Question by Grinchgrl: Why are 2 creditors still showing on credit file?
2 creditors included in 1993 personal bankruptcy showing as being closed just now in 2009 on my report, with an added remark of “chapter 7 bankruptcy” and an estimated date of removal of the item from my record 7 years from now. Is this an error on the part of the bureau or the creditor? Should I dispute this?
Answer by CatDad
Sounds like some aggressive, bottom feeder collection agencies have illegally re-aged your accounts.
Per the Fair Credit Reporting Act you have the right to request written validation of negative entries on your credit files. Per this law they must validate the item(s) within 30 days or remove them from your credit file. Mail a letter via certified mail with return receipt to all three credit bureaus (Equifax, TransUnion & Experian). Include a photocopy of your driver’s license and social security card…If you don’t include these, they may write back requesting them, which would slow the process down by several weeks. For each negative item, write a separate letter and simply include the phrase:
Per the Fair Credit Reporting Act, I am requesting written validation that this item is being reported within the allowable time frame as allowed per the Fair Credit Reporting Act. This item was included in a Chapter 7 filing in 1993 and at most this notation can stay for 10 years. Advise why this item is being reported beyond the time frame as allowed per the Fair Credit Reporting Act.
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