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Capital One Bank being Sued Over Post-Bankruptcy False Credit Reporting
James Krider was a responsible individual who paid his bills, but when life happened he was forced into filing bankruptcy. Willing to live with the bankruptcy notation on his credit report for 10 years, he was not aware that one credit card company was still reporting his discharged credit accounts as delinquent.
Mr. Krider had three credit card accounts with Capital One Bank. When he notified Capital One of what he thought was an oversight, he was informed by not only Capital One but from the three reporting agencies that "it has a perfect right to credit report these accounts as delinquent even though each has been discharged in bankruptcy".
Capital One is not the only company "pushing the envelope" on reporting discharged debts to credit agencies. The hope is that consumers who have been through bankruptcy will pay these debts either because they are not aware of the effect of the bankruptcy discharge or they are simply under a lot of pressure to rebuild their credit.
The lawsuit, Krider vs. Capital One Bank, et al was filed late 2007 in California, with a jury trial set in February 2009.
You can read the entire article at: http://news.yahoo.com/s/prweb/20080326/bs_prweb/prweb797564_1.
Chandra
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