Orginal creditor reports as sold, but debt purchaser isn't on my credit report.

[Anonymous]

I have an account listed on my credit report from Bank of America. It is for a debt of $682. It is listed under my closed accounts. The account status is 'Collection' and the comments are "LAST REPORTED DELINQUENCIES: 11/2011=R9,10/2011=R5,09/2011=R5 CHARGED OFF ACCOUNT ACCOUNT TRANSFERRED OR SOLD".

I contacted BoA to attempt to settle with a PFD, but they stated they do not own the account anymore. It has been sold to Square 2 Financial, but Square 2 Financial is not listed on my credit report. 

My question, would it help my credit to settle with Square 2? Will that change the status of my BoA entry? The BoA rep said they would be notified by Square 2 if I paid and would change their status to 'paid in full', does this sound correct? 

BoA sold the account in 2013, so I've got quite a while until it's not longer listed.

[Anonymous]

It would definitely be beneficial to contact Square 2 and settle the debt before they report is as a collection. If you don't you risk getting two black marks against you for this debt.

[cartwrna]

Is BoA listing the amount owed as $0? If they sold it they are required to update it to that as well. As NormanFH said contact them ASAP if they aren't reporting, otherwise you run the risk of having a double entry. One for OC and one for CA.

[Anonymous]

Thanks everyone. I will contact them today.