once on credit report, can i still be sued by: Debtcollectionanswers.com
Whether or not a past due debt has been reported to the credit reporting agencies has no bearing on what a debt collector can and can't to try to collect the money. Although debt collectors often report past due debt to credit bureaus, collection agencies and credit bureaus are not affiliated with one another.
When you are late with a payment that you owe, the creditor to whom you owe the money will probably begin reporting your past due payment to one or more of the three national credit bureaus -- Equifax, Experian and TransUnion -- and eventually, if you do not pay what you owe, the debt is likely to be turned over to a debt collection agency. At this point, the agency will start reporting to the credit bureaus that your debt is in collections, which will be very damaging to your credit and which will lower your FICO score.
If the collector's calls and letters do not get you to pay what you owe, then the collector may sue you. Again, the fact that the debt is on your credit report has no relationship to what the collector can and can't do to collect the debt. And, if you are sued, that fact is likely to show up in your credit report as well and further damage your credit and your credit score.
If you would like to learn more about what debt collectors can and cannot do when you owe a past due debt and about your options when you are contacted by a collector, I recommend that you purchase our ebook, Debt Collection Answers: How to Use Debt Collection Laws to Protect Your Rights. You can read the first chapter of Debt Collection Answers online for free.
