Hi everyone,
I've been going through a rough time over the past year and haven't been able to keep up with the loan I took out.
Long story short, my creditor has sold the debt to someone else, and I haven't been contacted by the new owner yet. I'm not in a position to pay the full amount, or even half of it, but I'm open to negotiating since I want to avoid legal issues.
I have a few questions:
- Should I contact the new creditor first, or wait for them to reach out to me?
- Once I negotiate an amount with the debt collector, how can I ensure that I don't end up with two negative records on my credit history (one from the original creditor and one from the new buyer)?
- I initially offered the original creditor $5,000 in three payments, but they didn't respond and sold my account instead. I wonder if the debt collector will accept this.
I appreciate any tips or advice, as I've never dealt with a debt collector before.
I am currently rebuilding my credit score after a Chapter 7 bankruptcy in 2018.
Current credit score: 610 and it will drop again once the new buyer shows up on my report. Earlier this week the account was marked as sold with $0 balance.
Thank you.
