Collection question

[adviceplease]

When you recieve a letter with the intent to turn your account over to collections is this when they start to sue or do they try to contact you for a while? I am going on 90 days on one of my accounts and recieved letter that it is going to collections. Once you retain a lawyer and give the creditor that info do they generally back off? What if they start to sue you before you actually file?

I know that this is asked a lot but I am confused at what point it goes from collection to a lawsuit.

[backtoschool]

When you get a letter for the OC that they "intend to turn your account over to collections" it can mean one of several things:

1. It is just an idle threat and they aren't going to do anything

2. They are going to turn your account over to their internal collections department, but still hold onto the account.

3. They are going to turn your account over to a collection agency, but still hold onto your account.

4. They are going to charge off your account and sell it to a JDB.


After 90 days, it is very unlikely that #4 would happen.

It is highly unlikely that the OC would sue after ninety days. It usually a year or more for the OC to sue. Six months would be the absolute earliest based on what I have read here and elsewhere.