Who is more benefical to pay?
Date: Thu, 05/06/2010 - 13:43
It depends on whether the collection agency has bought the accou
It depends on whether the collection agency has bought the account or they are acting on behalf of the original creditor. If the collection agency has bought the account, they are now your creditor and you should pay the collection agency. If the original creditor still holds the account, then I believe the original creditor can tell the collection agency they can stop collection actions, and authorize the credit bureau to remove the account from your report.
No. Payment will not automatically remove the debt. You may be a
No. Payment will not automatically remove the debt. You may be able to negotiate removal of the negative information as part of the payment agreement with a third-party collection agency. The original creditor is not as likely to negotiate removal of the negative information.If you do attempt to negotiate removal of the negative information from your credit report, make absolutely sure to get the terms of the agreement in writing and signed by someone with the authority to request removal of the information.
What if the original creditor takes the payment? Who notifies th
What if the original creditor takes the payment? Who notifies the collection agency that the debt has been paid? Also, what the collection agency do, keep it on my CR but update it saying that it's been paid?