From the New York Times last week:
Two of the nation’s biggest banks will finally put to rest the zombies of consumer debt — bills that are still alive on credit reports although legally eliminated in bankruptcy — potentially providing relief to more than a million Americans.
Bank of America and JPMorgan Chase have agreed to update borrowers’ credit reports within the next three months to reflect that the debts were extinguished.
The move is a victory for borrowers whose credit reports have been marred as a result of the reported debts, imperiling their job prospects and torpedoing their chances of getting new loans.
These two banks (and several others) were sued for ignoring bankruptcy discharges so that they could sell off consumers’ debt and enable the debt buyers to make a profit because the consumers, facing marks against their credit score, had an incentive to pay off the debts even though they no longer legally owed them.
You can read the article at the NYT here
If you settled a Bank debt on your Spanish mortgage or even if the debt is being discussed -- in Courts or Out of Courts- with the Bank, you have rights in Spain to have it deleted. You can read more on this recent post of us:
http://www.eyeonspain.com/blogs/costaluz/14803/legal-tip-1292-what-if-i-am-included-in-a-debt-registry-in-spain.aspx
And of course, send a e-consulta ;) to Costaluz if you are experiencing a problem with Debt Agencies.