How Do Collection Agencies Work

Got this message from Brenda about collection agencies, she wanted to know how they work.

It really depends on the creditor, and how old the debt is, but check out the video for more information on how collection agencies work.

[UncleJacq]

I didn’t know Jason Statham gave financial advice.

[DiegoDora]

Great explanation! Thank you for taking the time to put this information together!

[himanshu]

Nice explanation. Can you explain with a simple example? I lost out on the part where you said the debt would be sold to collection agencies and they might get pennies on the dollar. I did not understand this part.

[georget]

Great video and presentation. If I want to open my own Collection agency in PA, do I need to be licensed for it ?

[aychingao]

i have a bill unpaid from hospital. 2800 dollars and they didn't even fix what I need them to fix on my body. They even misdiagnosed me. They send me the bill again saying will be send to collections agency. I have no insurance and I filled a form to get charity assistance, I sent bank statements, tax report and my job pay stubs, but they never contacted me back. I would appreciate any advice on me.

[cashcrewcartelmg]

how do i start my own collection agency?

[davidsworld]

I would like to know what would you do if a company faked records saying you owe money because the debt was about to be closed and could not be closed if in arrears.
then pass the debt to a company which they own not to say that since the original company took over they changed the rules and demanded personal information to a level past that the tax office ask for.
And breach agreement doing it.

[krazykorean]

Do cell phones and the ability to not have an address (ex. Living in an RV) and the use of a PO box # make it significantly harder for debt collectors to acquire payments?

[labballer]

back in 2009 I have gotten a ticket for speeding we are now in 2017 and it's in collection they are still trying to get money from me what do I do?

[maryurirodriguez]

What can you say about timeshares debts?

[sajspeed]

I have a credit line debt that is 11 years old. Recently a debt collection agency started calling me claiming to be collecting on behalf of the original creditor. Am i obligated to negotiate with the collection agency since i do not have a contract with the collection agency.Do the statute of limitations have any standing in this case? i live in sask and it is two years for limitations i believe. i asked them if they have a judgement against me and they failed to answer. Any advice would be greatly appreciated in how to handle this. Thank you.

[kturob]

One of my credit card debt I had one company trying to contact me to pay now it was sold to another company I asked them to prove paperwork to me a couple of days ago what should I expect next do they sell my debt or do they just keep it now

[venatorclass]

debt collectors I have that problem

I just wish my family wasn't being so stubborn and listen to my solution

[abhishekSingh-tsyx]

hi, I have transfer a nominal amount to my friend but I asked him to give it back he refused to give it....and asking me for moe money and saying I have not borrow any amount from should I do to get it back.

[justme-fesf]

I am a small company with 3 of my clients owing me money for products sold to them and they have not responded at all to any emails for the last 3 months. I have sent them one round of certified mail threatening to give this over to a collections agency and will send them a final round of mail before doing so. Any advice at all?

[kturob]

I got a good question for you I called one of the collections agencies I told him it's not my debt. I told him I want paperwork and proof that it is mine and that how much I owe them they connected me back to the credit card company it sounded a little fishy I listen to what they said I didn't give any information I do not think it was the credit card company I think it was them BS in me is that known to happen it did not seem like it was people from Chase. I've called the credit card companies in the past and they told me once they sell my debt they have nothing to do with it does anybody else know of this

[ovttemp]

I'm receiving disability. But recently health has become worse acquiring more health issues which I'm waiting for surgery. My debt has gone into collections. What's the likelihood that they can touch my disability $

[lonitafa]

Hello, I've recently had my thousands of dollars taken out of my Amazon account and now I owe Amazon lots of money I cannot pay. I live outside of the US and am I a US citizen or resident. How would I go about solving this and what are some legal repercussions Amazon could take against me? Thank you.

[voidvoidvoid]

It's called RACKETTING, mafia bullshit behaviour.

[vincentandrews]

I have money I owe to a landlord were i used to live but I didn't get evicted (thank god) supposedly it went to a collection agency but I think the agency is a fake! Its not BBB accredited and it has bad reviews online not to mention the website is missing a tone of stuff....how do i know if its legit or not?