Banks Agree to Take Canceled Debts Off Credit Reports

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I posted the quote below under a separate topic, but;


From NYTimes 5-8-15:


Bank of America and Chase will delete lines from CR after bankruptcy filings, which they should have been doing anyway.   Link below.


But also from the article:


Bank of America promised to go further, agreeing to fundamentally change the way the bank reports all the stale debts that are sold to financial firms. For all credit-card debts sold since May 2007, court records show, the bank will remove any marks on consumers’ credit reports. That way, a lawyer said, “should a previously sold credit card account go through a bankruptcy discharge,” the mark will already be gone.


This says they will delete anything after May 2007 that was sold to a junk debt buyer.


I am going to be monitoring my reports to see how this plays out - I have an OC line with them for which the JDB line was deleted after I sued.

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