Account Receivables

Question by jwsiriusjw: Is is legal to sell a bad debt to a collection company and they report the same debt on your credit report? I had a credit card I defaulted on and they sold it to a collection company and the collection company put it on my credit report as well as the [...]

Question by Debbie G: Is it worth paying a bad debt if it has already gone to the collection agency? My husband has 2 debts that have gone to the collection agency. One is the result of a credit card bill from his ex wife for $ 3,500.00. The ex is suppose to pay this [...]

Question by Raven R: Can a collection agency still report a bad debt 3 years after I filed bankruptcy? I filed Bankruptcy in 2006. I just got a copy of my credit report and noticed that a local collection agency is till reporting a debt that I filed bankruptcy against. It says last reported 04/09. [...]

Question by barbie: If a bad debt is taken over by a collection agency do I have to wait another 7 years after they report it? If I defaulted on a credit card in 2003 and that bad debt was subsequently handed over to a collection firm does this “re-start” the 7 year reporting period [...]

Question by Liz: Is there any way around the loophole collection agencies seem to have found in buying & selling your bad debt? I thought there was a seven year rule in that all bad debt on your credit report “fell off” after 7 seven years. It seems that now it might never go away. [...]

Question by melis8409: How do i settle a bad debt that has more than tripled since going into collection? I have been in contact with the collection agency and they said they would settle the $ 18,000 debt for $ 11,000. I do not have $ 11,000 nor am i able to get a loan. [...]

Question by Nitha: 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 returnable basis. However, after getting [...]

Question by yelhsa4186: How long will it take for a collection agency to report to the credit bureau? Part 2? It wasn’t a loan that I took out- it was for the tuition- it was a very messed up ordeal- I took a loan out in my own name and I asked for the complete [...]

Question by NYC2009: How long does a debt that went to collection stay on your credit report? I’m trying to clean up my credit and had a question about the debts that get transferred to collection agencies and the length of time they’re allowed to stay on my credit report. For example: lets say the [...]

Question by qdeezy: Why isn’t collection accounts on my credit report? I have about three past accounts that are in collections. I am trying to take care of all of them but two of them (a cell phone thats in collections and an old bank account) are not on my credit reports! I know that [...]