How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Ask Phillips Esq. Your Own Question

Phillips Esq.
Phillips Esq., Attorney-at-Law
Category: Bankruptcy Law
Satisfied Customers: 12847
Experience:  B.A.; M.B.A.; J.D.
Type Your Bankruptcy Law Question Here...
Phillips Esq. is online now
A new question is answered every 9 seconds

i have filed bankruptcy and it has been discharged. one of

Resolved Question:

i have filed bankruptcy and it has been discharged. one of the creditors was washington mutual. chase bought the customer list (so i am told by chase) after washington mutual went under.
Chase is reporting this account in chase bank name and saying they sold the debt, so it is still reporting a balance and is preventing me from getting my credit back on track.
only 1 reporting agency is allowing this to be reported this was. it would appear that the other 2 main reporting agencies have it right.
my understanding of the law is: only the original creditor can report to the bureau after bankruptcy, and if included in the bankruptcy (chapter 7) must report a zero balance. i have diputed the info with the cra and they say the info is being reported correctly.

The obvious question here is: just exactly what is the law pertaining to proper reporting of the above mentioned situation?
Submitted: 3 years ago.
Category: Bankruptcy Law
Expert:  Phillips Esq. replied 3 years ago.

Thank you for giving me the opportunity to assist you. I encourage you to ask me for clarification, if you are not clear with my Answer.

 

Question: The obvious question here is: just exactly what is the law pertaining to proper reporting of the above mentioned situation?

 

Response: If the debt was listed in your bankruptcy and then you obtained a discharge of your debts, the debt should show zero balance with a notation that it has been discharged in bankruptcy. This is the requirement of Fair Credit Reporting Act.

Customer: replied 3 years ago.

not real clear with your answer. i am not sure you have understood the question as pertaining to the situation i described.

 

does chase have the right to continue to report the info they are reporting. again they are reporting this enrty under chase bank. the way they are reporting this was not included in bankruptcy. however the original creditor was(washington mutual). legally, how should chase report this.. if at all

Expert:  Phillips Esq. replied 3 years ago.

not real clear with your answer. i am not sure you have understood the question as pertaining to the situation i described.

 

does chase have the right to continue to report the info they are reporting. again they are reporting this enrty under chase bank. the way they are reporting this was not included in bankruptcy. however the original creditor was(washington mutual). legally, how should chase report this.. if at all

 

Response: Chase should report it as the same account belonging to WAMU and should report it as being discharged in bankruptcy with zero balance showing on the account. It is irrelevant that Chase now owns the account. What is relevant is that the account was transferred to Chase from WAMU and that the same account was listed in your bankruptcy case and properly discharged. The original creditor should show WAMU on your credit report.

 

Customer: replied 3 years ago.
last clarification. chase says they sold the account to someone else before i filed bankruptcy. so chase bank and the cra are reporting the full balances that were sold with no reference to washington mutual or my bankruptcy. Is this legal reporting, since, as a reminder, the origianl creditor was washington mutual, which was included in bankruptcy and discharged. thank you very much for this help.
Expert:  Phillips Esq. replied 3 years ago.

last clarification. chase says they sold the account to someone else before i filed bankruptcy. so chase bank and the cra are reporting the full balances that were sold with no reference to washington mutual or my bankruptcy. Is this legal reporting, since, as a reminder, the origianl creditor was washington mutual, which was included in bankruptcy and discharged. thank you very much for this help.

 

Response: No, this is not a legal reporting. The fact remains that the original creditor is WAMU. It does not matter how many times the debt is sold, the original creditor remains WAMU and you properly listed the account on your bankruptcy schedules based on the information that you have when you filed for bankruptcy protection, which is the only thing required of you. Whoever Chase sold it to must report the account as discharged in bankruptcy because the creditor can never collect the debt from you, which was properly discharged in your bankruptcy. You may have to sue Chase and the subsequent creditors for improperly reporting the account to the credit bureau.

 

You need to dispute the account once more and this time you would be asked to send a copy of your bankruptcy schedules showing where the account was listed on your Schedule D along with a copy of the Discharge Order.

Phillips Esq., Attorney-at-Law
Category: Bankruptcy Law
Satisfied Customers: 12847
Experience: B.A.; M.B.A.; J.D.
Phillips Esq. and 2 other Bankruptcy Law Specialists are ready to help you

JustAnswer in the News:

 
 
 
Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.
 
 
 

What Customers are Saying:

 
 
 
  • Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises! Gary B. Edmond, OK
< Last | Next >
  • Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises! Gary B. Edmond, OK
  • My Expert was fast and seemed to have the answer to my taser question at the tips of her fingers. Communication was excellent. I left feeling confident in her answer. Eric Redwood City, CA
  • I am very pleased with JustAnswer as a place to go for divorce or criminal law knowledge and insight. Michael Wichita, KS
  • PaulMJD helped me with questions I had regarding an urgent legal matter. His answers were excellent. Three H. Houston, TX
  • Anne was extremely helpful. Her information put me in the right direction for action that kept me legal, possible saving me a ton of money in the future. Thank you again, Anne!! Elaine Atlanta, GA
  • It worked great. I had the facts and I presented them to my ex-landlord and she folded and returned my deposit. The 50 bucks I spent with you solved my problem. Tony Apopka, FL
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C. Freshfield, Liverpool, UK
 
 
 

Meet The Experts:

 
 
 
  • FiveStarLaw

    Attorney

    Satisfied Customers:

    3203
    Bankruptcy Lawyer. Experienced.
< Last | Next >
  • http://ww2.justanswer.com/uploads/FL/FLAandNYLawyer/2012-1-27_14349_3Fotolia25855429M.64x64.jpg FiveStarLaw's Avatar

    FiveStarLaw

    Attorney

    Satisfied Customers:

    3203
    Bankruptcy Lawyer. Experienced.
  • http://ww2.justanswer.com/uploads/TL/tleeders/2012-6-13_204815_TSL1.64x64.jpg Terry L.'s Avatar

    Terry L.

    Attorney

    Satisfied Customers:

    2204
    Better Business Bur 15yrs bankruptcy experience. Chicago Bar
  • http://ww2.justanswer.com/uploads/mnphillips2/2009-03-13_203105_10984459-249293407.jpeg Phillips Esq.'s Avatar

    Phillips Esq.

    Attorney-at-Law

    Satisfied Customers:

    950
    B.A.; M.B.A.; J.D.
  • http://ww2.justanswer.com/uploads/CO/cortrightlaw/2011-12-5_4117_Kevin.64x64.JPG cortrightlaw's Avatar

    cortrightlaw

    Attorney

    Satisfied Customers:

    490
    Attorney practicing Bankruptcy Law including Chapter 7, Chapter 11, Chapter 12, and Chapter 13.
  • http://ww2.justanswer.com/uploads/Jay1968/2006-12-03_004423_JoeRossPhoto.jpg JoeLawyer's Avatar

    JoeLawyer

    Attorney

    Satisfied Customers:

    376
    Attorney in the practice of Bankruptcy Law since 1996
  • http://ww2.justanswer.com/uploads/DY/Dylatess/2012-9-11_1968_BHBTemplePhoto.64x64.jpg dylatess's Avatar

    dylatess

    Attorney

    Satisfied Customers:

    370
    35 plus years of experience specializing in bankruptcy law
  • http://ww2.justanswer.com/uploads/US/USLawAnswers/2012-9-20_23143_20090105211638Headshot3b.64x64.jpg Brent Blanchard's Avatar

    Brent Blanchard

    Bankruptcy Attorney

    Satisfied Customers:

    315
    Twelve years experience in all aspects of debtor & creditor BK.