Here & Now Here & Now

Support the news

Two Big Banks To Erase 'Zombie Debt' From Credit Reports04:59
Download

Play
(Sean MacEntee/Flickr)
(Sean MacEntee/Flickr)
This article is more than 5 years old.

Bank of America and JP Morgan Chase have agreed to erase debts on credit reports that legally should have been eliminated in bankruptcy.

These so-called "zombie debts" kept debts on credit reports long after they should have been removed and often prevented consumers from getting jobs or renting apartments.

Professor Lois Lupica of the University of Maine Law School tells Here & Now's Meghna Chakrabarti about these zombie debts and what this agreement will mean for consumers.

Guest

  • Lois Lupica, professor at the University of Maine Law School.

This segment aired on May 8, 2015.

Support the news

+Join the discussion
TwitterfacebookEmail

Support the news