Skip to content

Credit Reporting on Bankrupt Accounts

Answered by: 

Question: 
We are dealing with the problem of credit reporting on bankrupt accounts. Our reporting is done at the loan level therefore non bankrupt co-borrowers are affected. Can we just suppress reporting?
Answer: 

You are required to report the accounts accurately. Suppressing the reporting is not normally an option. You either report your consumer loans or you do not. You don't get to choose which ones you report. Unfortunately you did not give enough information to determine what your issue might be.

First published on 12/20/2015

Filed under: 
Filed under compliance as: 
Filed under lending as: 
Filed under operations as: 

Banker Store View All

From training, policies, forms, and publications, to office products and occasional gifts, it’s available here:

Banker Store

hot right now

image description

Looking for effective, convenient training on a particular subject?

BOL Learning Connect offers more than 200 courses ON-DEMAND or on CD ROM from AML to Reg Z and every topic in between.

Search Topics