Can a creditor report a balance to a CRA if the creditor sold the debt to a collector? What are the regulations and FTC opinions? What are the credit reporting rules regarding debts referred to a collector but still owned by the creditor? If a collector returns the account to the creditor as not collectable, may the collector's listing on a consumer report remain? Can more than one collector for the same account appear on a credit report?
If an original creditor sold an account to a ca, the credit report must read, Account sold or transferred and the balances must be all zeroes. As far as both collector and creditor reporting. I have had creditors report and then a ca report as well and nothing was updated on the creditor end. After many disputes I finally got the creditor updated and eventually deleted because it was a duplicate account. When I first disputed it the cra came back with some crap like "creditors often open more than 1 account for customers" which had absolutely nothing to do with the matter at hand.
