If a credit collection company goes out of business what happens to my debt?

Hopefully, they won't resell the debt to another collection agency....The most likely possibility is that they will and you'll get to be harassed all over again by a new collector.

Sell it to another company for pennies on the dollar.

it is most likely sold to another credit agency at a discount but you still have to pay full price

The right to collect your debt is an asset like any other, so it will go to a successor company.

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