LG Wireless Phone

collection company on report but not original?

a few years ago i got a phone with cingular. now the debt has been sold to a collection company. i just checked my credit report and cingular (att) isnt listed on there but the collection company is. when i called to the collection company to settle for $50 i asked them to send me a delete to pay letter and i will gladly pay them...but they told me that they cant do that because its not at&t account anymore its there's is this possible?

Public Comments

1. Yes. Since the debt was not paid directly to at&t it won't show on your credit report. What will show will be the Collection agency's company name. After a certain period of time, the company (at&t)either sells or sends your account to a collection agency to contact you and come to an agreement.
2. Yes, whom every has the account now can ask for the original amount including fees and interest. So at the time you may owe $50.00 but it could be more now. The entire purpose is to get you to call them so they can muscle you.
3. Yes it is possible. Collection agencies buy people's debt from companies or other collection agencies. They buy the debt for pennies on the dollar. The original company that held the debt just writes it off as a loss on their income tax. The collection agency now owns the debt, so it is theirs to handle however they see fit.