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VIPERSL65

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Debt resold to multiple collection agency and reported every time for the same debt
My Credit card debt was charged off by a bank and bought Collector-A, then got resold to Collector-B and C and D and so on. Now, every time the debt is sold, the new collection agency reports it to the bureau and therefore hurting my credit , is this legal?

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Yes, it is legal. However, only one collection account can be shown on your reports for a single debt. Only the current collection company should be shown on your reports, if the other ones are still listed, dispute that with the credit bureaus. Since you are dealing with collection companies, you should do some reading on the FDCPA (fair debt collection practices act) if you haven't done so yet.

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