until you tell them to quit doing so, and eventually file a lawsuit. If they win the suit, they can get liens or attachments against your assets.
2007-08-27 15:12:33 · answer #3 · answered by Anonymous · 1⤊ 0⤋
call you daily as long as it's only between the hours of 9am and 9pm. send you letters. garnish your wages. take you to court. report it on your credit report.
2007-08-27 15:11:54 · answer #4 · answered by macy 3 · 2⤊ 0⤋
Send in the baliffs or serve you with a Court Order.
2007-08-27 15:13:20 · answer #5 · answered by Sal*UK 7 · 1⤊ 2⤋
They can sue you within the statue of limitations. What state do you live in?
2007-08-27 15:21:27 · answer #6 · answered by Crazy cat lady >^ ^< 4 · 2⤊ 1⤋
They can garnishee your wages. But if you pay them as little as $5.00 a month they have to accept it and they should quit bothering you as long as they know they are going to get their money. If they start calling you again tell them you are paying and to leave you alone!
2007-08-27 15:17:05 · answer #7 · answered by jamsterette@sbcglobal.net 4 · 1⤊ 4⤋