Active 13 -> Cleaning up my credit reports

[kags1969]

I have been in Chapter 13 for 24 months and have about 12 to 17 months left, depending on how much I can save during the next 12 months. If I can save enough (my car paid off last month) I will be buying out at month 36, since I am old law.

Anyway I pulled my credit reports after avoiding them for 18 months to see what they looked like. They were messy, but nothing terrible. I have not been trying to get stuff deleted with the "not mine" approach, but rather just to get stuff to report correctly, ie zero balance, zero past due and no charge off or late pays after my filing date.

I have had pretty good success getting the balances knocked down to zero and will start working on the Charge off notations. My credit was pretty good until about a year before my 13 and I started w/ late payments. Anyway I pulled my MYFICO scores and they were 674,593,597 which still sucks, but better then I was thinking. The 674 is TU and they are missing bunches of the IIB accounts. The MYFICO scores were 50pts higher then the Truecredit scores...

If you are getting closer to the end of your 13 you might consider starting the process as the better it looks when you are finished, the better off you are.

Kags

[lrprn]

If you are getting closer to the end of your 13 you might consider starting the process as the better it looks when you are finished, the better off you are.

Glad your early work on your credit reports is paying off so handsomely for you, Kags! Way to go! Thanks for sharing your good advice, and once a few more years pass, I'm doing the same thing. I can hardly wait!

[kags1969]

Well after this last round of corrections my scores while still in 13 are:

Transunion - 674
Experian - 649
Equifax - 617

My Experian came up 60 points after I got a "CO" that was reported in the current period deleted. I may actually be able to buy I house when I finish this thing out....

[FeelingHopeless]

May I ask, how did you get the CO removed? Our score is around 575 and we've gotta work on bringing it up.

[RBAllis]

I just got my Chapter 13 filed. My attourney accidently included my Orchard Bank card, $1000 collateral...always paid on time, recently sent in the payment per her recommendation. SHe made a mistake,sent them a letter. Now I have lost my only credit card. It was my way of raising my score. I am at about a 520. My mail was returned to sender, we homeless for a while, most of my personal property was illegally sent to the dump. Needless to say my debt for my business on credit cards compounded the CC Companies sent them to collection agencies before I could gain control of my living situation and my mail. I am open to new ideas, I have let my attny know I am not at all happy with her. I am looking and a tenative creditor meeting on August 24 with my first payment to be mailed some time before July 24th.

[kags1969]

May I ask, how did you get the CO removed? Our score is around 575 and we've gotta work on bringing it up.

I just wrote a letter to the CRA(Credit Reporting Agency) and told them that the account was included in chapter 13 on 6/6/05, which was reflected in the public records of my credit file, and that the account should reflect a zero balance and no "CO" or late payments after the date that the account was included in the 13. They changed the record to how it should reflect on my report.

Kags

[kags1969]

Well here is the latest update on my FICO scores:

Transunion : 677
Experian: 649
Equifax: 659

Here are the things that I have requested to be done and what I think has effected my score in the last 6 months.

1.) Requesting that all accounts that were included in the 13 be reflecting a zero balance and zero past due.
2.) Requesting that accounts that were included in the 13 reflect "Wage Earner Plan" as opposed to "Included in Bankruptcy" (I think for some CRA IIB = Chaper 7 for FICO Scoring.)
3.) Reqesting that all late payments reported after filing date (on accounts included in 13) be deleted.

This process has yeilded 70-80 points while I am still in an active 13, which means that purchasing a house will not be out of the question once I am done with the 13. I encourage you to use your time here in financial purgatory to correct your credit reports. It will give you that much of a head start once your complete.

I have a fairly long old Credit Report so that is probably helping...

Kags

[lrprn]

Great that you've had such good success with fixing your credit reports during your bankruptcy, Kags - congrats!

[CityGirl]

wow BK really does great things for people!!! Thank you for sharing. I'm very hopeful now!!!