Credit Report & Bankruptcy
Hello,
I have some questions about what i recently found on my credit report.
Background:
I had very good credit in 2003 but a debt load that was too large to carry after discussing with a credit councellor it was determined that my only real option was to declare bankruptcy.
I went in to bankruptcy on November 26, 2003 and was discharged on September 12, 2004.
When I was discharged I sent copies of the discharge papers to both EQUIFAX and TransUnion requesting that the update their files. I received notice form both that this occurred.
My credit report seems to have a TON of irregularities the most concerning being that many of the creditors from my bankruptcy have reported late payments between December 2003 and August 2004 – the period of my bankruptcy.
Questions
1) How can a creditor from my bankruptcy report late payments when I was unable legally to make payments as a result of the bankruptcy.
2) One creditor reports `activity` on the card in July of 2004 – How do I prove this is not true? I have provided all the bankruptcy papers and EQUIFAX refuses to update this information.
3) I mailed a registered letter Monday April 21 and received a response April 30th – It seems to me that they sent a form letter out and did not even look at the report. What can I do.
4) Finally – where to I go for help with this and where to I find out my legal rights with regards to credit reports and credit reporting?
Thank you in Advance for your assistance
Cheeers,
KL
Unfortunately, there’s no one “to go to” in order to get this problem resolved. The credit bureau takes the position that they are reporting information that has been declosed by thier members and as such, the reporting agency is not responsible for the content. You can decide for yourself whether or not that is a reasonable position.
This particular problem is more common in the general public (ie persons that have not filed for bankruptcy) – there are no statistics published that I am aware of regarding “problems” with the credit bureaus, but they are more common than they should be…
I can suggest three different approaches for you to consider:
1) contact the creditors directly (instead of the credit bureau) and try to get them to report the correct information. This is the “best” solution, but it is also the most difficult and requires the most effort on your part;
2) continue to rely on the credit bureau’s dispute resoltion process – you’ll find the instructions on their website(s); and
3) hire a lawyer and take legal action against the credit bureau.
Sorry I can’t be more helpful – credit bureau problems can be very difficult to resolve.