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Fernandes10101

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Please help me. I am too confused. To 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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Nope, paying collection won't change the status of charge-off with original Creditor, it would only change the collection to "paid" and perhaps "paid and closed". If original creditor still owns that debt then they should still have authority to recall the collection, if they can't or won't recall it? That tells you they sold that debt to collection and not send to... Opposite would be true as well, most time original Creditor would require you to pay back what's owed before they let you back in or reestablish services, if you pay original creditors that won't necessarily change the status of collection nor the charge-offs. You need to find out whom owns that debt before you actually pay, other wise you might not get the results you were hoping for, you might also get whatever were "said" in writing before you pay, collection agencies would say anything to get you to pay.

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Ars

Hi johnny..

as i talked with (collectiong agency) they said that citibank still owns the account..they are just a third party assigned from citibank to collect the money. I told them yesterday to send me letter .I told tem that i would pay in 3 payments but maybe i wont pay because i first have to see the letter. 

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