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lollygags

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Collection agency closed, how do I pay the debt?
I just joined Credit Karma and found a debt for $100 from a couple of years ago that I didn't realize I owed. The collections agency that owns the debt was apparently closed down by the state of Colorado so I'm curious how I should go about trying to fix this issue? Should I go to the orginal creditor and make the payment or wait until the debt is picked up by another agency? If I go to the original creditor and pay them how will it show up on my credit report since they don't "own" the debt anymore? Do you think it will still be possible to negotiate with them a pay for delete since it's not with them anymore?

Thanks for the help!

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In addition to the above you should also use the "opt-out" of pre screening offers as well as removing old addresses from your 3 credit reports to keep this old debt from "popping" back up because of  being picked up by another collection agency thru data mining. Can google this for a better understanding. NEVER pay a collection agency because in doing so the only thing that will change is the way it is reported..."Paid Collection" or similar...which is just as damaging as an open collection account. Verify that there is a working relationship between the CA and the OC because there may not be one. If there isnt one you know you are dealing with a junk dealer CA that may have just "aquired" your account for literally pennies on the dollar. If you choose to still deal with them, the pay for delete is the only method I would suggest. Check the SOL for your state...it may not be a legally collectible debt and this alone will give you leverage when trying to apply the "pay for delete" negotiation. Again, do not try to pay this account. The OC has already written this off...dispute it and it should go away. Make sure you are looking at all 3 of your reports to determine if it is on one of the other reports as well. Dispute any other credit report it is showing up on at the same time. Hope this helps.

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Dispute the account with the credit bureau(s) reporting it and it will be removed if the company does not respond to the dispute, which I assume that they wont if they are no longer there.

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Thank you both!  I will dispute the account and see what happens.

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When I called the number listed under the debt collector it was another debt collector by another name. When I googled the first debt collector it said it was permanently closed. So I filed a dispute, it came back saying I owe $1 less than the original amount. How can I pay the debt if I can't reach the agency??

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