Who do I pay debt of to ?

Vxrlad

Hello
I have recently come into some money and now want to do the right thing by paying off the debts I have currently have but the one big question is who do I pay the money to ???
Obviously some of the debts have been passed to debt collection agency's for example scot call and moorcroft.Personally I would like to pay the company direct that I actually owe the money to and not the debt collection agency.
Can anyone put some light on what I should do ???

fatbelly

You might as well pay the DCA if you're not arguing with anything.

That way, they'll be off your case instantly

Vxrlad

Ok and who will update my credit file ??? For one debt I have received letters from 3 different debt company's so don't know who to pay

vodkacokebloke

If you are paying the debts off in full then this wont apply, but if you are hoping to offer part settlements then it might be a good thing that you are dealing with DCAs as they will likely have been sold the debts for a fraction of the face value and more likely to accept less.

Vxrlad

I will be paying them of in full so will be paying some companies direct and obviously the rest through the debt collection companies so I take it all accounts on my credit report will say settled ?? Just want to sort it and start getting my finances back on track to build my credit again

fatbelly

Vxrlad wrote: »

Ok and who will update my credit file ??? For one debt I have received letters from 3 different debt company's so don't know who to pay

The original creditor retains responsibility to update your file unless it has actually been sold to a dca.

If it hasn't been sold, then you can certainly offer to pay the original creditor but (1) you may find they want you to pay their collector anyway and (2) you are then relying on them to tell the collector that the debt has been paid.