http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Debt-in-accounts/m-p/1695958#M217543 <p>Reporting of a $0 debt balance by a creditor does not mean there is no longer a debt to pay.</p><p>It usually means that they no longer own the debt, and thus there is no debt owed to them.  If they sell a debt, they are required to timely update its reporting so as to maintain its accuracy.  However, the debt itself is still out there until paid.</p><p> </p><p>There are often times when your CR will not show the amount of an unpaid debt.  The party who purchased the debt can report at any time.</p><p>The amount reported by the debt collector will thus reflect both the amount they are authorized to collect and the amount of debt owed to them.</p><p> </p> Mon, 12 Nov 2012 19:45:05 GMT RobertEG 2012-11-12T19:45:05Z http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Debt-in-accounts/m-p/1695814#M217518 <p>So I pulled my credit report yesterday and I have 8 collections (5 of which are medical), 1 should fall off this coming march, the other 2 Ipaid to delete. Now Im confused cause I have 3 accounts that are repoting bad debt and a $0 balance on them. They're not  in collections, but WILL they be sent to collectons? They have not reported since January 2012. What should I do? Pay them off?</p> Mon, 12 Nov 2012 18:54:15 GMT http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Debt-in-accounts/m-p/1695814#M217518 jjcor 2012-11-12T18:54:15Z http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Debt-in-accounts/m-p/1695942#M217539 <p>If they are reporting a $0 balance, then there's nothing to pay.  Who's posting to your CR?</p> Mon, 12 Nov 2012 19:38:25 GMT http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Debt-in-accounts/m-p/1695942#M217539 Shogun 2012-11-12T19:38:25Z http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Debt-in-accounts/m-p/1695958#M217543 <p>Reporting of a $0 debt balance by a creditor does not mean there is no longer a debt to pay.</p><p>It usually means that they no longer own the debt, and thus there is no debt owed to them.  If they sell a debt, they are required to timely update its reporting so as to maintain its accuracy.  However, the debt itself is still out there until paid.</p><p> </p><p>There are often times when your CR will not show the amount of an unpaid debt.  The party who purchased the debt can report at any time.</p><p>The amount reported by the debt collector will thus reflect both the amount they are authorized to collect and the amount of debt owed to them.</p><p> </p> Mon, 12 Nov 2012 19:45:05 GMT http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Debt-in-accounts/m-p/1695958#M217543 RobertEG 2012-11-12T19:45:05Z http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Debt-in-accounts/m-p/1695974#M217548 <p>I agree with you totally on that one Robert.  I was referencing that the creditor posting $0 no longer has the debt.   I should have continued on with the rest of the post.  Thank you! </p> Mon, 12 Nov 2012 19:48:05 GMT http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Debt-in-accounts/m-p/1695974#M217548 Shogun 2012-11-12T19:48:05Z http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Debt-in-accounts/m-p/1696038#M217557 Should I contact the company (which is a check advance place that I got in 2006) to see who they sold it too? And pay it off before it hits collections? Mon, 12 Nov 2012 20:21:06 GMT http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Debt-in-accounts/m-p/1696038#M217557 jjcor 2012-11-12T20:21:06Z