Do you have to pay a debt if it has been sold?

Understanding what changes when your debt is sold — and what doesn't — can help you protect your finances. Andrii Yalanskyi/Getty Images

When money is tight, the last thing most borrowers want is for their debt problems to become more difficult to deal with. That's exactly what happens when a past-due account gets sold , though, which is a common occurrence in terms of how lenders handle delinquent debts. One day, the statements come from your original lender. The next day, an entirely different company is demanding payment. And with debt sales rising amid elevated delinquencies , more borrowers are encountering this scenario for the first time.

This type of issue can also be tough to navigate . Many borrowers in this situation find themselves unsure of whether they're stil