Collection Agency Confusion!!

Date: Sun, 03/08/2009 - 09:37

Submitted by lmale
on Sun, 03/08/2009 - 09:37

Posts: 742 Credits: [Donate]

Total Replies: 2

I'm trying to organize all my debts so I know who I owe what to. However in less then 1 year many of my debts have been sold to more than one collection agency. Then I've got some that I thought were sold to collection agencies but the letters from the collection agencies say to send the payments to the original creditor...My goodness I'm confused. What is the best way for me to figure this out. I'm ready to start paying these folks off, just don't know who to pay...Reny

I would start by contacting your original creditors to see who t

I would start by contacting your original creditors to see who they list as having your account. How old are these accounts? If they are years old your original creditor may not know.

Another idea would be to get a current credit report.

lrhall41

Submitted by on Sun, 03/08/2009 - 10:43

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Sometimes it happens that the Original creditor sells off a debt

Sometimes it happens that the Original creditor sells off a debt to a collection agency who in turn again sell off the debt to another CA. So you should send a debt validation letter to the collection agency to whom the debt has been finally sold.
Now, there are some creditors who only transfers the right to collect the debt to a collection agency but does not sell off the debt. In such cases the name of both the OC and the CA may appear in your report. Now, I think that in your case the OC has withdrawn from the CA the right to collect your debt. So, you should send a debt validation letter to the original creditor.

lrhall41

Submitted by jstn.credit on Mon, 03/09/2009 - 02:52

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