accts in bankruptcy

Anonymous — Thu, 01 Apr 2010 21:46:13 GMT

What is the legal law for a creditor to be able to report recently on an account that was included in bankruptcy? Example: Target acct. is being reported as of this month zero balance but included in the bankruptcy from 4 years ago. It says it is scheduled to be reported on until 2012. Isn't there a statue of limitation for how long they can report RECENT on a closed, zero, bankrupt account? Is it the last date of activity? Them reporting recently has to be affecting the score even a little??

Re: accts in bankruptcy

Anonymous — Fri, 02 Apr 2010 22:46:28 GMT

@Anonymous wrote:
What is the legal law for a creditor to be able to report recently on an account that was included in bankruptcy? Example: Target acct. is being reported as of this month zero balance but included in the bankruptcy from 4 years ago. It says it is scheduled to be reported on until 2012. Isn't there a statue of limitation for how long they can report RECENT on a closed, zero, bankrupt account? Is it the last date of activity? Them reporting recently has to be affecting the score even a little??

Accounts included in a BK fall off from their individual DoFD.

What hurt your score is the fact they never reported Target as included in a BK before this month. And you are correct, it updated to make it look recent and dinged you.

But, there is no time line in which a CA has to report to the CRA. As long as they do it before the CRTP expires they can report at any time. CRTP is 7 - 7.5 years from the DoFD.

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accts in bankruptcy

Re: accts in bankruptcy