Daniel Rosen explains how credit bureaus buy bankruptcy records from public vendors like LexisNexis, then often misreport the details. When they omit or alter information, that's false reporting under the Fair Credit Reporting Act, giving you solid grounds to dispute it.
Bankruptcies, if you've ever had one, you know they are awful and they usually happen because of one unexpected major life event. Now, a bankruptcy is a legal process.
That allows.
Individuals.
Or businesses.
To eliminate, restructure, and repay their debts under the protection of the court. It's important to remember that bankruptcies are filed with the courts, not the credit bureaus. They are public records. The courts don't actually send these public records to the credit bureaus. The credit bureaus buy the reports from companies like.
LexisNexis.
Which collect information from public public record databases like Pacer. When the credit bureaus receive public records, they often do not list the actual furniture.
This amounts to.
False reporting, which directly violates the Fair Credit Reporting act and provides a.
Perfect reason to dispute.
The bankruptcy.
