Posted on: 04th Sep, 2008 10:11 am
I have between a 630-678 score but have some accounts in collection, and some charged off. would it be benificial to pay original creditor or collection agency
Welcome djurz,
You'll have to pay off the collections to the collection agency itself. This is because your debt has been sold off to the collection agency (CA) so that they can collect the payment from you. Regarding charged-off debts, I suppose you'll have to pay the creditor if he hasn't sold it off to a CA.
You'll have to pay off the collections to the collection agency itself. This is because your debt has been sold off to the collection agency (CA) so that they can collect the payment from you. Regarding charged-off debts, I suppose you'll have to pay the creditor if he hasn't sold it off to a CA.
Welcome djurz,
As the original lender sold the accounts to the collection agency you need to make payments to the collection agency. Basically the original lender sells the accounts to the collection agencies if you are delinquent for a certain period of time. And after it goes to the collection agency, it is not the responsibility of the original lender to take the payments.
As the original lender sold the accounts to the collection agency you need to make payments to the collection agency. Basically the original lender sells the accounts to the collection agencies if you are delinquent for a certain period of time. And after it goes to the collection agency, it is not the responsibility of the original lender to take the payments.
It depends on what the collections are and their amounts. It will be up to the underwriters disdcretion.
