To make a long story short I recently had a credit card become charged off. It was an account I paid on-time for over 5 years, then had 6 straight months of non-payment due to economical hardship. I did the wrong thing and did not contact them and it got charged off. The credit card limit was 10,600 and the charge off amount is nearly 12,000 due to overdue fees and interest etc. It is showing in my credit report as a charged off credit card by the original creditor. It is not showing in collections anywhere. My last payment to this account was Feb 2017 and that is also what is listed as the date last reported on by the original creditor.
Beginning in July I have received 2 letters about 4 weeks apart from a collections agency, saying they were an authorized agent of original creditor and my account was referred to their office by the original creditor. I have not responded to these letters or to the many phone calls from this collection agency as I didn't think I was supposed to admit anything to them. I believe this to mean that this company has been assigned the debt and not sold the debt if I understand correctly.
My desire is to pay this debt although I do not have the means to pay the entire balance due. I also believe it to be best to pay the original creditor and not the collections agency, is this correct? Should I attempt to offer a settlement and if so to whom? I want this figured out because I feel like I don't have much time left before the debt is not just assigned, but sold and potentially sued for.
Thanks.
Submitted September 22, 2017 at 09:59AM by indebtthrowaway1234 http://ift.tt/2hli8qm
