Debt Collection Process - Your resource for Debt Collection Process, Letter of Demand, Collection Agencies, Debt Collection Techniques, Debt Collection Rights, Debt Collectors, Debt Recovery, Debt Payment, Bankruptcy, Bankruptcy Law

Debt Collection Process

A collection agency is a business that pursues payments on debts owed by individuals or businesses. Most collection agencies operate as agents of creditors and collect debts for a fee or percentage of the total amount owed. Some agencies, sometimes referred to as "debt buyers", purchase debts from creditors for a fraction of the value of the debt and pursue the debtor for the full balance. Creditors typically send debts to a collection agency in order to remove them from their accounts receivable records; the difference between the amount collected and the full value of the debt is then written off as a loss.

In many countries, collection agencies are governed by laws that prohibit certain abusive practices. Failure to adhere to such laws may result in lawsuits or government regulatory actions.

Debt Collection Process

 

Debt Collection Process Knowledge Base

How does the debt collection process work on an unsecured loan?

I am 105K in debt(mortgage, student loan, car and the unsecured loan) and lost my former job due to lack of work. I got a new job but I am out 15K/yr....

What is the collection process of bad debt and next time how to recognise these kinds of people?

One of our co - worker cried about his family problems like mother's ill health, son's education etc etc and asked a good amunt of money as help on re...

debt collections process…best way to proceed.?

last year, i became ill which lasted for a little over a year. being a freelancer, this meant i was not able to work and draw an income as well as bei...

In Iowa, how long does a law office have to serve process papers for a debt collection case?

About two months ago I received a letter from Litow & Pech, P.C. saying that I owed money for a past debt for a cell phone bill and they wanted 65...

Im ready to payoff credit card debt, do i pay the company i owe or the collection agency that calls me?

In the past three years i had a couple credit cards that i defaulted on, they proceeded to the collections process, but know i am ready to pay them of...

Can a collection agency charge more for a debt than what you owe?

I am in the process of settling my debt. A collection agency which bought my account is charging more than double what I owed. Is this legal? How m...

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Letter of Demand

 

Letter Of Demand Knowledge Base

What happens after the demand letter has been sent regarding an auto accident claim?

Does anyone know the time frame that these things take? All I know is my lawyer sent State Farm a demand letter on April 9, about the accident that to...

What if someone refuses your demand letter?

I wrote a demand letter to a business requesting my refund back for a broken contract. I had a contract with the business to use their facility for an...

How much will a demand letter cost me?

I'm considering the "threat/demand letter" route with my ex-employer who as gone silent on my final commission check. I resigned on basical...

What should be included in a demand letter for injury?

I was rear-ended over 1.5 years ago and I am now going to send a demand letter. I have had treatment for soft-tissue injuries and am still in some pai...

What to expect after a demand letter is sent?

My former coworkers and I are currently in the process of suing our former employer and the local manager of a HUGE insurance company. My attorneys se...

In NJ, can you send a demand letter for a monetary judgment already awarded by the court?

I was awarded a $1200 + $22 court cost judgment by default about 2 months ago. The man has refused to repay me by amicable means. Could I start my j...

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Collection Agencies

 

Collection Agencies Knowledge Base

Collection agencies?

how do the collection agencies know when you open a new bank account? Each time I open a new one they seem to find out?How do they get this informatio...

collection agencies?

I have some medical bills from this year that I paid off. now out of no where their saying I owe 300 dollars, so I fax them the proof that I paid and ...

Collection Agencies?

What are some good, effective collection agencies (cheap) and what are their costs? Assuming that the debts needing collected would be $20-$200, usual...

How soon do collection agencies send accounts to credit bureau?

Once an account is sold to the collection agency, how soon does it get put on your credit report and is it possible to prevent it from happening with ...

How do you find contact info for collection agencies on credit report?

I have a couple of old (small) collections on my credit report that I'd like to clear up, but it just shows the name of the collection agency and a pa...

