What do I need to do to get rid of the RBC credit card that was closed with the Bankruptcy? This debt is still showing on my credit report and I think it is an error. I know that this debt was part of my bankruptcy and it should no longer be reflected in my credit bureau but I don’t know how to fix this error. This really doesn’t exist anymore, yet is showing that I have a 30,000 balance on my credit bureau.
Any advice would be appreciated. I have included the email from the TD saying I can’t get the credit card that I had applied for.
Appears to be an error by Royal Bank in your credit report. They should not be reflecting this in your report as active and it appears to be an error. I can make some basic suggestions
You need to
– Obtain a copy of your credit report with Equifax/Trans Union, upon review, you may need to
– Update your discharge information with both Equifax and TransUnion (send them copy of your discharge) – this is usually done by the Office of the Superintendent of Bankruptcy and the debt is discharged on your bureau but it may not have been.
– Contact RBC if they are reporting the debt as active. Request that they update their information with Equifax/TU. Document in writing and request a response. Follow up if nothing is forth coming.
– Once discussed with RBC, go online and research with each agency the procedure you need to file to lodge a complaint about and error made by a creditor. See the links below
Hopefully this helps.
What To Do If You Find Errors in Your Credit Report? What to do if you find errors in your credit report or credit file?
It’s always important to get a copy of your credit rating and report each year to verify that your personal and financial information is up to date, and to help ensure that you have not been the victim of identity fraud. Generally the two major agencies Equifax and Trans Union, do no share information between each other you should check with both agencies and review the report carefully (Once a year your can get a free copy of your credit file and each agency has their own process to request this information. )
Some errors that you may come across include
- Errors can include another person’s information on your file;
- debts listed that aren’t yours;
- debts listed that have been paid in full or discharged in a bankruptcy of consumer proposal; and
- incorrect payment history.
Ok, so you have reviewed your file and find some information that is inaccurate or incomplete – now what
You do have the right to explain or protest this inaccurate or incomplete information. You should first contact the credit reporting agency regarding their dispute resolution process and contact the reporting creditor to notify them of the error. This may take a bit of time and patience, and you should document the information you send and with whom you end up discssing your situation with to avoid repeating yourself too often.
If you still do not agree with an item following the Agency’s investigation, TransUnion and Equifax websites inform you as to how you can add an explanatory statement to your report. Generally this statement is limited in size, say 100 to 200 words, and is really a statement of fact about your case and your personal situation. I know quite frequently debtors who have declared bankruptcy often use this avenue if they feel the bankruptcy was usually beyond their control (such as those who got caught with a leaky condo or who have been subject to fraud but have been left with the debt)
If you are still unsatisfied, you can :
1. Contact your provincial responsible for consumer protection as credit reporting agencies falls under provincial jurisdiction.
2. Consider contacting the Federal Privacy Commissioner (except in the case of Quebec, B.C. and Alberta where you should contact the Provincial Privacy Commissioner).
General Privacy Protection in Canada
Personal Information Protection and Electronic Documents Act (PIPEDA) also sets out ground rules for how private sector organizations can collect, use or disclose personal information in the course of commercial activities. Under PIPEDA individuals have a right to see the personal information that a business holds about them, to correct any inaccuracies and to lodge a complaint with the Privacy Commissioner of Canada if they are unhappy with how an organization is handling their information.
The contact information of the two major credit reporting agencies in Canada:
Tel: 1-800-465-7166 FREE
Tel: 1-866-525-0262 FREE (For all residents except Quebec)
Tel: 1-877-713-3393 FREE (For Quebec residents)
For more information on credit reports and scores, please visit the publication called Understanding Your Credit Report and Credit Score published by the Financial Consumer Agency of Canada.