What can be done to you if a debt goes into collection?

Answer

Find out who the collection agency is, if you don't know, and pay the debt off immediately. As soon as the debt is payed get it cleared from your credit report.

If you debt is business to business, then plays different rules compared to consumer debt, laws and rules applied to debtor and protect also the business that place the account to a commercial collection agency, if you have a lawyer ask him to talk to the collectors if not, talk to them, explain your situation and offer work with them to pay off the debt