Should I pay off one debt now or all later?

Question

I recently looked over my credit report and I have several accounts with collection agencies. In two cases I have the same CA for two accounts. If I can only pay off one, would they be able to sue me for the other account? If I pay off one debt, will the other CAs come after me?

Also, if I choose to send them a debt validation letter for one account, would they reopen just that one or both accounts I have with them?

I would really like to start paying off my debt now, but I don't want to be harrased by CAs continuously for it. Thanks!!!

Answer 1

You should request an investigation through the credit bureau. If you have proof something is wrong send it but that is not a requirement, in fact it is not required that you provide a reason at all. If you request an investigation on the validity of a debt they are required by law to do so. If they do not verify that the account is yours, it will be removed. If the debts are found to be valid, it will not affect your credit. On your report it will state something like, "customer disputes validity of debt."

Other than that, as long as you maintain open communication with the creditors, they will not likely sue you. Remember when you talk to them that the creditors on the other end of the line are just low wage workers in a menial position with a high turnover rate. Do not allow them to bully you. Let them know that you are willing to talk to them but only once a month. Then talk to them. Tell them what you can offer even if it's only a few dollars a month. They will take whatever they can get. If you have nothing tell them "sorry, groceries come first." Whatever you do, DO NOT provide them with your account information. Send them a money order.

Answer 2

I recommend paying off as much as you can now. This way it keeps the CA's at bay. They see you are making payments. Also it helps because you won't get that urge to blow it on something pointless.

Answer 3

one probably sold it to the other just find out which one has the account