Debt and Bankruptcy

Will a collection agency or the original creditor accept monthly payments to pay off a debt that is in collections?

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Wiki User
07/17/2015

Most of the time a collection agency will accept 2-3 equal payments to pay off the balance.

As of right now no they will not accept payment and will not work with consumer credit counciling programs. Once it has went to collections, you are not suppose to contact the original debtor. It confusses the situation.

You aren't suppose to contact the original creditor once it goes into collections but the Collection agency will accept payments. They are happy to get any money they can. (they get 50% of what they collect)I used a collection agency for a tenant who wouldn't pay for months who I had to evict(went to court) and I received a couple of small payments until the person ran away and hid again. Both the collection agency and I were glad to get any money possible. Unfortunatly, this will show up on your credit report whether you pay or not........... But it is ALWAYS better to pay if in your future creditors eyes (fico score)