Have You Recently Been Denied A Bank Account?

If you have recently been denied a Bank account, chances are you are being reported by ChexSystems.  The ChexSystems, Inc. network is comprised of member Financial Institutions that regularly contribute information on mishandled checking and savings accounts to a central location. ChexSystems shares this information among member institutions to help them assess the risk of […]

Personal Financial Information Sold to Third Parties?

Did you Know your Personal Financial Information Can Be Sold by Credit Reporting Agencies? Most consumers have no idea that the major credit reporting agencies, Equifax, Experian, Innvois and Transunion, are selling and sharing their private financial information. Each of the major credit bureaus has over 200 million files. Credit reporting agencies can sell your […]

USE BANKRUPTCY TO REPAIR AND REBUILD YOUR CREDIT!

USE BANKRUPTCY TO REPAIR AND REBUILD YOUR CREDIT! A common myth about filing for Bankruptcy is that it ruins your credit and you can not get credit again or for a very long time. That myth is completely untrue. Generally speaking, people with bad credit actually see their credit scores improve with the filing of […]

Why Does My Credit Report Still Show A Balance After Bankruptcy?

Probably because the creditor still wants their money!  Unless that creditor did not get notice of bankruptcy, reporting a balance is a very power debt collection tool and a popular tool by the debt collection industry to collect debts previously discharged in bankruptcy.  In prior articles, I had written how such acts will subject the […]

I Got My Bankruptcy Discharge, But Still Cant Open A Bank Account.

Debtors frequently complain that they still can not get a new bank account, even though they received their bankruptcy discharge.  This is primarily due to check reporting companies such as ChexSystems, Telecheck, and SCAN.  But with a few simple steps, you can probably get a new bank account in 60 days, and/or, set up FCRA […]

What Should My Credit Report Look Like After Discharge?

Your credit report should generally have no balances and be notated with “Discharged in Bankrutpcy” throughout.  The Bankruptcy Case number, discharge date, and Court location should also be listed.  Stay tuned, more on this blog to be published soon. Written by Michael G. Doan– Michael Doan is a member of the Doan Law Firm, which consists of Chula Vista […]

Can A Bankruptcy Be Expunged From The Credit Report?

Today I got the following email from a prior client: “Hello. I am writing to investigate what I need to do to expunge a bankruptcy from my record. You did ours for us in 2001 (chapter 7) and I would like to remove it…” the questions seems to be coming up a lot lately, especially […]

Reporting a Balance On a Credit Report After Bankruptcy Discharge Part II

Generally, reporting a balance influences the debt to credit ratio, which typically amounts to 1/3 of what your credit score is based upon. While many creditors try to argue that they are simply reporting truthful information of what they are owed and what remains on their books, they entirely miss the boat.