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Need atty advice re: IIB acct with balance/bank refuses to..


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Discharged BK 7 in May, decided not to keep the car and called the bank to pick it up after the discharge.

On my CR it is reporting as Involuntary repo with a balance. Sent a letter to update the report correctly and disputed with CRA. Disputes came back verified and bank says they are reporting correctly. Sent another letter to CFO of bank advising them of their errors and the continued collection by its reporting. They called me and said they sent it to their legal department.

Today received letter from their attorneys and this is what they say:

"Although XX Bank believes the information reported is accurate, it is agreeable to making a revision to show the possession as a voluntary repossession and that the account was included in your bankruptcy case. IT is not, however prepared to say that there is a zero balance owed. There is a balance still remaining on the account, although you are not legally obligated to pay it as a consequence of your bankruptcy discharge. Furthermore, XX Bank will not be taking any efforts to collect this account. It would be inaccurate for XX Bank to report that there is a $0 balance on the account or that the account has been paid. I hope this will satisfy your concerns."

So can someone point me in the right direction regarding IIB accounts and how they are legally to be reported? IE- FTC Opinions, etc.

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Found what I was looking for by a posted at CB:

FTC Office Staff Commentary Section 607 item 6 and the case of Learn v. Credit Bureau 664 F. Supp. 962 rved w/o opinion 838 F. 2d 461

6. Content of Report

A consumer report need not be tailored to the user's needs. It may contain any information that is complete, accurate, and not obsolete on the consumer who is the subject of the report. A consumer report may include an account that was discharged in bankruptcy (as well as the bankruptcy itself), as long as it reports a zero balance due to reflect the fact that the consumer is no longer liable for the discharged debt. A consumer report may include a list of recipients of reports on the consumer who is the subject of the report.

Oh happy DAY!! I can now file suit with confidence.

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