Posted on: 27th Feb, 2011 10:12 am
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
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.
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.
Not so Adonis, The collection Agency must have bought the loan or something, because the credit report reads "paid in full as agreed "