Hello All-
I'm new to these forums, but was referred to your site.

Long story short, I have a large bill from a divorce attorney. It was sent to collection, which I have had contact with the collection agency and have made small payments, all I could afford. Anyway, now this debt has been sold to another collection agency that said that this debt will be added to my credit report and needs to be paid in full otherwise, it will hurt my credit report. I do not have the money needed to settle and if it is put on my credit report, I will not be able to obtain any kind of loan to pay it. They agreed to settle on 50% but I still cannot come up with the funds at this time.

I have heard that collection agencies will buy the debt and try to get funds, but I heard that sometimes it's after it's too late to collect. Does anyone know the limitations on this? I've read that once you make a payment, they can add it to the credit report, so I afraid to make a payment to them until I know the answer.

Thanks-