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Can a creditor refer my account to a collection agency before my debt is due? Do I have to be told before a debt is turned in to collections?

While the creditor does not have to tell you before sending your account to a debt collector, usually they will try and collect the debt from you before sending to a collector. Sometimes collection agencies manage the entire account receivables ...

Can I be arrested for an unpaid debt?

A debt collector can’t threaten to or have you arrested for an unpaid debt. If you’re sued and you don’t comply with a court order, though, you could be arrested. It’s a violation of the Fair Debt Collection Practices Act ...

What happens if I default on a private student loan?

If you’re unable to make your private student loan payments, the lender can report your default to consumer reporting agencies, which could harm your credit. They may take different actions to collect the debt. If you are worried you won’t ...