Settling with a collection agency

[scottmk]

i am trying to settle with a collection agency. they have told me that they have bought my account from the credit card company,it does show on my credit report as charged off bad debt,account sold. my question is if a settle can the credit card company still try and collect even if it has been sold to the collection agency?

[ivyalmighty]

Once your account is sold to a collection agency, the credit card company has washed their hands of the debt. They will not come back to you and ask you to pay them separate from the collection agency.

[94B]

Originally Posted by scottmk

i am trying to settle with a collection agency. they have told me that they have bought my account from the credit card company,it does show on my credit report as charged off bad debt,account sold. my question is if a settle can the credit card company still try and collect even if it has been sold to the collection agency?

Scottmk, before settling with this collection agency, my suggestion is that you first ask for validation of the debt. Have you done that? Are they reporting on your CR's?? If and when they validate, then go for PFD, if that is the route that you choose to take. Is this debt out of SOL, btw??

Also, please do not discuss anything on the phone with the collection agency again. Do everything in writing CMRRR, otherwise it never happened.

[Kdaddy]

Send out a validation letter first. Don't just bend over backwards for these people.

Kyle