How long can a collection agency go on your account

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Shameka

How long after a debt has been made can they chase you for it in south africa

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Arnulfo

"This means that a creditor has a limited amount of time..."

I am assuming two things before I respond one that you have a debt that is quite old and two that you live in Canada (The US has a completely different set of debt collection rules that I am not really up to date on). Also I must make it clear that I am not a lawyer and am therefore not offering you any legal advice just my understanding of collection agency rules as they currently exist in the Northwest Territories so with that out of the way I have good news and bad news for you on this: . First the good news, there is a statute of limitations on the collection of debt of either 2 or 6 years depending on the province or Territory that you live in. This means that a creditor has a limited amount of time to initiate legal action and can only report a delinquent account for a period of 6 years from the date of write off based upon when the debt occurred, your last payment to the creditor or your last written acknowledgement of the debt (which ever came last). Now the bad news, there is absolutely nothing (that I am aware of) to stop a collection agency calling you up 10, 15 or 20 years after a debt is written off and asking you to pay so long as they do not threaten to sue you or report you to the credit bureau. This is done mainly by agencies that buy a companies portfolio of aged debt (Canadian Tire is a prime example of this). As far as I know they pay only pennies on the dollar for the debt, so just about anything they collect is profit, also because they own it they are generally very aggressive about trying to collect it. There are things that you can do to make them stop but I`m afraid that I can only really give you any advice if you are living here in the Northwest Territories. If you can give me a little more detail on your situation I may be able to help you a little more. Jim Wilson Manager, Aurora Collection Services Ltd 205-4817 49 St Yellowknife NT X1A 3S7 867-766-3084 866-456-2304 (TOLL FREE). How long can a collection agency go on your account. There are so many factors to consider. Would you be kind enough as to give me some pointers as what to look for or avoid. Would you consider giving me a couple pointers.

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Steve

the best solution, is just to change and de-list your phone number..

Curtis

"How long can a collection agency go on your account..."

Stephanie Miller Office Administrator,� Collection Service Agency 3700 Brainerd Road, Suite B Chattanooga, TN 37411 Ph:�423-892-0054 �Ext 133. com � "The road to success is always under construction. How long can a collection agency go on your account. There are so many factors to consider. Would you be kind enough as to give me some pointers as what to look for or avoid. Would you consider giving me a couple pointers.

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Brady

Can a collections company continue to try to collect on a student loan after over 10 years and living in a different province?

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Q. How long before visa send my account to a collection agency?
how many months missed before cibc visa sends my account to a collection agency? if i miss one payment one month, but pay that amount and the current amount (minimum amounts owing) will they send it?

"Months before they get sold to a collection agency..."

Every card will be different...accounts usually have to be 4-6 months before they get sold to a collection agency . If it's less then two months then it may go to their in-house collection department, but it's not going to go to a collection agency that soon.

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Q. How long can you talk down a collection agency on a 6 years old out of statute collections account?
it's a credit card, the original account was charged off years ago. balance is supposedly $3500+ but i doubt they paid anywhere near that amount for it. how low can i talk down the creditors if i decide to negotiate this?

"The collection agency paid very little for that..."

Paying off derogatory items won't improve your score. The damage is done and will remain for the balance of the 7 year reporting period. If you defaulted on this credit card 6 years ago, you may want to just wait out the reporting period. The Statute of Limitations (SOL), the timeframe to bring lawsuit, varies from state to state. Check yours: http://www.bcsalliance.com/y_debt_sol.html. Typically the SOL starts from the date of last activity or last payment. Making a payment can restart the SOL. If the debt is beyond the SOL and so close to aging off your credit report, you should be able to settle for less than 10%, probably closer to 5%. The collection agency paid very little for that zombie debt -- likely pennies on the $100. But again, there's really no advantage for you to pay them anything. If you do opt to settle, make sure you get the settlement agreement in writing and do not give them direct access to your bank account.

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Q. Is it better to pay a long overdue account with the original creditor or with the collection agency that calls?
i have a credit card that went way past due after i lost my job. i'm slowly getting back on my feet and have received a collection letter from some collection agency asking for payment of that account. i'm not sure which is better for repairing my credit -- calling the original creditor or just paying this thru the credit agency?

"Many credit cards will not accept your payment..."

Many credit cards will not accept your payment if it has been turned over to a collection agency. As for repairing your credit, the damage has been done already. You have 30 days from the date the letter was sent from the collection agency before it goes on your credit report. If it hasn't been 30 days, send the payment directly to them so it is credited faster.

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Q. How long does a collection agency have to report a paid in full account?
do they have to report this right away or do they get a certain amount of time to report it as being paid?

"It depends on the agency..."

it depends on the agency. some report monthly, while other report quarterly

Q. My brother owes a very large debt, how long will a collection agency pursue him?
my brother owes nearly 15k and has not made a payment in over a year. he's considering bankruptcy and right now the account is in collection. how long will the collection agency pursue the debt? he thinks that since the debt was written off by the creditor that he's release but i am trying to convince him to file bankruptcy since he can't pay the debt because the collection agency will probably stay on him for years. what do you think?

"And each state has a statute of limitations for how long he has a..."

