Debt Management Online

I have been contacted by an assigned debt collector who should I pay?

I was recently contacted by NCB Management on behalf of my bank (Household), can I pay the original creditor directly (my online account access is still available and I can make payments online) and send a copy to the collectors showing them I have made a payment?

If a 3rd party collector has the account, you have to pay them.
Is this for a defaulted credit card account? If so: Paying back a defaulted/charged-off credit card will not restore your credit rating..Your credit report will be updated to a “Paid Charge-Off,” which, while slightly better, is still a seriously derogatory item. Per the Fair Credit Reporting Act, a charge-off, whether paid, settled for less or not paid at all, will remain on a consumer’s credit reports for up to 7 years….so you’ll be stuck with damaged credit regardless of what you do.

Whatever the type of default, you’re better off trying to settle for less rather than just sending in payments every month. If you have the money, see if they’d settle for 25% and go from there.
- Never pay a debt collector without first getting a signed settlement agreement on their letterhead stating that the account will be paid in full upon receipt of the agreed-to amount. If you don’t, the debt collectors will come back demanding more money.
- Never give out your checking account/bank routing numbers to debt collectors for making electronic debit payments. Pay only via USPS money order.