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Personal Bankruptcy Affecting Bowling Account
I had a bankruptcy in 1997, and it's been eleven years since it was finalized. I went to [omitted] Credit Union to open a bowling account as the league secretary, and was told that I couldn't be on the account due to the bankruptcy. Is this legal as the bankruptcy is over ten years old?
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 Information relating to a bankruptcy is not permitted in a credit report if the entry of the order for relief or the date of adjudication of the bankruptcy is over ten years old (section 605 of the Fair Credit Reporting Act ("FCRA")). Find out from the credit union from which credit reporting agency it obtained the report. Then contact the credit reporting agency to get a copy of your file. If the bankruptcy is included in the report, look for the date of the order for relief or the date of adjudication in the credit report. If that date was more than ten years old at the time you tried to open the account, the credit reporting agency erred in providing the information, and the credit union erred in acting on it, assuming that the dates were included in the information the credit union received. You should ask that the credit reporting agency remove the bankruptcy from its reports to comply with section 605 of the FCRA.
If the credit reporting agency shows dates for the bankruptcy that are less than 10 years old and those dates conflict with your records, you should contact the credit reporting agency and work with them to correct their record. Of course, you could also seek out a different financial institution for the league's account, one that doesn't consider a nine or ten year old bankruptcy a problem for setting up such an account. However, that would not resolve the underlying problem of possible invalid reporting from the credit reporting agency, which you should make sure gets resolved.
Published on BankingQuestions.com 10/02/08
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