I had acredit card which reached charge-off status, resulting in an approx 80 point reduction in my credit score. The debt was sold to a collection agency, which reported it to the CRA's, and my scores dropped another 60-80 points, for the same debt. How is this legal? It seems like this is a case of double indemnity wherein I am being charged twice for the same debt. 

Asked in Credit Reports - 123 days ago

Tags: Double reporting 

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