Q: If a debt has gone to a collection agency, is it possible for the original debt holder to call it back?

If the debtor is able to present full payment to the original debt holder, can this be incentive for the debt holder to call the debt back from the collection agency?

A: Once a debt has been sold to a collection agency, the original debt holder typically cannot get it back.

What happens is that the collection agency purchases the debt for cents on the dollar. The collection agency then turns around and can ask you for whatever they want in repayment. You then owe them whatever they’re asking.

If you have the cash to make good on your debt, go to the collection agency and negotiate a payment that includes the removal of the negative information from your credit report. Be sure to get it in writing.