Re: Numerous collection agency for one delinquency
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Posted by Bob (184.108.40.206) on October 04, 2009 at 19:22:19:
In Reply to: Numerous collection agency for one delinquency posted by Boon on October 01, 2009 at 18:52:57:
If it is for the same debt, then NO, the old collection agencies cannot require payment.
What happens is that, the debt gets turned over by the original creditor. This may be on a commission basis, where the collection agency gives most of the money to the creditor, while taking a percentage cut for themselves. Or, the debt may be sold outright, for some percentage of the owed amount.
When it starts to go to other collection agencies, the real-world chances of payment are lower and lower, as time goes on. However, these bottom-feeders may get really excited if you are willing to talk to them, and possibly pay.
If you have already paid the debt to one collection agency, then you should be done with it.
Tell the other collectors to take a hike. Look on the menu to the left, and click "Credit Problems," then read the "Collection Agency FAQ" for info on doing that.
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