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Debt Relief: Difference between revisions

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* A Creditor may not employ a collection agency for 6 months to 2 years after the debtor is delinquent.  
* A Creditor may not employ a collection agency for 6 months to 2 years after the debtor is delinquent.  
* Bad debt is referred to a collection agency because the debtor has  ''poor money management skills, is ill, or has a lack of desire to pay'' what is owed.
* Bad debt is referred to a collection agency because the debtor has  ''poor money management skills, is ill, or has a lack of desire to pay'' what is owed.
*Collection agencies charge a percentage o
*Collection agencies charge a percentage of what is collected as a fee for the service.
f what is collected as a fee for the service.
*The methods used by credit agencies to collect unpaid accounts are telephone calls to the debtor, [[Debt Relief:Definitions#Sue or suit|lawsuits]], and [[ Debt Relief:Definitions#Garnishee or Garnishment|garnishments]]. Collection agencies will provide a pay plan as well.   
*The methods u
sed by credit agencies to collect unpaid accounts are telephone calls to the debtor, [[Debt Relief:Definitions#Sue or suit|lawsuits]], and [[ Debt Relief:Definitions#Garnishee or Garnishment|garnishments]]. Collection agencies will provide a pay plan as well.   
*If the debtor does not pay using a pay plan, the collection agency will [[Debt Relief:Definitions#sue or suit|sue]] or [[Debt Relief:Definitions#garnishee|garnishee]] the wages until the debt is settled.
*If the debtor does not pay using a pay plan, the collection agency will [[Debt Relief:Definitions#sue or suit|sue]] or [[Debt Relief:Definitions#garnishee|garnishee]] the wages until the debt is settled.


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