If i pay the original creditor......?

Question

I had a bank account with BofA about a year ago. I was negative 390.00 and they force closed my account. I started recieving calls from a collection agency- ER Solutions saying I owe them the money now.

I called BofA today and told them I wanted to clear this up asap. She pulled up all my info and she told me to go to a local BofA and pay it and take the letter from ER Solutions with me and the manager would call ER Solutions and tell them to stop collecting.
ER Solutions reported negative on my credit report 3 months ago, but I disputed it and it came off. It hasnt been on my credit reort since.
My question is if I pay BofA instead of the collection agency can the collection agency still report on me?
Would it be better to just pay BofA and hope it doesnt come back on my report or negotiate with the collection agency?
Any advise welcome. Thanks

Answer 1

Usually if you are contacted by a credit collection agency, the debt was sold to them. BofA probably does not own it anymore. If that is the case, then it is up to them to either report it or non-report it. I would do this:

Call the creditor. Tell them that you will pay it immediately via a certified check if they first send you a letter signed by their management stating that you will not be reported as late. These people are in the business of making money. If they are smart, they will accept the deal and remove any negatives on your credit report. If not, then your option is to tell them that you will pay only a portion unless they have a judgment against you. If the credit collector wants to play games, play back.

Answer 2

Since you already spoke to BoA, follow those instructions. The bank still owns the debt and merely hired a collection agency. When you pay BoA, that will take care of it.

Even more important that your credit report, paying BoA will get you of the Chexsystem and you'll be able to open another bank account.