They will pretty much pursue him until he dies...unless he learns his rights. The debt can only be reported to the credit bureaus for 7 years from the date of first delinquency (see the Fair Credit Reporting Act) and each state has a statute of limitations for how long he has a legal obligation to repay the debt. Check the link below for more info. http://www.creditinfocenter.com/rebuild/statuteLimitations.shtml If he can out last the SOL without getting sued, he can send a cease and desist letter and put a stop to them contacting him.

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Q. After a debt is paid off with a collection agency, typically how long does the account remain a red flag?

"It will be on the report for eight years..."

It will be on the report for eight years, but "red flag" doesn't really describe the situation because recent history is much more important than old history in making decisions. After two years, most places won't care much if everything is clean since then.

Q. How long can a debt collection agency chase you to collect a debt on a closed credit card account?

"Is time barred and that if they continue to harass you..."

Forever if they want, but they can not seek legal action if the debt is "time barred" or otherwise known as being beyond your states statute of limitations. You can find your states SOL on debt at this web site http://www.bcsalliance.com/statute_of_limitations_on_debt.html If the debt is time barred then simply send them a cease and desist letter via certified mail/return receipt. It need not be anything fancy, simply a letter stating the debt is time barred and that if they continue to harass you , you will seek civil action under the FDCPA. Hope this helps answer your question.

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Q. How long can collection agency chase after you?
how long can collection agency try to get money after you? if there a time frame they will stop calling ? and if you dont pay at all, are they going to give up the account eventually? thanks!

"After the statute of limitations runs out they can still sue..."

Legally they can come after you until you die. Weather they can collect is another thing. After the statute of limitations runs out they can still sue you but it will be thrown out in court when you show that the S.O.L. has expired. It will stay on your credit for 7-years from the date of first delinquency and then it will drop off. So, if you can wait out the S.O.L. and the 7-years for your credit to clean up there is nothing they can do except call and ask you to pay them. O.B.T.W. after it drops from your credit, no body is going to come back and say you have to pay it if you want to buy a home because it will not show on your credit so they will not know about it. I swear some people that answer these question work for collection companies.

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Q. How long does a collection agency have to respond to a request for more information?
i have been contacted by a collection agency regarding a debt that i believe is beyond the sol. in a show of good faith, and hoping they will stop any further action, i have requested verification of the account, payment history, etc. how long do they have to respond? i don't want to be sitting on pins and needles forever.

"By knowingly attempting to collect or take action on a known time barred debt..."

Under section Sec. 1692g. Validation of debts, there is no set time limit for the creditor to respond to your request. Being as the debt is beyond your states SOL, they will in now doubt forget about it and ignore your request. Most collections agencies purchase "time barred" debts for as little as a penny or less per dollar owed. So they will not want to spend money or time trying to collect this. If they are showing on your credit report, send copies of your letter to all three CRA's via certified mail/return receipt. The CRA's will then have 30 days to validate the debt. If the creditor can not validate the debt. the CRA's as required by the FCRA will remove the item from your report and send you notice of such action, along with a current credit report. This collection agency violated the FDCPA (Sec. 1692e. False or misleading representations) by knowingly attempting to collect or take action on a known time barred debt. You could include this fact when you send dispute notice to the CRA's I would give them 30 days to respond, if they do not respond with all the information as required by the FDCPA, then go ahead and dispute it with the CRA's Hope this answer is of help to you LEGAL DISCLAIMER: The answer provided here is intended for informational purposes only. It is not intended nor presumed to be legal counsel or professional legal advice

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How long can a collection agency go on your account

Industry Experts

"This means that a creditor has a limited amount of time..."

"How long can a collection agency go on your account..."

Q. How long before visa send my account to a collection agency? how many months missed before cibc visa sends my account to a collection agency? if i miss one payment one month, but pay that amount and the current amount (minimum amounts owing) will they send it?

"Months before they get sold to a collection agency..."

"The collection agency paid very little for that..."

"Many credit cards will not accept your payment..."

Q. How long does a collection agency have to report a paid in full account? do they have to report this right away or do they get a certain amount of time to report it as being paid?

"It depends on the agency..."

"And each state has a statute of limitations for how long he has a..."

Q. After a debt is paid off with a collection agency, typically how long does the account remain a red flag?

"It will be on the report for eight years..."

Q. How long can a debt collection agency chase you to collect a debt on a closed credit card account?

"Is time barred and that if they continue to harass you..."

Q. How long can collection agency chase after you? how long can collection agency try to get money after you? if there a time frame they will stop calling ? and if you dont pay at all, are they going to give up the account eventually? thanks!

"After the statute of limitations runs out they can still sue..."

"By knowingly attempting to collect or take action on a known time barred debt..."

Q. How long before visa send my account to a collection agency?
how many months missed before cibc visa sends my account to a collection agency? if i miss one payment one month, but pay that amount and the current amount (minimum amounts owing) will they send it?

Q. How long does a collection agency have to report a paid in full account?
do they have to report this right away or do they get a certain amount of time to report it as being paid?

Q. How long can collection agency chase after you?
how long can collection agency try to get money after you? if there a time frame they will stop calling ? and if you dont pay at all, are they going to give up the account eventually? thanks!