A collection agency has told me that My acount has been closed and they won't tell me if they sold it or what

Question

Does this mean that I don't have to pay it but it is still on my credit report. Are they obligated by law to tell me what they did with the account? and does this mean I don't have to pay now that the collection agency closed it?

Answer 1

You still have to pay. This means that even after you pay, you won't be able to use the account anymore. You may be able to limit the impact on your credit report if you pay the full amount owed. They don't have to tell you much of anything. Who ever owns the account will come looking for their money.