Subscribe To This Site
XML RSS
Add to Google
Add to My Yahoo!
Add to My MSN
Subscribe with Bloglines
Home
Blog
Popular Topics Negotiating
Being Sued?
Deceased Debts
Credit Reports
Debt Not Mine
Foreclosure
Bankruptcy
Medical Debts
Free Resources Free Worksheet
Q & A
Complaints
Alerts
The Book Our Book
Buy Now
Testimonials
The Authors
Site Info Newsroom
Privacy Policy
Partners
 

Collection Agency No Longer Exists

I still owe a collection agency and was making payments. The Agency was forced to close immediately and lost their legal license. Will they still go after me for the balance

Comments for
Collection Agency No Longer Exists

Click here to add your own comments

Apr 07, 2011
 Collection Agency No Longer Exists
by: Debtcollectionanswers.com

If the agency lost its license to operate, then it is no longer entitled to collect from you. However, if it was collecting a debt on behalf of a creditor you owe money to, the creditor is likely to turn your debt over to a different agency.

I am not sure what is apt to happen if the agency owns your debt because it bought it from the creditor. If you know that your debt was sold to the agency, I suggest you contact your state attorney general's office to see if it can tell you what will happen to the debt now that the agency has lost its license or that you try to get that same information by contacting a consumer law attorney in your area who helps consumers resolve debt collection problems.

Good luck!

Click here to add your own comments





Learn how debt collection laws can help you!
This website does not provide legal advice.
All information is for educational purposes only.
Copyright 2007 - 2011 by Mary Reed and Gerri Detweiler.
All rights reserved.

SBI
SBI!

We are honored to be featured as a Best Money Site!

best money sites

free ebook chapter

debt collection help on DebtCollectionAnswers.com