It's about freaking time!!!

I knew it was going to take a massive court order to get the credit reporting agencies to do their jobs. Finally there might be progress. A recent judgment against the three major credit bureaus (TransUnion, Equifax, and Experian) requires them to delete all forgiven debts showing on the credit report. This includes accounts that were included in bankruptcy. One of the major problems I faced while working as a paralegal for one of the largest credit repair organizations in the country was in getting these types of accounts deleted. They were included in a bankruptcy and were easy to verify. The bureaus often didn't even bother investigating them since it seems pretty obvious to them that the information is accurate.

BREAKING NEWS!! They have until October 1st to comply with Judge David O. Carter's order to "revamp their systems," writes Jane J. Kim on the Wall Street Journal's finance blog. Now if you're in debt trouble, you can look forward (?) to having either unpaid debts on your credit report, or a bankruptcy filing, but hopefully no longer both at the same time. How is that for progress? All I can say is that it is about freaking time!!