Post-Bankruptcy Inaccuracies
There is a systematic problem with inaccuracies in post-bankruptcy credit reporting. After debts are discharged, they are supposed to be reported as “included in bankruptcy,” with a zero balance, which mitigates the negative impact on a credit score. But all too often, creditors continue to report discharged debt as still owed, which dramatically punishes a consumer’s credit score. The CRAs have been too lenient in permitting this, and there has been little in the way of investigation or enforcement from U.S. banking agencies.
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