Is is legal to sell a bad debt to a collection company and they report the same debt on your credit

I had a credit card I defaulted on and they sold it to a collection company and the collection company put it on my credit report as well as the credit card. company.

Is is legal to sell a bad debt to a collection company and they report the same debt on your credit report?

Most of the posters are correct in saying both the original creditor and the collector can report the account at the same time.

I just wanted to add that if the original creditor sold the account or if the collector is also reporting, then the original creditor %26quot;must%26quot; report the account with a zero balance.

If the original creditor is not reporting with a zero balance then they are violating the FCRA and you have a legal right to dispute the account for that violation.

Is is legal to sell a bad debt to a collection company and they report the same debt on your credit report?

I thought that credit companies bought the debt from the lender and not the borrower. it is legal as far as I know.

Is is legal to sell a bad debt to a collection company and they report the same debt on your credit report?

not only is that legal but sometimes when you file for bankruptcy and are cleared of a debt the bank will sell that to a collection agency and then they put it on your credit report even though you no longer libel for it.

Is is legal to sell a bad debt to a collection company and they report the same debt on your credit report?

yes

Is is legal to sell a bad debt to a collection company and they report the same debt on your credit report?

Why not? You still owe them money, and that need to show on your credit report as part of you default (negative), how you handle the money you owe to lenders. Why do you think lenders look at your credit report to see if they should approve a loan to you or not?

Is is legal to sell a bad debt to a collection company and they report the same debt on your credit report?

It is impossible to get this taken care of. I had the exact same problem and I PAID MINE years ago! I have made phone call after phone call to the new company and the old company and the lawyer who handled the payment and have gotten NO WHERE! I hate to say it but just sit tight until it falls off in 8-10 years. I know it%26#039;s awful but it%26#039;s better the accept it and move on and wait for that wonderful day when it%26#039;s clear than to make yourself sick over it.

Is is legal to sell a bad debt to a collection company and they report the same debt on your credit report?

Yes - the credit card co. will show it as a writeoff. The collection agency will show it as an unpaid debt, which it is.

Is is legal to sell a bad debt to a collection company and they report the same debt on your credit report?

It%26#039;s the same debt and will show that way on your credit report.

Is is legal to sell a bad debt to a collection company and they report the same debt on your credit report?

Actually, you can get one of them deleted off yoru credit report if you let the credit reporting agency know that its a duplicate of the same debt.