Collection Agency

What is the name of your state? Massachusetts
When I turned 18 and was going to college full time which was about 2 Years ago, I gota Visa card in the mail. I was never really taught about credit cards and i never made a payment untill recentlly (July 02) I Have been sending 100 dollars a month to a collection agency Named the NorthLand Group. I got my balance down and they were offering a settelment of around 700 dollars.... Then yesterday i get another Bill In the mailfrom another collection agency(Capital Management Serv) saying i owe them 1230 dollars and they are offering me a settelment of around 900 dollars.All they would say was they bought the account and it was intrest. Im Not the brightest bulb but when you are making payments and trying to make amends with one comp how in the world can they just sell it to another??????

[JETX]

You have a couple of problems here....

1) You need to find out which collection agent is authorized to collect the judgment, if either. Send a 'validation letter' to BOTH claimed collection agents. Send by certified RRR. For sample letters, go to: [url]http://www.creditinfocenter.com/forms/[/url]
Also, they have some great information on the process at: [url]http://www.creditinfocenter.com/rebuild/debt_validation.shtml[/url]

2) Then, once you have determined who the rightful creditor (or agent) is and the amount that they claim you owe, send them the proof of the payments you have made (I assume that you have kept copies of payments, records, etc.).

3) Finally, once you have confirmed who and how much, try to negotiate a settlement with the correct party.

As for your question, "how in the world can they just sell it to another?", it is done but not often. The reason is that the creditor only wants his money.... and as long as he is getting paid, the creditor will usually not transfer that debt to another. The fact that he has in this case, could mean that YOUR payments are not getting to the debt owner!! Which is even more reason for you to get your records!!