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Question
My dentist send me a different bill 3 months after they gave me their quotation. After all the arguments with them, I agree to pay the new bill that they sent me. I was just 1 1/2 months late with my payment plan and they have reported me to the collection's department already. My question is, When is the legal time for a company to report the debtor to the collection agency? Please help me with my question, It would really mean a lot. Thanks.
I believe you are confusing a collection "agency" and the credit bureau. A collection agency may be assigned a delinquent account to collect any money due. They may or may not be a member of any or all of the major credit bureaus. If they are a member they may regularly report the status on ALL of their accounts or at least the ones they cannot collect. In this case the information is automatically reported or they may choose to report it manually. Not all accounts assigned to a collection agency get reported.
I suggest you pull all 3 credit reports and see if it is being reported. Then contact the collection agency and make them a new proposal for payment. Make sure you can afford it and pay on time. Ask for a settlement for less than the balance if you have resources.
To answer your question, a credit or collection account can be reported as late when it is over 30 days late.
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Answers by Expert:
Michael Brotherton
Expertise
Consumer/Debtor Rights Advocate. Mike Brotherton is a negotiator with over 30 years experience in consumer lending and collections. Mike has 30 years in the credit and collections industry as a former loan officer, debt collector and manager of two finance companies over several years. Mike is well versed in Loss Mitigation practices and the legal collection process. He has helped literally thousands of people over many years overcome serious financial problems such as foreclosure, creditor lawsuits and abuse by debt collectors. For more information about resolving your "financial emergency" visit www.financialemergency.com. FinancialEmergency.com is a consumer web site which actively promotes Fair Debt Collection Practices and other consumer protection laws. We teach DEBTOR RIGHTS and enforcement of those rights. The more informed you are of your rights and the credit collections practices of creditors the more peace you can have dealing with your FINANCIAL EMERGENCY. Most financial problems are fairly common and as such have some very common solutions. The key is understanding your rights in the collection process and how to enforce them if need be. Primary business- Debtor Rights Advocacy and Debt Mitigation relating to foreclosure, creditor lawsuits, and other serious financial problems. www.financialemergency.com (copy and paste in browser).
Experience
Over 40 years combined experience negotiating disputes and resolving financial issues related to consumer debt, corporate issues and mortgage modifications.
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