Will my account report twice?

[workingirl]

If a credit card company sent my account to a collection agency will both show on my credit report?

[calgaryjenhere]

Hi, yes they will both show. The credit card company will show what your credit limit was, your balance, how many times you were late on payments in the past, and how many months over due the payment was before being sent to collections.The collection agency will report when it received the file, how much is owing, if and when it was paid and if there is a balance still or if it was paid off entirely, and the date it was paid off.It is a good idea to pay it off ASAP because it atleast demonstrates that you care about your debts and are willing to look after them.

[cbowles05]

They probably will but they are not supposed to. The Fair Credit Reporting Act states that a bad debt can only be listed once on your credit report. The credit card agency will show it as a charge off. The collection agency is not allowed to report it. However when you do pay off the debt make sure that the credit card agency updates your file to say that it was paid.