Can collection agencies send the debt back to the credt card company if they can't collect it?
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They can send it back to the creditor. but if the collection agency sends it back to the creditor they will probably put the bill in a dormat file.. If an agency can't collect on it then the creditor probably won't bother..Statue of Limitations on a debt is usually 6 years then no one is allowed to ever bother you again. If you send them even $10 after not paying them for 5 years then the statue of limitations starts all over again.. I suggest if you have no assets they can find on you like property, job or checking account information then they will leave you alone after a while. No fun going after someone who does not have the funds to pay. If collections calls you then get the persons name and tell them never to call you again. Ask for a cease call or else you will file a suit against them if they dare violate the FDCPA Laws. consumers have rights and these companies charge so much finance charge that its a crime. If you ever decide to pay a creditor always pay with a money order.. if they get your checking account information then they will store the information because its an asset. If you stop paying them then they can serve you and get judgement against you. If they win then one day they will go in a take a ton of money out of your checking account when you least expect it. Your checking account is an asset so never give a collection agency your checking account information. I know because I use to work for collection agencies and we did this all the time.. Good luck
they can sell your debt to anyone who will buy it. then the buyer will come after you.
No.
I think they just "sell" it to other companies to keep it on your credit report. I have owed a couple of companies for years and different agencies contact me about the same debt. Oh yeah Lee's "sword" is more like a butter knife!
No, I think I'll answer this one. Yes, they can transfer it back to the CC company. A friend of mine had that happen. Also, they can transfer to another Collection agency.
PAY YOUR FREAKIN' BILLS. You shouldn't care if you have to pay $10 a month for the next 50 years.
I have a similar problem with American Express, but they sent mine account directly to an attorney for collection not a collection agency. They're not letting it go I know that. They harrass me everyday about my account.
From personal experience, they will continue to sell, sell, sell (your acct. that is). My best piece of advice. when you get the collection notice, call or write them a letter and ask them if you can set up a payment plan. (that is, if you can't pay in full) Or.. do like I did. I sent them a check for $10.00 and asked if I can just send $10/month until it's paid in full. Some money is better then no money!! Not only that, it won't reflect as bad on your credit report! Some companies are just not willing to work with you like that though. Good luck!
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