Is it "legal" for a credit card company to post something to your CRA as a charge-off, THEN sell it to a collection agency and THEY report it on your credit report also? Do I send validation letters to both? One? How do I handle this?
I've wondered that same thing myself. I would think that the original creditor could only report "Account sold or transferred," but I don't really know.
If the debt has been sold, the original creditor has no right to post it any longer. I would dispute both of them anyway, but the new owner is who should be posting it to your report.
So does that mean that the original creditor would not show up at all on the credit report or that it will show up as a zero balance but still charged off (R9)?.... or possibly even just listed as transferred/sold without the charge off showing. There are so many variables in this hobby
