Legal Question in Credit and Debt Law in Massachusetts

I took out a loan for $2,00 in 2007. Shortly after taking out a loan I was laid off from several jobs over the past few years, making it difficult to pay the loan. I recently made a settlement with the loan company. When I checked my credit score, I discovered that I owed a collection agency $1,500! i am confused as to how I take out a loan from one company and owe another $1,500.

Please Help!


Asked on 8/17/10, 3:42 am

1 Answer from Attorneys
Christopher Vaughn-Martel Charles River Law Partners, LLC

It is very possible that the company who loaned you the money sold the debt to a debt collector. If you would like to schedule a constulation to discuss your situation, please feel free to contact my office.

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Answered on 8/22/10, 5:34 pm


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