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OC and CA both reporting: is this duplicate reporting?


ElorraM
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I have a question. If an original creditor assigns your account to a collection agency, can these both be reported on your credit report (one from the collection agency and one from the original creditor)? Isn’t that double reporting? How does this work?

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A thought just occured to me. If the OC can list the account as sold, or assigned to another lender, then do they have to zero the balance out? Because if that tradeline has a balance and then the collection account has a balance, it looks like you owe more than you really do. Anyone know?

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A thought just occured to me. If the OC can list the account as sold, or assigned to another lender, then do they have to zero the balance out? Because if that tradeline has a balance and then the collection account has a balance, it looks like you owe more than you really do. Anyone know?

That should as zero I believe.

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If the account is sold, the OC must report as a Zero Balance, show the High, and make note the account was sold or transferred.

If the account is assigned, they may report the balance owed at time of CO, along with other normal information they report. They will also note as assigned.

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