Contact information for collection agencies is invalid on my credit report. How do I resolve the disputes?

I got a copy of my credit report and sent letters to the various collection agencies asking for them to verify my debt. Three of the letters came bac...

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Debt Collection Techniques

 

Debt Collection Techniques Knowledge Base

My car was scheduled to be repossessed. The repo man called me, IDed himself as State Police, and told me to ?

surrender my car or I would be arrested the next day. I was able to make my payment soon after that and keep my car but I'm still disturbed that the r...

Is this unfair collections techniques...? I wasn't notified of my debt until 4 years later...?

In the spring of 2003, I got (of all things) a jaywalking ticket for $90, and I thought I paid it! Shortly after that I moved (but had my mail forwar...

Question techniques?

How can I improve my question techniques,as I have been working in the debt collections area for a large financial corporation for 6 months,But I have...

Has anyone used the "pay to delete" technique with a collection agency and had it work? Tell us about it.

I want to pay off my 20 dollar debt but wonder if this "pay to delete" technique works. Even if I pay the debt the negative report will rem...

My car was scheduled to be repossessed. The repo man called me, IDed himself as State Police, and told me to ?

surrender my car or I would be arrested the next day. I was able to make my payment soon after that and keep my car but I'm still disturbed that the r...

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Debt Collection Rights

 

Debt Collection Rights Knowledge Base

Rights over debt collection agencies?

If a debt agency takes over my debt from another company - do I have the right to say I have no debt with them as I haven't spoken to them and definat...

What are the legal rights regarding debt collection in Ohio?

I know the SOL is 15 years in Ohio. My fiance took out a car loan 12 years ago for $1000.00. He paid off about $200.00 then quit paying on it (he wa...

What are your rights if a debt collection agency calls on your property? Tough one, or clear cut?

Jim and Edna have a good credit history and rating, but if their son, Burtwood, who stills lives with them, has got himself into debt and, unable to p...

What are my legal rights when a debt collection comes after me on an account I don't owe?

I went to a dentist but never got the treatment after getting the high quote. 4 years later there's a debt collector calling me for thousands of dolla...

Can a debt collection company collect money without a court order?

I have a dispute with a company. The company asks a debt collection company to enforce me to pay the money on dispute. Does the debt collection comp...

Is it legal for a debt collection agency to open my credit report without my consent?

While trying to settle a debt with a collection agency, I was transferred to a supervisor and he started giving me details about my credit history. I ...

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Debt Collectors

 

Debt Collectors Knowledge Base

debt collectors?

what do you debt collectors feel and say after hanging up on a mouthy debtor? would you like to punish them somehow?

Debt Collectors?

I had my mobile phone stolen a while ago and cancelled my plan because i was sick of the company i was with. It came up to $1500 in total and i have b...

Debt collectors?

Should you send payment to a credit card company even if a collection agency is calling you? The debt has not been sold to the collector.

What information is sent to debt collectors when a company submits a debt for collection?

What information do debt collectors receive when a company forwards a debt for collection? Do they simply get the information for the debt (name, add...

How to confirm if you have a legitmate debt when debt collectors are sending letters?

How to check to see if the debt is really legit? I know there's a statute of limitations of 7 years that prevents debt collectors from contacting you ...

How did these debt collectors find my address?

So I have recently moved because of the military and somehow 2 debt collectors found out my address. I monitor my credit report and no one has reviewe...

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Debt Recovery

 

Debt Recovery Knowledge Base

Debt Recovery?

What is the length of time before a debt can be written off and not pursued by a debt recovery company. (i.e clothing store) This debt goes back to 2...

Debt recovery?

My son has left home owing monies to a major credit card company..his address for this debt is my own and my wifes. we do not have any contact with ou...

Can a debt recovery company attach unsecured debts to your home?

I thought unsecured loans meant just that, but someone said the debt recovery companies have a way to attach these debts to your house, so it then bec...

Will a debt recovery company contacting me affect my credit rating?

