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Fernandes10101

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Need help. Please. Where should i make the payment?
Hi. When i see my credit report in creditkarma.com, i see 1 "collection-charged off account" under the accounts tab. The amount i owe is 2k. I called the bank(original creditor) and said that i want to pay my full amount. They told me that they sent this amount to the collection agency and i should call them(i also received a letter from the collection agency 1 week ago). Anyway, i called the collection agency asked if i pay the amount will they change the status of my account to "paid" from "charged off" and they told me that the bank stills owns the account and we are just a third party trying to collect the amount on behalf of the bank. So i think the collection agency is just trying to collect the amount on behalf of bank. They told me if i pay to them, they will notify the bank and bank will change the status of the acccount to "paid" from "charged off". By the way, i dont see this account under collection tab in creditkarma.com . So if i pay the full amount to the collection agency and then they notify the bank, will this be a good for me ?

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Top Contributor
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Get it in writing

That happens, an original creditor assigning their charged-off accounts to a collection agency.  It's in your best interest to pay any collection accounts, but make sure you get the terms in writing before you do.  For instance, if it's a $1000 debt that they've said they'll take $800 in one payment, and report it to the credit bureaus as paid; make sure these exact terms are spelled out exactly in a letter on their company letterhead.  This way, there is no confusion if the account is being misreported on your credit report(s) after 30 days.

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