How long can a collection agency attempt to collect a debt?

+1 vote
asked Nov 27, 2017 in Credit by Tyler lewis (220 points)
How long can a collection agency attempt to collect a debt?

1 Answer

0 votes
answered Nov 28, 2017 by Lilly21 (57,780 points)
A debt collection agency can continue to try to collect a debt for 6 years. But if you respond to the credit agency then the clocks starts over again and then they continue to try to collect the debt again for another 6 years.

If you're unable to pay off your debt to the collection agency then the best thing you can do is to not respond to them as responding to the debt collection agency is admitting guilt of the debt.

Also paying off debt collection agencies doesn't help improve your credit rating. Not all debt collectors will report the debt as paid and the debt will still be on your credit report regardless if you pay or not.

A debt collection agency purchases your debt for less than you owed the original creditor. So the only one that benefits from paying a debt collection agency is the debt collection agency.

98,443 questions

94,802 answers

1,270 comments

6,992,728 users

...