Chase Offering to Delete all 3 BK Tradelines

[malf1204]

I file CH7 on 03/14/2011 discharged 07/06/2011. Experian is showing almost all of my accounts as 30-60-90 days then charge-off all after date of filing (I never had any lates or co prior to filing). I disputed--confirmed. Sent letters-nothing. I filed a small claims suit against Chase and Experian for violation of the Maryland Consumer Protection Laws for reporting incorrect information on my credit report. They both hired high-power attorneys who promptly tried to get the case transfered to Federal court. Denied because I cited Maryland statutes not FCRA. Then they asked for continuences because the court date is near Christmas. I objected and the continuence was denied. Chase is now offering to refund my filing fee($48.00) and delete all three tradelines from all the reports if I drop the case against them. My question is is it better to have the TL deleted or correct to discharged/never late?

[LadyInTheRed]

I don't know the answer to your question. But, assuming you can prove that you were not deliqunet prior to filing your BK, I'd hold out for a better settlement. It's going to cost them a lot more than $48 to litigate if they can't get you to settle.

[malf1204]

I printed a copy o fall three reports the day I filed just for that reason and no lates showing. I do agree that they might increase there offer but they might not and if I lose in court the incorrect info is still there this way it is guaranteed in writing to be removed.

[debee]

What a great post. I love this, malf. Whatever you decide to do next, in my opinion you've already won. I hope others are inspired to follow your lead. Kudos.

[malf1204]

Thank you. Experian is now calling wanting to "Talk". I figure it is a win win for me. I think I will take them all the way because even if I lose I have already won in having the tradelines deleted by the OC. I am lucky. Maryland is one of the few states that have consumer protection laws dealing specifically with incorrect information on credit reports. Our state law also states that the CRA has a DUTY to ensure that correct information is being reported. This sort of guts the argument they they are not responsible because they are merely reporting information supplied by a third party.

[BankruptinNJ]

Way to go, malf!



We're all cheering for you! Get the bad guys!

[DesdemonaB]

Malf, is it safe to say that you stopped using the Chase cards but did manage to make minimum payments w/in the 90 day window prior to filing hence the no lates on the account. But once the BK filing hit your report the Chase card went from pays as agrees to charged off which lead to the disputes and lawsuit.

What more can Chase/Experian do other then offer a larger cash settlement, are you looking for more money than the refund of filing fee? Take the deletion (get it in writing) and filing fee and move on.

IMHO a deletion trumps a “correct” reporting seeing that the account is closed, discharged and can’t factor into your balance (zero) to credit limit ratio any more.

Good luck with the whole process and keeps us updated I would love to hear what happens.

[Charlie777]

This is great malf1204! I agree, take the deletions. No tradeline will be better for your score than an IIB with no prior delinquency, because the IIB itself is a "major delinquency".

What is the specific Maryland statute you used?

[malf1204]

I used COMAR 09.03.07.04 (http://www.dsd.state.md.us/comar/get...9.03.07.04.htm) and
Md. COMMERCIAL LAW Code Ann. § 14-1205 (2011) (

[malf1204]

So I settled with Chase. They sent me a written release which I had them make a few changes too and they are going to delete all three tradlines from all credit reports. Experian's high paid, corner office, I never lose attorney sent me a very curt email request three times over the next week I would be available by telehone to discuss and hopefully settle the suit. I gave him three times and he chose Tuesday Nov 22 at 10am. Suggestions?