How long does it take for a collection agency...?

Question: to settle a debt for less? how about before they sue you? and do they let you know before they take action to sue or do they just do it?

Answer: That would really be dependent on the individual collection agency. Whether or not they proceed with legal action is really going to depend on the amount of money owed and if its worth the time, effort and expense on their part. You should be served papers when being sued. First thing a collection agency does is send you a letter giving you 30 days to dispute the validity of the debt. They like to call a lot too. Rarely have I a seen a collection account go to the point of a lawsuit or a garnishment. But again the amount owed will be relevant. Either way, your credit will be affected. Do what you can to take care of this debt. Credit is a useful tool in life, so if you can prevent something negative from going on it, then you should. Good luck to you.

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