I rec'd my credit reports & there are comps. listed with phone nos. Who should I pay, the comp. I owe or the coll. agenc?

I rec'd my credit reports & there are comps. Listed with phone nos. Who should I pay, the comp.

I owe or the coll. Agenc I received my credit reports and there are companies listed with phone numbers. Who should I send the payments too, the collection agency or the company that I owe the money too?

Asked by CJ241 21 months ago Similar questions: rec'd credit reports comps listed phone nos pay comp owe coll agenc Business > Financial Planning.

Similar questions: rec'd credit reports comps listed phone nos pay comp owe coll agenc.

2 Usually, the debt has been "sold" to the collection agencies, so you pay them. But you might want written confirmation that they agree to take this off your credit report if you pay the money. Also, you may want to negotiate with the collection agency.

Collection agencies often "buy" new debt for about 50% face value, and if it's old debt, they may have bought it for even less. So if you want to pay it off, be sure to negotiate.

Usually, the debt has been "sold" to the collection agencies, so you pay them. But you might want written confirmation that they agree to take this off your credit report if you pay the money. Also, you may want to negotiate with the collection agency.

Collection agencies often "buy" new debt for about 50% face value, and if it's old debt, they may have bought it for even less. So if you want to pay it off, be sure to negotiate.

3 Since the accounts have benn turned over to collection, you need to pay the collection agency. Call each one and do not be afraid to try to bargain. A lot of collection agencies will take less to settle the account than the entire balance due.

Since the accounts have benn turned over to collection, you need to pay the collection agency. Call each one and do not be afraid to try to bargain. A lot of collection agencies will take less to settle the account than the entire balance due.

4 Some original companies will accept your debt payment but they will then give the 'extra' money to the collection agency. No negotiations if you choose this method.

Some original companies will accept your debt payment but they will then give the 'extra' money to the collection agency. No negotiations if you choose this method.

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