General Credit Topics

[codeman5022]

Today I tried to open a checking account with my gf and was not able to due to a charged off checking account which was charged off over 2 years ago. The bank and the the collection agency they turned it over to has made no attempt to ever collect on this and it has never been reported to the cb's but has been reported to chexsystems. I filed bankrtupcy recently and it has already been discharged obviously this debt was not included because I had no clue about it. So my question to all of you is why was this not reported to the cb's and what should I do about it? Thank you in advance.

[IOBA]

Just luck that it didn't get reported to the CB.

If you know who the OC is, contact them about paying off the debt directly.   (If they refuse, then go to the CA.)   Then ask them to update ChexSystems.   At the very least, get a statement from the OC or the CA (whomever you end up paying) that the debt has been paid in full.

[codeman5022]

So the fact that I filed bankruptcy does not help me in this situation?

[IOBA]

I am not an expert on BK.    My understanding is if you did not include that debt in your BK filings, you are liable for the debt.

[RobertEG]

I would speculate that the bank probably does not have a reporting agreement with the CRAs.  Establishing a credit reporting agreement with the CRAs costs the party money and requires their financial offices to have knowledge of the Metro 2 coding and reporting procedures, which is required by the CRAs.

Many parties simply choose not to participate in regular credit reporting.