Get FREE Counseling

Helpful Resources

Community

Popular Discussions

Creditmagic Twitter

Credit on Facebook

Home

Credit Forum

Credit repair

Is it legal for a Collection agency to ask for Bank statemen

Post reply Start a topic

Author

Message

Options

	Print this topic
	Invite a friend
	Email this topic

Bookmark online

	Add to del.icio.us
	Add to YahooMyWeb

rosierosie75

Joined: 26 Aug 2010
rosierosie75's page
Posts: 1

29 Magic Points

Subject: Is it legal for a Collection agency to ask for Bank statemen

Thu Aug 26, 2010 1:31 pm

Can collection agencys ask for bank statements and health records??

Aaron

Joined: 08 Feb 2010
Aaron's page
Posts: 2632

48563 Magic Points

Subject: handling collection agency

Fri Aug 27, 2010 4:48 am

Hi rosierosie,

Welcome to this community Smile

You should never give out any kind of personal information to a colelction agency including bank statements and health records. As a debtor you should be aware of your rights, and the Fair Debt Collections Practices Act (FDCPA) rules in order to properly handle a collection agency. For FDCPA refer http://www.ftc.gov/os/statutes/fdcpa/fdcpact.shtm .

Thanks,

Aaron
_________________
Keep in touch Smile

fireyone

Joined: 26 Feb 2008
fireyone's page
Posts: 4248

52 Magic Points

Mon Aug 30, 2010 12:57 pm

Rosie,

Please never give a collection agency this type of information. By doing so you are giving them all your valuable banking information and they could use it to access your bank account. Not all collection agencies (or rather most) play by the rules. They may dip in without a judgment and remove funds. If this does happen it can usually be resolved through your bank but causes a lot of work and troubles.

Aaron

Joined: 08 Feb 2010
Aaron's page
Posts: 2632

48563 Magic Points

Subject: collection agency

Tue Aug 31, 2010 10:12 am

Yes, once you give out your personal details to a collection agency they can just withdraw all the money from the account leaving you in more debt. One should always be very careful about giving out personal information to anybody calling to collect a debt.
_________________
Keep in touch Smile

ashleywatson

Joined: 31 Aug 2010
ashleywatson's page
Posts: 4

41 Magic Points

Tue Aug 31, 2010 12:22 pm

From my side I think you should never show your bank statements collection agency.

MELINDA
Guest

Subject: SENSATIVE DATA BREACH

Thu Apr 12, 2012 6:38 pm

Hi you say never give out personal banking info to a collection agency. But what if your Bank decides its fair to give out your personal Bank Statements ?

Anu
Guest

Subject: collection agency

Thu Mar 21, 2013 7:58 am

Hi collection agency people will send statements......can we ask them statements of credit card

Quick Reply

Your Name

Subject

Message body


Page 1 of 1

* Disclosures:

Your personal details (name, email address and phone number) will be delivered to the company advertised on the Creditmagic after ve agreed to go for the counseling session by filling out the no-obligation form. However, it is your discretion to accept or reject their services.
Not all the creditors/debt collectors agree to trim down the outstanding balances, interests, and fees payable by the consumer.
Consumers working with the debt relief companies can still be sued by the creditors/collection agencies.
Debt relief services may have a diminishing effect on the creditworthiness of the consumer. The total outstanding balance may increase as the additional fees get accrued.
The overall amount saved by the consumer through the debt relief services is considered as taxable income by the IRS.