I'd like to know whether or not it's important for me to update the collection agencies regarding any change in address. I've received collection letters, but right now I'm residing in foreign shores so I'm not sure what to do.

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Well, you don't necessarily need to update them and understand that debt collectors are pretty awful for that matter. Most importantly, when you're out of the country, then the Statute of Limitations is suspended. Giving debt collectors any information without any prior advantage to you is a strict no-no.

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