BOA and other banks forced to erase debts from bankruptcy !!!!!

[SRQ]

OMG! Zombie debt still being reported even after bankruptcy will be deleted by these banks: BOA, CitiGroup, Synchrony Financial, GE Retail and J.P. Morgan Chase. Of course, this is not from the goodness of their cold hearts, but rather because they were facing mounting pressure from lawsuits.

"Bank of America promised to go further, agreeing to fundamentally change the way the bank reports all the stale debts that are sold to financial firms. For all credit-card debts sold since May 2007, court records show, the bank will remove any marks on consumers’ credit reports. That way, a lawyer said, “should a previously sold credit card account go through a bankruptcy discharge,” the mark will already be gone."

Here's a link to the article:

http://www.nytimes.com/2015/05/08/business/dealbook/bank-of-america-and-jpmorgan-chase-agree-to-erase-debts-from-credit-reports-after-bankruptcies.html?smid=fb-nytimes&smtyp=cur&bicmp=AD&bicmlukp=WT.mc_id&bicmst=1409232722000&bicmet=1419773522000

[tweak]

https://creditboards.com/forums/index.php?showtopic=543631

[RussInGotham]

https://creditboards.com/forums/index.php?showtopic=543631

[SRQ]

crap - i was late to the party. i even did a search before I posted.

 

ICANHASMUNY rocks it that's for sure.

[backtobusiness]

HSBC bank should also be investigated.