Strange situation. Need advice

[Anonymous]

Ok. Long story short, I was a guarantor (sp) on an apartment for my son. he only lived there for 2 weeks but kept paying rent. In January, they did not cash his rent check and he tried calling, never answered or received a call back. Stopped paying. I know it was not the best idea. Ended up being turned over to CA who is well known on here for not being the best to deal with. I have never talked to them and they call about once a month. Here is the kicker, they HAVE NOT reported to CRA's. My credit is really starting to come along from where it was and I really want to take care of this. I do not know total amount but I believe it to be in the 3500-4000 range. I can take care of it now. The complex was sold or transferred to another prop mgmt group as well, when a complex is sold, do they sell their outstanding debt with it as well? Should I try to find out and pay original creditor or contact CA? It has been about a year and a half. So still within SOL.

[Anonymous]

In most situations when a business is sold you purchase all of their assets as well as debts. If they have not reported, I would work with the collection agency to settle out before they start reporting on your credit, because at that point it gets more complicated to get it removed. 

[RobertEG]

I agree.

Since the debt is legit, I would recommend sending them a pay for not reporitng offer.

[mamatried]

Agree with the others. Try to work out a deal to pay to not report, but make sure you have the $$$ ready to seal the deal once you start talking with them otherwise you may just cause them to start reporting. It is highly likely the debt was sold off separately or as part of the liquidation. That's usually a part of the process. That being said, the new "owner" of the debt, may have paid less for it so you may have some room to negotiate.