Hello All, Seems like forever since I posted. Been busy trying to buy a house. Anyway, a question. I know I have read the answer before but can't remember it. I have a discharged BK7. MBNA was included but they still show my TL as charge off. I contacted them and their answer was since the charge off was before the BK and since they sold the account to a CA, they did not have to change their TL to "included in BK". Any advice? I've already disputed this more than half a dozen times with the CRAs. Thanks
MBNA told you the truth.. When your BKO was discharged they no longer owned the account, it was written off as an Uncollectible Debt and sold it to a 3rd party collection agency, what they are reporting is correct, and they are only reporting accurate imformation.. RJ
PLEASE don't take me wrong here. I'm not saying that what you have posted is wrong. Not at all. I'm not a credit bureau expert by any stretch of the imagination and therefore if I tried to argue with you in any way I would most likely end up without a leg to stand on. But there is something in your post that just don't sound right to me. Maybe it's just the way I read it and misunderstood it. I don't know what it is but it just don't sound right. I sincerely hope you don't take offense at my putting it this way. Maybe if you would be so kind as to explain it a bit more in depth or refer me to a section of the law so I can see for myself and learn something here?
Re: Re: MBNA refusing to update TL Sounds like towing the company line to me. I don't buy into that. Too many other OCs have corrected. BTW a very good BK attorney advised me something to the extent of "Screw the CAs. It is the original creditor you must be sure to get listed in the BK paperwork." Although they do not own the account, they still own the TL. If this is true, shouldn't they just make all CAs change the TLs into the name of the CA rather than the OC? Surely there is a better answer to this???
Re: Re: MBNA refusing to update TL Better or not, I'm sure the new bankruptcy law which has now passed the House of Reps and is headed to the Senate for final vote will have all the answers. (LOL)
Re: Re: Re: MBNA refusing to update TL Not at all. I see it as for the better. In my not so humble opinion bankruptcy has never been the right answer for tha average man in the first place. It may very well have been and as of this writing still is a workable solution but just because it works does not mean it is the right answer. It may very well be seen as the right answer until it hits your credit reports and then reality sets in. Especially if one learns that the exact same thing could have been done cheaper and without the stigma attached to it. Most people never learn that so it is seen as a great thing by many. On top of that it is most usually seen as the easy way out which it is in most cases. That which is the easiest is not always the best.
