October 10, 2017 / 8:51 PM / in 9 months

Lawsuit says JPMorgan keeps canceled debt on credit reports

JPMorgan Chase Bank has been hit with a proposed class action accusing it of failing to update thousands of California consumers’ credit records to show that their debt had been erased in bankruptcy.

Filed on Monday in Manhattan federal court, the lawsuit said listing the debt as still due keeps consumers’ credit scores low, raises their interest rates and can make it difficult for them to get loans or jobs. Some consumers pay off the debt just to clear their credit reports, the lawsuit said.

To read the full story on WestlawNext Practitioner Insights, click here: bit.ly/2xwiVfn

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