0
You need to have a look at the relevant legislation in your state to ascertain where you stand. I would suggest that you contact a financial counsellor who would be familiar with laws in your state to discuss your options. In Victoria, Australia, debts are statute barred after 7 years - UNLESS one makes a payment on demand thereafter, in which case one is again legally liable for the debt that was incurred.
Wiki User
∙ 18y ago
Wiki User
∙ 16y agoUnless you file for bankruptcy, a debt is a debt. The agency will do everything in its power to find you and collect on the debt. There are limits to what they are premitted to do, but as long as they are willing to spend cash to find you, they'll keep going.
As far as I know, in federal law, a debt is legally collectible until 7 years have passed. Once that time has passed, attempts to collect must be with your agreement. If it is a collection agency, they must cease and desist at your request if the debt is more than 7 years old.
Wiki User
∙ 13y agoDepends on your states statute of limitations. If your state has a 7 year statute than no it can not. But they will try. If statute is not up yet but close to being up then you can ignore their phone calls and mail and let it expire. If you respond it will re-age the debt. However, collection agencies will sell your debt to another collection agency when the statute of limitations on the debt is about to expire. When they do this, the time clock starts all over again and there is a new 7 year time limit.
As a side note, you can always dispute this debt on your credit report. The original creditor must verify the debt and has 30 days to do so. If it has passed from collection agency to collection agency, then chances are slim that they will be able to verify the debt. This will likely come off your credit report easily. The original creditor has already written off the debt as a tax write-off. Just keep in mind that if it is sold to another agency, then it can go back on your credit report for another 7 years.
Wiki User
∙ 12y agoit depends on the state you live in, in North Carolina it is three years, they can still sue but all you have to say is that the stat. of limitations has expired and most of the time the case will be dismissed, you can find your state by searching for credit satute of limitations on your search engine
Wiki User
∙ 14y agoThey can try. That is what they do. Collection agencies do have to work under legal guidelines that are supposed to prevent them from harassing you. Check on the net to find out what they can and can not do in their efforts to collect. If they are violating any of these "rules", you can report them and get them to stop. Odds are you will just continue to get letters telling you to pay up. The bottom line however, is that made an agreement to pay for something. Why didn't you?
Add your answer:
Earn +20 pts
In Arkansas can a collection agency sue you if the original creditor accepts payment on the debt?
If the debt was sold to a collection agency and the original creditor accepted payment AFTER the debt was sold, the money does not belong to them. If, however, you paid the debt and it was mistakingly sol after that payment, the collection agency can't try to collect. If you have proof of payment, forward it to the collection agency and deman in writing that they cease trying to collect this debt.
Can a collection agency collect interest on your debt?
Yes, Collection agency can do that. But contact a good collection agency like Guardian Credit Services, they know will how to deal with customers to get money
If the collection agency didn't collect anything from you do you still owe the collection agency anything in the state of Wisconsin?
Of course. If it's an unpaid debt, the collection agency owning the debt may try to collect it. And beware, they can track you down no matter what. However, they have to abide by certain rules, which are defined in the Fair Debt Collection Act.
How can a business collect debt?
A business can collect debt by getting a collection agency to collect the debt. A business could also take it up in court or by putting a lien on the debtor's property.
If a man dies you owe money to can the collection agency still collect?
When that person died, his assets became part of his estate. The debt you owed him became one of those assets. The legal representative of his estate has an obligation to collect the debt from you and has the full legal power to do so, either directly or through a collection agency.
If you already paid a debt can a collection agency legally continue to try to collect the debt?
Not as long as you can prove you paid it.
Does the creditor or the collection agency get the money you pay on a debt?
When a collection agency takes on a bad debt, in many cases they are "puchasing" the debt from the original creditor. When you then pay off the collection agency, your money will stay with that collection agency. This is the most common scenario, but some companies do have their own internal collection agencies (Capital One, for example, has their own collection subsidiary in Idaho - the Westmoreland Agency). Hope this helps!
What is OSI collection services inc?
OSI Collection Service is a "Third Party" Collection agency. Collection agencies buy your information from the original creditor in order to collect on a debt. What this means is that they make money if you pay anything on this debt, not only from the original creditor, but a commission on the payment that you make on that debt.
Can a collection agency prosecute someone on supplemental security income?
A collection agency can collect from someone on social security or disability. If you incurred a debt, you can be prosecuted.
What purpose does the International Debt Collection serve?
The International Debt Collection Agency is a debt collection agency designed to collect debts from debtors that have not paid for goods supplied or services rendered. Debt collection agencies are designed for debt recovery, and speak on behalf of the company to which the debt is owed to work out a settlement between the debtor and the creditor.
What is a second party collection agency?
A second party collection agency is an agency trying to collect a debt that is owed to someone else. If for example, you owe on a store credit card from ABC store, they may turn the debt over to another agency that has nothing to do with them. This is a second party collection agency.
Can a collection agency attempt to collect a debt that was settled by another collection agency as 'not valid' a year prior?
They can attempt to collect. If the debt can be proved to be invalid the information should be forwarded to the agency via certified mail. Whether or not the debt is invalid under the terms of the orignal agreement depends on the how it would be viewed in court (if it comes to that).
