If an account is in charged-off, should I deal with the collection agency or original company?

Answer 1

The original company if they will let you ...kr

Good Luck!

Answer 2

The collection agency takes control of the account over from the original company. Deal with the collection agency.

Answer 3

I suggest that you first inquire of the original company. If they have sold the account, ask them for a letter stating who they sold the account to.

Then deal only with the firm they sold the account to, unless and until that firm sends you a letter, (etc.).

Why??


To protect yourself from being ripped off.

How do you know that the 'collection agency' actually bought the account and isn't some scam targeting people with poor credit??


GL

[added] and tell the 'collection agency' what you are doing and why. If they're legit, they'll help you get the documentation. If they aren't, all they'll do is demand money and soon.

:/

Answer 4

You have no legal obligation to even talk to a collection agent.

Unless the debt was purchased outright from the creditor, they are nothing more then an agent. Everything they do must go through the creditor.

When you demand validation, guess what? They gotta call the creditor!

I always giggle when someone asks this question, and I read all these answers about you can't talk to the original creditor. WRONG!

However, keep in mind that the creditor hired these people to deal with the collection. They don't have to talk to you either, they can simply send you to their agent. But by doing so they pay them 30%+ of whatever they collect, so smart creditors will gladly talk to you.

Hope this clears things up.

Answer 5

Being charged off means only that the original company is no longer carrying it on their books. What they did to involve the collection agency was, in effect, selling your account receivable to them. You now have to deal with the collection agency.

Answer 6

Get the collection agency to validate the debt, write them a letter asking for a debt validation with the account number.
If they can not validate the debt it will have to come out of your credit. And by validate i mean an original contract with your signature.

Answer 7

No No No

Collection agencies won't be able to service your account.
They lose records, say they can't recall any payment being made, and resell account to another collector. Plus, they don't have the power to remove ugly information.

Deal with the original company.

Tools for collection agency. Hard ball
http://www.bendover.com/adiosbottomfeeder.asp

Many people recommend using a different form for collection agencies. Send a limited C&D (contact by writing only)

Robert

Answer 8

the collection agency.....

if you call the original company they will refer you to the collection agency because the account is no longer in their hands

Answer 9

The collection agency....after it goes to one, it is too late to deal with the orginal company.

What happens, is after the orginal company has tried, they put together all their deliquent accounts and 'sell' them to a collection agency. They then, try to collect.

Sometimes your personal information can be 'sold' to several collection agencies.

Answer 10

Ay ay ay.

Don't talk to the CA!!! Check if they are even legally allowed to collect said debt (debt validation). They probably will not validate.

Deal with the OC if you can (unless its capital one, you are SOL!!) and offer a PFD (Pay for deletion).

Be careful about waking up a giant however, you need to now how much within the statute of limitations it is in, to now how aggresively to pursue this matter.

All the best!

Answer 11

If account charged-off , why would you go and try to reopen this again. Will disappear from your report soon, Just leave this alone.