Random Collection Agency Question

movingonup23 — Tue, 13 Jan 2015 19:26:42 GMT

I don't know why this just popped in my head but I couldn't find the answer:

Let's say you have a DOFD of June 2010 and a collection agency now holds the account. You and collection agency agree to a payment plan of monthly payments for 4 years and the debt is paid off on January 2019. Will the collection account be removed in June 2017-December 2017 or does the account remain on the report because of the payment plan?

This really is a hypothetical question and I look forward to gaining some knowledge!

Re: Random Collection Agency Question

Anonymous — Tue, 13 Jan 2015 19:40:32 GMT

Payment plans do not affect DoFD. However if you default on a payment plan, that CAN reset the Statute of limitaions on whether you can be sued or not - but it still does not affect the DoFD.

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Random Collection Agency Question

Re: Random Collection Agency Question