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What happens when a collection agency g

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Icon Mini Profile howaboutit99





Joined: 27 Nov 2010

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Post Posted: Sun Feb 27, 2011 11:12 am    Post subject: What happens when a collection agency g
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A collection agency has been persuing a loan for 4 years to no avail and the mortgage company wrote it off three years ago what happens if the owner refuse to pay
Icon Mini Profile adonis
adonis




Joined: 22 Oct 2005



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Location: ALASKA
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Post Posted: Sun Feb 27, 2011 8:05 pm    Post subject:
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Welcome howaboutit,

As the lender has given the loan to the collection agency, then it is the collection agency who will come after you in order to recover the dues. It will remain as a negative item in your credit report. It is better to pay it off.

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howabouti99

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Post Posted: Mon Feb 28, 2011 1:40 am    Post subject: mortgage
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Not so Adonis, The collection Agency must have bought the loan or something, because the credit report reads "paid in full as agreed "
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