Lvnv
Date: Sun, 12/19/2010 - 11:15
If the credit card company and LVNV both show give a negative report to the credit agenices, does that constitute double jeapordy?
Nope. This is standard reporting for bad debts when they are so
Nope. This is standard reporting for bad debts when they are sold to a collection agency.
The creditor as well as the collection agency, both, will report
The creditor as well as the collection agency, both, will report the negative item to the credit bureaus. The original creditor may have reported the delinquent account first and then had sold off the account to a collection company. The collection agency may have tried collecting the debt from you and reported the item to the credit bureaus. Hence, for you, it was the same account but now the debt has been transferred to a new company. Thus, both of them will report the account to the bureaus.
