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BK on Credit Report is wrong

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tjz35

Guest
I am from PA. My Chapter 7 BK is showing on my report from 1997. However, both the assets and liabilities listed show $0. Now, I know I didn't file a BK while listing $0 in liabilities.

Transunion keeps telling me that they don't have to list that portion of the entry and that $0 is Ok even though it's not what I filed during the BK.

I've disputed this entry asking them to remove it due to less than 100% accuracy but they keep verifying it.

What is the law? Doesn't the FCRA say that all info must be 100% accurate and COMPLETE? If that's the case, shouldn't this be removed if it isn't accurate and complete?
 


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JasonRT

Guest
Dear tjz35,

This item belongs in the bankruptcy forum which is why it didn't receive an answer earlier.

They are not required to report your actual assets and liabilities. Only that the case existed. $0 is a default for courts that do not provide any information regarding the asset and liabilities dollar amounts.

Your potential creditors have a right to know that you filed for bankruptcy and your previous creditors lost their money. This way they won't make the mistake of lending to you :).

Good luck!


[email protected]
 
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tjz35

Guest
You speak like I am some kind of second-rate citizen ("that way they won't make the mistake of lending to you").

My BK was due to the sudden death of my mother whom had no life insurance. The sudden $8K funeral/burila costs put me over the edge. Since that time, I've had impeccable credit (as I did prior to my mother's death).

Being through what I've been through, I'm a better credit risk than most people are.
 
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JasonRT

Guest
Dear tjz35,

You must have taken my response the wrong way. I think that people that shaft their creditors through bankruptcy and then want to conceal that fact from future creditors are third or fourth rate citizens - certainly not second rate!

I'm sure it has been hard having all of your unsecured debts discharged to maintain such wonderful credit since the bankruptcy. Good work!

I don't think someone who has filed for bankruptcy is a very good credit risk. If I pulled a copy of your liabilities schedule I'm sure I could find the name of some banks that would agree with me on this.


[email protected]
 
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tjz35

Guest
I'm not trying to conceal anything. I'm trying to force the CRAs to follow the laws that were enacted. I've had at least a dozen accounts that weren't mine show up on my reports and getting them off was a nightmare.

The law states that entries must be 100% accurate. If they are not, they must be corrected or deleted. I didn't make the laws.

I thought this was a forum for legal advice - not moral lecturing.
 
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JasonRT

Guest
Dear tjz,

The fact is - AGAIN - that the entry is accurate. It accurately reflects your case information and it belongs on your credit report, and it will stay on your credit report. If you want to include the amount of debt discharged send a copy of the bankruptcy discharge to the credit bureau and they will update their records to include just how much you were able to get away with. You have no right to have the entry removed.

This *IS* a forum for legal advice. If I feel a lecture is in order, you will receive that too, free of charge.


[email protected]
 

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