Consumer Credit Counseling Services is one of the few legitmate debt counselors out there. They have a good post on Life After Bankruptcy that you can access here.
One of the things they mention is your credit report after bankruptcy. Debts that are discharged in banrkuptcy must be reported on the credit report as "$0" in the balance column and they are allowed to put "Discharged in Bankruptcy" in the notes column. If creditors are continuing to report a balance, that could be a violation of the Fair Credit Reporting Act. A nationwide firm called the
National Consumer Bankruptcy Litigation Center is attempting to rectify this problem by bringing suits all over the country for violation of the discharge injunction by these lenders for failing to report a $0 balance.
Friday, April 04, 2008
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment