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Anonymous
Anonymous asked in Business & FinanceCredit · 2 months ago

will collection agencies go out of business from this virus?

some businesses have shut down or are closed. I could take advantage of that by disputing all derogatories on my credit report and when they do not respond in 30 days, I no longer owe it and the derogatory is removed from my report right

Update:

I pay my bills that I am current on which include my 5 credit cards. My collections have been sold to collection companies for pennies on the dollar and will stay on my report for 7 years. I would pay them if they remove it from my report. (pay for delete)

Update 2:

if the collection is removed from my report, there  is no evidence of me defaulting so how would they know I'm a "dead beat". If I pay them, would that make no longer a dead beat

7 Answers

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  • 2 months ago

    Obviously they would make allowances for the 30 days in this case. Nice try though.

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  • 2 months ago

    Some might.  They all won't.  WRONG!  Just because you dispute a charge does not mean you don't owe the debt.  It only puts a dispute on record.  The derogatory will not be removed from your report unless you state something in your dispute that they agree with, such as you are not that person - and prove it, such as a different middle name.  They would get their evidence of the debt from the creditor, who hired them to collect the debt.  If you pay it, it would no longer make you a deadbeat.  However, if you do not owe it, do not pay it. Credit reports are filled with BS crap.  I know.  It had me living in a store at one point, one I had never been to in my life, in an area I had never been to in my life.  I didn't even live in that state.  I also went bankrupt at age 11, when I had never set foot in the country - figure that.  I did manage to get that one removed.  And the store who reported me on it apologized for their error.  I have never been bankrupt in my life.

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  • 2 months ago

    No.

    1. You could not take advantage of the situation. Even businesses that have shut down or are closed usually have someone working from home who can respond to the disputes, and has very little other work to do, so you won't get the derogatory removed.

    2. Getting something removed from your report does not stop the collection agency. They can still try to collect, even if something is removed from your credit report.

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  • Anonymous
    2 months ago

    Not all.  the ones that are left will buy up your debts and put them back on your credit report.

     

    < I would pay them if they remove it from my report. (pay for delete) >

     

    And then other creditors won't know that you are a deadbeat.

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  • Shay
    Lv 7
    2 months ago

    Since everything is digital - these disputes would be electronically filed and it is very likely that a collection agent working from home would respond to the dispute.  

    A "closed" business office doesn't always mean that ALL business has stopped for that company.  

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  • Anonymous
    2 months ago

    No. If anything, there might be more. Your disputing trick has been tried by many for decades and it fails 99.9% of the time.

    How about paying your bills rather than trying to find ways not to?

    You don't know what debts were sold for what price.

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  • Jim
    Lv 7
    2 months ago

    Good try, but many businesses are still open electronically and will respond accordingly. So those derogatory reports will still be there. 

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