Collection Accounts Removed

There are two different types of collections that most credit correction companies do not want to let you know about. If consumers knew how to deal with these two different types of collection accounts, consumers could take action on their own.

There are two types:

First type is assigned debt. Assigned debt means that the original creditor has assigned the past due amount to a collection company for collection.

Second type is sold debt. Sold debt means that the account was actually sold and the original creditor does not manage or have anything to do with your old account anymore.

First always dispute with the Credit Bureaus.

Next, if the collection account is not removed then debt validate the collection company.

Then call the creditor and ask if you can pay the debt directly with them.

They will let you know if they will take the payment or if they direct you to the collection company then you know the debt has been sold.

If it has not been sold, pay the original creditor.

Dispute again with the Credit Bureaus on the validity of the debt and account.

Remember the collection company will not have a right to report inaccurate information. It is inaccurate because the debt is no longer valid and it is their attempt to collect on an invalid debt if they are reporting it on your credit report.

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