Pay the bank or the collection agency?

Question

My bank recently reported my overdraft fee debt to a collection agency. I don't know if it means that the agency bought it out. And yes, I'm pretty stupid for letting this happen.

Answer 1

Call the bank and ask them. I'm sure you'll have to pay the collection agency.  

Answer 2

If this went to a collection agency, it is probably showing up on your credit report.  Negotiate a delete for pay settlement with the collection agency.  They are the only ones who can remove the derogatory item from you credit report.

If the bank merely assigned the debt to the collection agency, they may take payment.  But the derogatory item will remain on your credit report for 7 years.  If the debt was sold to the collection agency, your only option is to deal with them.

Answer 3

pay the bank if you call the collection agency and have them help you your credit score will go down!!!!