However, after 180 days of collection activity, the bank “writes off” the debt.
At this point, most major banks will hire a collection agency to collect the debt.
So, that means seven years from the date that you become 180 days past due.
The only way to have a collection item removed is for the collection agency to remove the debt. This means that you agree an amount to pay, and then the agency will remove the collection item from your account.
And after a few more months, the banks will typically sell the debt to a collection agency.
The phone never stops ringing, and they won’t stop asking for money.Your doctor or hospital decides when they hand the debt over to the collection agency, but it is usually around 60 days without payment.There are a lot of horror stories here, given the complexities of our medical system.The business model of an agency is to collect more from you than they pay for the debt.So, if they pay one cent for every 0 of debt, they will want to collect two cents.