Charged-off credit card / collection agency advice wanted!

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Joined: Mon Feb 10, 2014 7:37 pm
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Charged-off credit card / collection agency advice wanted!

Postby uh_oh » Mon Feb 10, 2014 7:50 pm

A little less than 2 years ago, I was going through a rough time and stopped paying my credit card bill. It was my one and only open credit card. At first, I received tons of calls from the creditor but I ignored them. Eventually, they closed my account and it was charged off. I got calls and letters from a collection agency after that, but I ignored all those too. I moved last year and I think they couldn't find me anymore and so they stopped contacting me all together. The debt was always at the back of my mind but I was really irresponsible and in denial of its existence, so I tried to ignore it. It was for over $5k.

Recently, I became very concerned about my future and decided to check my credit report. As expected, it listed that account as charged off. However, my credit report doesn't mention that it was passed onto a collection agency. I called the original creditor and they gave me the name of the collection agency to whom they passed on the debt. Why isn't this collector showing up on my credit report? I'm worried that if I call them and make this an issue, then the collection agency WILL show up on my report. I actually can't afford to pay back this debt now but I really do intend on it. (I can only pay about 20% of it right now.) I'm also worried about my credit score going even lower. What should I do?

Thank you in advance!

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