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What happens if your debt goes to a collections company?

When someone defaults on a loan, or fails to make payments on an outstanding balance, their debt may eventually be sent to collections. Once this happens, consumers should be aware of the potential consequences they may face.

The most obvious outcome is that the consumer will now have to deal with collections companies who may contact them directly in an effort to collect the debt. Consumers can expect calls and letters from these collection agencies stating how much money is owed and what steps are needed for it to be paid off. If payment arrangements are not made, there’s a chance that further legal action could be taken against the debtor.

In addition, when debts go into collections they can affect credit scores significantly as it remains on a person’s credit report for up to seven years.

The Law Offices of Omar Zambrano has helped thousands of the people and businesses in the past to get out of debt and start over.

Our goal is to help you find a fresh start FAST!

Schedule your free consultation today! By Calling 626-338-5505 or visiting us at 12738 Ramona Blvd Baldwin Park CA 91706


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