How to Know That a Debt Buyer Owns Your Account

When an account is delinquent, it is normally sent to a collection agency that will attempt to collect the past due amount. If it can't collect, the debt is usually charged off. Sometimes, during this process, the debt may be sold to another company that can continue to try to collect on it. Normally, the debtor will be notified by mail of the change but, in many cases, the company may have an old address and be unable to reach him.

Instructions

1

Pull your most recent credit report. The best way to find out who owns your debt is by looking at your credit report. You are allowed one free report from each credit reporting agency per year. You can get all of these for free by visiting the Annual Credit Report website as listed in the Resource section.

2

Find your delinquent accounts. Your credit report is divided into sections. Your positive credit accounts are listed in one section and the negative accounts in another. Locate the negative accounts.

3

Find the contact information for the creditor. Each listing will include the original amount of the debt and the current amount. This amount is usually higher to account for collections fees and interest. Each listing will also include the name, address and phone number of the company that owns the account. You can get in touch with them to make payment arrangements this way. Just make sure to make a note of your account number. You can also dispute inaccurate credit listings right on the credit reporting agency website.