When repaying “old debts,” those more than one year old, do you pay the original lender or collection agency? Will both report repayment to credit bureaus?
Barbara

Killeen, Texas

Barbara,

You should communicate with both. Make sure the collection agency is legit — that it’s actually someone the original lender handed your debt over to. After you’ve verified the players, you want to deal with the collection agency — it’s easier. Make sure you get everything in writing. Most of the time, they will report it to the credit bureaus.

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