Robespierre

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.  

 

 

http://www.nytimes.com/2015/05/08/business/dealbook/bank-of-america-and-jpmorgan-chase-agree-to-erase-debts-from-credit-reports-after-bankruptcies.html?emc=edit_th_20150508&nl=todaysheadlines&nlid=43571867&_r=0

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