What happens if I make a payment to the wrong debt collector?

If you make a payment to the wrong debt collector, it is important to take action as quickly as possible. In Mississippi, it is illegal for debt collectors to collect on a debt that has been paid off, discharged in bankruptcy, or is beyond the statute of limitations. If you have made a payment to the wrong debt collector, you should immediately alert the company that the payment was made to and request the return of the payment. Additionally, you should contact the proper debt collector and inform them that the payment was made to the wrong party. The proper debt collector may be able to arrange to have the payment transferred to them. If you have difficulty contacting the proper debt collector, you can investigate the matter further by contacting the Mississippi Department of Banking and Consumer Finance. They may have records of the debt collector who is holding the debt. Finally, you should save all documents relating to the payment, such as copies of checks, bank statements, or credit card statements. This is so you can keep track of any payments that have been made and who they were made to. This will help you protect your rights if any disputes arise. By taking these steps, you can ensure that your payment is going to the correct debt collector.

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What happens if I make a payment to the wrong debt collector?

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