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#1054049 - 09/30/08 05:45 PM Bankruptcy Help??
LoanLady Offline
100 Club
Joined: Sep 2006
Posts: 110
What is the bank required to do when we receive notice of a customer's bankruptcy filing? I'm really wondering about reporting a loan to the credit bureau that is involved in bankruptcy. Can anyone point me in the right direction?

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Lending Compliance
#1054193 - 09/30/08 06:27 PM Re: Bankruptcy Help?? LoanLady
Mint Julep Offline
Diamond Poster
Mint Julep
Joined: Oct 2007
Posts: 1,152
Tennessee
The right direction is your bank's legal counsel.
_________________________
Just another self-proclaimed expert ...

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#1054247 - 09/30/08 06:47 PM Re: Bankruptcy Help?? Mint Julep
Carol Hopper Offline
Member
Carol Hopper
Joined: Jul 2008
Posts: 96
Central Missouri
If you send my your email address I will send you a credit reporting manual that has all of the instructions on Metro 3 formats, etc... This was a big help for me.
_________________________
If you aren't part of the solution - Then you are part of the problem.

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#1054701 - 09/30/08 10:59 PM Re: Bankruptcy Help?? Carol Hopper
Tom at HOME Offline
Diamond Poster
Joined: Oct 2005
Posts: 1,139
If you want to protect the bank's rights, do as "mint julep" said, contact your attorney. This is more important than any reporting or lack of reporting to the credit bureau.

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