OOPS! You Aren’t Bankrupt?

by DeLadurantey Law Office, LLC on February 24, 2014

OopsFifth Third Bank, based out of Cincinnati, has notified thousands of their credit card customers that it inadvertently reported to the credit reporting bureaus that the customers had filed for bankruptcy.

The Bank assured the customers that the mistake had been fixed and their credit scores shouldn’t be affected, but the Bank would be working with its customers to resolve any issues.

Apparently, the bank was making a “systems change” that resulted in the erroneous bankruptcy reports. The credit reporting bureaus were immediately notified. Unfortunately for victims of the erroneous bankruptcy reports, the credit agencies do not decide if a consumer qualifies for a loan – they only maintain the history of their credit activity. A bankruptcy filing noted on your credit report could be devastating to your credit score. And, in an economy that is based on credit, this can be devastating to you.

A low credit score impacts your ability to obtain a loan, to buy a house or to enter leases. It can also result in you having to paying higher insurance premiums. The longer the erroneous bankruptcy notation is on the credit report, the more damage it can cause. Thus, it is important for victims of the Third Fifth Bank mistake to take the Bank’s word that everything has been corrected. It is important to review your credit report thoroughly.

If you are the victim of erroneous credit reporting and the creditor fails to correct the error or you suffer damages as a result of the mistake, let us help you get the relief and compensation you deserve.

If you would like a down-to-earth approach and a lawyer who will listen carefully to all your questions and concern, call DeLadurantey Law Office, LLC,at (414) 377-0518.  We serve clients primarily in the areas of Chapter 7 and Chapter 13 bankruptcies, debt negotiations and defending foreclosure actions. If you live in the area of Milwaukee, Wisconsin, call us for the debt relief assistance you need. Visit our web site and like us on Facebook.

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