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Debt Relief:Collection Agency: Difference between revisions
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Creditors wait from six months to two years before turning a bad account over to a collection agency. | Creditors wait from six months to two years before turning a bad account over to a collection agency. | ||
There are different reasons why the debtor ends up in collections: poor money management skills, illness, no money to pay, and sometimes the debtor just does not care to repay the debt. | There are different reasons why the debtor ends up in collections: poor money management skills, illness, no money to pay, and sometimes the debtor just does not care to repay the debt. | ||
The following information was gathered in an interview with the manager of a local collection agency: | |||
* A collection agency goes after an individual who will not pay a debt. this debt is anything from medical bills to florists bills. | |||
* Creditor may not seek a collection agency help for 6 months to 2 years after the debtor is delinquent. | |||
* Reasons why debtors do not pay varies. Some reasons are ''poor money management skills, illness, and lack of desire to pay "what is owed. | |||