Debt Collections Risks
The cluster centers on concerns about vendors sending unpaid bills or disputed charges to collections agencies, resulting in credit score damage, and shares experiences and advice on dealing with debt collectors. Discussions highlight risks in scenarios like stopping subscription payments or service disputes.
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Could they not still send the debt to collections and ding your credit?
Seems like a great way for the vendor to send you debt to collections.
Not quite. Now the business can send you to collections.
How is this working? Don't they send the unpaid part to collections?
They'll reach out to get the problem solved way before it reaches collections - the concept of collections is that they sell the debt at a loss so it's against their interests to do so.In addition, if you can prove that the debt is invalid (if you were not receiving the service you've paid for and made reasonable attempts to resolve it beforehand) then the collectors themselves will make a loss which should over time sour their relationship with the original company.In my ca
what about a collection agency?
You can make that debt collector pay you with small effort.
Doesn't having debt get sold off to collections have many of those same problems?
But then wouldn't you just have to deal with debt collectors calling?
Some companies will keep charging and sell the debt to a collection agency...which can affect your credit.