Hi Hary
Collection agencies can definitely call you up if they have purchased your debt or has obtained the right to collect the debt from the original creditor from whom you have taken a loan and has not yet repaid. Now if they call you up, they must send a debt validation notice within 5 days of first correspondence and if they fail to do so, then you need not pay attention to their call. However, you can pull out your credit report to check whether the CA has listed the debt in your credit report or not.
If they have listed the debt in your credit report, you can send a DV letter to see whether the CA actually has the right to collect the debt or not. If the CA validates the debt, you need to pay it off by coming to a repayment agreement with the creditor else there is a chance that the creditor or the collection agency can bring judgment against you to recover the debt and if there is a judgment listing in your credit report, your credit score can fall by as much as 100 points and even more.
hi
if the collection agency call you for debt. you say i sir i don't have sufficiant money for your payment, so give some time.
A few days later i will pay your debt. with intrest or palenties
Hi Neeraj
If the collection agency call you for the debt, don't pay them off immediately. First check your credit report to find out whether they are listed there or not. If they are listed in your credit report, send them a debt validation letter by certified mail to check whether you actually owe the debt or not. If they actually owe the debt, then come to a repayment plan else not. Listing their names in the credit report does not mean that you have to pay them the debt they claim.
Hi Hary
Collection agencies can definitely call you up if they have purchased your debt or has obtained the right to collect the debt from the original creditor from whom you have taken a loan and has not yet repaid. Now if they call you up, they must send a debt validation notice within 5 days of first correspondence and if they fail to do so, then you need not pay attention to their call. However, you can pull out your credit report to check whether the CA has listed the debt in your credit report or not.
If they have listed the debt in your credit report, you can send a DV letter to see whether the CA actually has the right to collect the debt or not. If the CA validates the debt, you need to pay it off by coming to a repayment agreement with the creditor else there is a chance that the creditor or the collection agency can bring judgment against you to recover the debt and if there is a judgment listing in your credit report, your credit score can fall by as much as 100 points and even more.
collection agency
hi
if the collection agency call you for debt. you say i sir i don't have sufficiant money for your payment, so give some time.
A few days later i will pay your debt. with intrest or palenties
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neeraj
-Make Money-Make Money
Hi Neeraj
If the collection agency call you for the debt, don't pay them off immediately. First check your credit report to find out whether they are listed there or not. If they are listed in your credit report, send them a debt validation letter by certified mail to check whether you actually owe the debt or not. If they actually owe the debt, then come to a repayment plan else not. Listing their names in the credit report does not mean that you have to pay them the debt they claim.