Why does LandSafe Credit need documentation such as divorce decrees, bankruptcy papers, etc?
In order for LandSafe Credit to note on a credit report that a particular account was awarded to an ex-spouse, a divorce decree is required. LandSafe cannot delete tradelines based on a divorce decree. The reason for this is because typically creditors do not approve the release of liability of a party to an account based on a divorce decree. They still hold both parties financially responsible for the debt. Bankruptcy papers are required to validate the disposition of accounts. For example, was a debt reinstated, surrendered or retained by the consumer? Bankruptcy papers will facilitate LandSafe Credit’s research to answer these types of questions. In addition, many creditors do not report accounts as included in bankruptcy. This causes additional research, thus lengthening the processing time. Please also note that with a Chapter 13 bankruptcy that has not been completed, LandSafe Credit requires a current trustee report. This facilitates the updating of tradelines on the report to r
