Due to an illness, I couldn't pay credit cards, they have closed the accounts. Should I continue now to make payments on them? I saw you on WGN saying if they were written off, don't pay the collection agency, but what about if they just closed them? Thank You!

Terry Says:

OK, you need to deal with each company specifically, and find out exactly what was done — whether the account was closed, and the balance written off — or what?  How do you know the accounts are considered closed?  Have you checked your credit report at www.AnnualCreditReport.com?  If the merchant(s) have already written off the account, your credit is damaged.  And by paying the collection agency, you are not improving your own credit.  But you should be sure that there isn’t a worse-case step by ignoring these demands.  It’s possible they could garnish your wages or place a lien on your home.  To make sure of where you stand, contact that non-profit National Foundation for Credit Counseling.  Call 800-388-2227, which will automatically connect you to the nearest local agency.

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