Hello I received a letter from a debt recovery company requesting money that I had already paid. Will this now be on my credit rating? The company I ...

A debt recovery company are chasing me for a £500 unauthorised overdraft I got 13 years ago when I was?

a teenager at college. I haven't heard anything from Abbey for 13 years and suddenly I get this demand. My question is : Is there a time limit wh...

How can I stop a Debt recovery action with a repayment plan in place?

I am dealing with a Bank & the FOS behalf of my daughter. We are challenging them on a mis-selling of a bank loan. The only benificery was the ban...

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Debt Payment

 

Debt Payment Knowledge Base

Can I stop my debt payment then pay back the debts when I sell my house?

Me and my partner are in debt and can not keep up with the repayments. We took out loans to renovate our house then when we both lost our jobs we took...

Is there a regulation or law that for debt or bill payment by mail?

Is there a regulation or law that for debt payment by mail that the post office acts as the recieving agent for whoever the payment is sent to and the...

Where can I consolidate to one loan payment with high debt to income ratio?

I have good credit in the 600's, I just have a high debt to income ratio. I have about 4 personal loans I want to consolidate. One is already with P...

I hate automatic regular direct debt payment?

there are so many problems with automatic regular direct debt payment, for example, I asked 3g to cancel my phone contract and they still charging me ...

What happens if Russia or China refuses to accept our currency for debt payment?

With trillions of toilet paper dollars flooding the world markets we have perpetuated the false idea that this is the predominate currency of the worl...

Can a law firm ask for bank account information for non payment of debt?

Being sued by a company for non-payment of a debt. The judgment was passed and the County Constable sent around to gather items to repay the debt. T...

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Bankruptcy

 

Bankruptcy Knowledge Base

Bankruptcy?

I was just wondering what is the difference between Chapter 7, 10 & 13 bankruptcies. How did the new law that Bush passed now affect bankruptcies...

bankruptcy?

hello , after lots of consideration i want to go through with bankruptcy, the thing is that im unemployed and i dont want to spend any money going thr...

What type of bankruptcy can I file for If I have 1 house and an apartment building?

I need to file for bankruptcy but Im not sure on the steps I own a 3 bedroom House, and I own a 4 apartment building, My home is being foreclosed...

Is this a valid way to remove a bankruptcy from your credit report?

I have heard this is a good way to remove a BK. See below. Has anyone tried this? Unlike other negative information which stays on your credit...

What is the best bankruptcy software for an attorney opening a bankruptcy practice?

I'm a lawyer who is about to go into solo bankruptcy practice in the Eastern District of Virginia and I'm looking to buy bankruptcy software. Should ...

How much does bankruptcy affect the credit check deposit for cell phone service?

My husband and I just filed for bankruptcy not too long ago and are planning on getting a cell phone plan. Does anyone know how much the bankruptcy wi...

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Bankruptcy Law

 

Bankruptcy Law Knowledge Base

Bankruptcy Law??

I have a vehicle which is listed on my Chapter 13. But do I get the title to the vehicle when I finish paying the Bankruptcy Court??? How & w...

where can i find a free downloadable bankruptcy law library?

I need to find all the information I can about federal bankruptcy laws. Especially any thing I can download or print from a law library.

In Bankruptcy law in what cases could student loans be included?

I live in Ohio and my husband and I are filing bankruptcy. I was reading about bankruptcy laws and saw where it said that student loans could be inclu...

What is the bankruptcy law or code in Missouri to exempt my 2007 Tax Refund?

The bankruptcy trustee told me to ammend my exemption schedule to include my 2007 return, but I don't know the code. I filed with out an attorney, so ...

How different is the new bankruptcy law from the old?

I am considering filing bankruptcy due to the fact that in the last year i have willing foreclosed on my home and now it looks as though I am going to...

I am going to file for bankruptcy, can I include my leased vehicle under the protection of bankruptcy law?

I have a very high payment on my leased vehicle. I would probably have to buy the vehicle at the end of the lease due to excessive mileage and excessi...

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