debt  legal


Question by  Pat64 (25)

Can a debt collector decline a partial payment?

I offered a partial payment for a debt and it was declined.


Answer by  tml (538)

Debt collectors and collection agencies are not require to accept partial payments. In fact, it works against their interests to do so. They usually get paid on a percentage of the total debt assigned. So to accept less could legally let you off the hook by being interpreted as a settlement.


Answer by  kendall (95)

Yes it also depends on the type of collection it is. For instance secured debt, mortgages etc. , if the company is in the process of a notice of default or judgement they will only accept full payment or continue with the legal procedings.


Answer by  Packers123 (80)

I believe debt collectors can decline a partial payment. It is the person to whom you owe that cannot deny partial payment. As long as you pay something to the person you owe should be enough. It is the job of the debt collector to try to collect it all.

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