0
Still curious? Ask our experts.
Chat with our AI personalities
Blake
Jordan
DevinAdd your answer:
Earn +20 pts
What happens in Florida if you quit making credit card payments?
after 180 days of non payment your account will be charged off and turned over to collection agency
What do you do if an account was turned over to a collection agency but the original creditor accepted your payment in full?
Contact the original creditor. Provide proof of your payment. They need to retract the account from the collection agency. The account could have been sold to the collection agency or simply assigned to them. For your purposes, it does not matter which situation applies. You paid the original creditor and your credit report needs to reflect this. After they do what they need to do to get the account back; you then dispute the entries with all three credit bureaus. The original account should show as a paid collection and the other collection account should be removed from your credit report entirely.
If your account is sold to a collection agency how to do you find out when it was sold and how old the account is?
When the collection agency contacts you, they have to give you the opportunity to request information concerning the debt. You will have thirty days to send a written request to dispute the debt. And to ask for confirmation of the original creditor, the amount owed, when the account was remanded to the agency, etc.
What happens if you miss several payments with the collection agency?
They stop collecting
What happens to loans if a bank collapses?
If a bank collapses, loans are typically transferred to another financial institution or a government agency for collection. Borrowers are still responsible for repaying their loans, but the process may be managed by a different entity.
