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Time limit for collection agency to post payment?

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Hello. Does anyone know the laws on how much time a collection agency has to post a payment once they receive it? Also what agency governs rules associated with when payments need to be posted? Thanks!




Before answering your question, I have one question for you. Are you a creditor or a debtor? Have you assigned any account to a collection agency or have you made a payment to a collection agency? Are you a creditor who is waiting for a payment or are you a debtor who has made a payment?

Collection agencies are ruled by the FDCPA Act and governed by the CFPB.

Sub: #1 posted on Mon, 10/21/2019 - 03:02

Nick Jonas Nick Jonas

(Posts: 393 | Credits: )

I am asking on behalf of a debtor that has an account with a collection agency.. I cannot find any information anywhere that states how long a collection agency has to post a payment once it has been received. I searched FDCPA and CFPB. Thank you.

Sub: #2 posted on Tue, 10/22/2019 - 04:49

naoout123 naoout123

(Posts: 2 | Credits: )

I hope you have all the negotiations with the collection agency in writing..Verbal deals are difficult to prove if anything wrong happens.
Also how did you pay them? I mean what was the mode of payment?

Sub: #3 posted on Mon, 10/28/2019 - 01:55

Barbara Delinsky Barbara Delinsky

(Posts: 429 | Credits: )

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