Reply #15: This case is a little weird in that it should have been handled without having to pay Capital One.

[Kingshakabobo]

I agree the credit reporting agencies and Capitol One, and all the rest, are responsible for maintaining inaccurate information in the reports.....and someone needs to make it stop. In that regard, I'm happy for all the lawsuits it takes to hold the credit bureaus and lenders accountable. I hope the borrowers clean their clocks.

I have a 10 year old credit card PAID debt that still shows as a balance in my reports. It was originally a First USA account - the goddamn thing has been sold so many times it has made it's way all the way back to my current bank where I do all my banking. MY bank is still reporting a balance but they don't have enough records to clear the account or give me any information :banghead: I haven't disputed the account because I know if I did it would re-appear six months later - it's not derogatory so it isn't worth the hassle.

It just seems strange that the mortgage company couldn't clear this up prior to closing. I get the feeling they were dealing with some 800 number mortgage service person that was either too lazy or too stupid to help these borrowers out. This is the level of service people receive when they deal with on-line/800 number mortgage companies.

In case this comes up for any DUers:

I can think of several different ways to prove, without much effort, a debt has been discharged in bankruptcy. It behooves people that go through a major legal proceeding such as bankruptcy to keep their documents - INCLUDING the schedule of discharged debts that SHOULD have settled the matter for the mortgage company. Secondly, they should have been able to obtain a copy from their attorney. Thirdly, the mortgage company COULD have and SHOULD have received a copy, with about ten minutes of work, by downloading the PUBLIC bankruptcy documents on-line from the federal P.A.C.E.R. website for 8 cents per page. Fourthly, the mortgage company's credit reporting agency could have investigated the claims and made the adjustment in 24 to 48 hours.


If you need your bankruptcy papers, you can go here and download for about 8 cents a page. A report will cost you 3 or 4 dollars.

http://pacer.psc.uscourts.gov/