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Credit reporting rules re Chapter 7 cases
Hypo:
Client files a Chapter 7 in 1997 and receives his discharge with no
debts determined to nondischargeable. At the time, the law re credit
reporting was that the filing would remain on his credit report for 7
years. At some point in time, the law re credit reporting changed so
that a Ch 7 remains on the credit report for 10 years. Client now
wants to lease a car but does not want to pay the higher interest
resulting from having the Ch 7 on his credit report.
Client would like to know: 1) whether the change in the law applied
to Ch 7 cases filed before the enactment of the 10-year reporting
rule; and 2) whether such a change in the law is in fact a violation
of the prohibition against ex-post facto laws.
As my westlaw coverage does not apply to this specific area of
inquiry, your collective thoughts would be appreciated. Thanks.
The post was migrated from Yahoo.