Is it legal to have both the original creditor and collection agency as creditors on my credit report?

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Is it legal to have both the original creditor and collection agency as creditors on my credit report?

My credit report shows a charge off from a credit card company. The collection agency also shows as a creditor as a separate account. Would having both on my report for the same account double the negative impact on my credit score?

Asked on August 22, 2012 under Bankruptcy Law, Illinois

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

Under the laws of all states in this country there is nothing illegal or improper to have the creditor of a debtor and its assignee listed on a debtor's credit report with respect to the same debt. In fact, such is within the custom and practice of the debt collection industry because the designation of such shows an agency relationship between the third party debt collection company and the creditor.


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