I just picked this up it's an old ruling but i was wondering if it's still valid. Quote one of the primary purposes of the bankruptcy act is to give debtors a new opportunity in life and a clear field for future effort unhampered by the pressure and discouragement of preexisting debt.Quote Now i'm not an attorney but i understand that this should mean that prior to bankrupcty all debts should be erased and not reported to cra's and if on taken off.correct me if im wrong as i been in the pass.would this be a viable dispute to creditors.this quote was was a surpeme court ruling however i didn't get the case/
I think it means given a clean slate as in debts are wiped out. The FCRA allows reporting of bankruptcies, in fact they are items that stay on your permanent record and can be reported forever under certain circumstances. You get a clean slate by having the debts wiped out, not the reporting. Creditors should be able to know if you've filed BK or not. And, you'd have to have the whole case to see exactly what was being discussed. A small quote like that, out of context, absent the case and ruling, wouldn't really do you any good. You'd need to know the background of the case.
I understand about the bk staying on,and yes having a bit of information is misleading and i was trying to find the case.however i still think by them not being able to report the credit reporting before the bk.would wipe out the debt before the bk,so i thought if anyone knew it would be you.it was just a thought.i use the wag method
I filed bankruptcy in 2004. The accounts that I included all have the comment "discharged in Bankruptcy", but will fall off my CR in 2011 - 7 years. However the Public Information or whatever you call it that I filed will stay on there until 2014.
Most of mine say discharged in bankrupcty there are a couple which still report.I have disputed them and they come back as still open.My ongoing war with wama/pro.and arrow financial.i'm in the process of redisputing them again.i may have to nutcase them.
