If you have an account in collections, your credit could be severely damaged if you do not address the issue with the collection agency. Always keep track of all credit card and loan accounts to make sure you have been making all necessary payments. If you are behind on your payments and you have not been in contact with the appropriate company, you will need to find out if your account has been sent to a collection agency.
View your credit report online. You are allowed to check your credit report once a year for free with the Annual Credit Report website. This site gives you the option of viewing any or all of your credit reports from the three credit bureaus. The information on each credit report may be a little different, so check all three to see if you have any accounts in collections. Go to the section labeled "negative accounts." If there is nothing there, then you most likely don't have any accounts in collections at this time.
Call your credit card and loan companies. If you do not find anything on your credit report and you still think you may have collection accounts, they will be able to inform you of the status of all your accounts. You could also check online to see if your account has been restricted. This is a good indication that you have a collection account and you should contact the appropriate company immediately.
Check through your mail every day. If you have a collection account and the collection agency has not been able to reach you by phone, they will send you something in the mail. Keep all of your mail organized so you do not misplace the letter if it comes. Sift through old mail to see if you received anything regarding your credit card or loan accounts. Keep in mind that the return address may not be that of the company your account is with.