Collectors & Creditors?

[ufo1]

Do collectors and creditors share personal information about you between each other? (eg. your home address) If a collector has your home address, does that mean the creditor also has your home address?

Do third party collectors have more power and resources to track you down than in-house collectors or is there no difference?

[tobee43]

this is the FTC site...it will explain in detail your rights of all creditors including 3rd party...hope it helps.

http://www.ftc.gov/bcp/edu/pubs/cons...dit/cre18.shtm

[ryan]

Do third party collectors have more power and resources to track you down than in-house collectors or is there no difference?

All of them have access to services that assist in debt collection. Their are services that do nothing but locate person's place of work. There are services that do "bank locates" for possible levy's. There are detective agencies that do all manner of collection assistance, everything from process serving to, to surveillance, to asset searches and more.

[ufo1]

Any other answers??

[catleg]

Ryan is right. There is practically no difference. In either case it's a numbers game. The harder you play, the harder you make it for them. The most common tool they have is just pulling your credit report to see who else you owe and who you're paying. Skip tracing is the other common service employed.

I think it only makes sense that contact information is shared, but each CA probably works the file fresh.

[DebtHater]

If a collector has your home address, does that mean the creditor also has your home address?

A creditor would have the information first. Example: Chase credit cards. If they sell it to a collection agency then all of your information (phone number, address) goes with the debt.

If anything third party collectors have less (legal) power than original creditors. The federal FDCPA (Fair Debt Collections and Practices Act governs what the collectors can and can't do. What is outlined in the act doesn't apply to original creditors.

If anything debt collectors have less (legal) power than original creditors. The Fair

[ufo1]

A creditor would have the information first. Example: Chase credit cards. If they sell it to a collection agency then all of your information (phone number, address) goes with the debt.

When a person moves or changes address and the person does not inform the creditor of change of address. Then, the creditor would be sending an outdated address to the collection agency, correct? If that is correct then who is responsible for finding the current address of the debtor, is it the collection agency or the creditor? If the collection agency is responsible for finding the current address; then when it does find the current address of the debtor, will it share that information with the creditor?