credit report and collection accounts: "Double jeopardy" or "double entry reporting"

What happens when an original creditor and collection agency both report the same debt on your credit report? 

Although there is no technical term, when an original creditor and collector both report you to the credit bureaus for the same debt, this usually referred to as double entry credit reporting, double jeopardy reporting, or double entries on your credit report.  Sometimes, there can even be multiple collection accounts for the same debt.  

Original creditors and collection agencies are generally permitted to report separate tradelines so long as the reporting is accurate and complete.  Sometimes collection agencies will adjust the balance or the date of the delinquency to make this look like a new debt.  This can happen when consumers have recently filed bankruptcy and an unscrupulous creditor continues collection efforts after bankruptcy.  Learn what you can do when a collector attempts to collect a debt that was discharged in bankruptcy.

You should review your credit report to ensure that old collection accounts do not show up as active or with incorrect balances, or pay status information.  Inaccurate collection accounts can harm your credit by making it appear like you have more debt or collection accounts than you actually have.  When a collection agency sells, transfers, or no longer services the account, the collection agency should delete the tradeline or update the tradeline by stating it is closed or has been transferred.   

You have the right to dispute credit report errors with the credit reporting agencies and other credit bureaus.  If the credit bureaus refuse to correct credit report errors, the FCRA permits you to file a lawsuit against the credit bureaus.

You should speak to an experienced credit lawyer if you believe your credit report contains errors, or has double entries that are inaccurate or misleading.  Our Michigan credit lawyers can help you dispute credit report errors.  Please contact us by using our contact form at the bottom of our website.