; (B) by redesignating paragraph (3) as paragraph (4); and (C) by inserting after paragraph (2) the following new paragraph (3): (3) No suit may be filed under this section to recover any indebtedness incurred more than five years previously. . (2) Effective date This subsection and the amendments made by this subsection shall take effect on the date of the enactment of this Act and shall apply with respect to suits filed under section 5316 of such title on or after such date. (c) Repair of credit (1) In general Chapter 53 of such title is amended by adding at the end the following new section: 5320. Correction of erroneous information submitted to consumer reporting agencies (a) Correcting errors by the Department In any case in which the Secretary finds that the Department has submitted erroneous information to a consumer reporting agency about the indebtedness of any person who has been determined by the Secretary to be indebted to the United States by virtue of such person’s participation in a benefits program administered by the Secretary, the Secretary shall— (1) instruct the consumer reporting agency to remove such erroneous information from the consumer report of such person or take such other action as may be required to ensure that such erroneous information is not included in the report of such person