When To Clean Up Credit Report

[arlington]

I just had my 341 meeting yesterday and wanted to ask at what point do you start cleaning up your credit report? After you are discharged (done with the program)?

[krielly]

Hi there. I read many posts here from folks who start the process while they are in the 13. Because it's so time consuming, they suggest to get started on it right away, so that by the time you are discharged, you're on track to rebuilding the best possible score you can have.

I'm about 26 mos into a 60 mos plan. So I'm sure I need to get started doing that myself. I'll be interested to hear what others have to say about this.

I also know several posters here are signed up for credit monitoring, so they get updates on their scores. I wonder what people recommend as a good service, and the cost associated?

K

[chpxiii]

I'm waiting until the discharge. I guess it depends on each person's credit report.

Right now what I have showing are student loans and then 2 creditors who were included in bankruptcy. I'm waiting for my discharge, and then a month after, to see if they updated my credit report to the CRAs. If they don't, then I'm attacking them fullforce.

[arlington]

So can I request that a creditor be removed if they don't file a claim by the deadline? Still trying to figure out how this works.

[James H]

good question and I'd also love to know what others think

I'm only 3 months into a 5 year plan and and was wondering if I should even bother yet? I highly doubt I can get a credit card now, but even if i could I can promise it would be paid in full at the end of each month.

besides that, I really don't know what can be done.

[Boscoe]

I'd wait until 45 days after you file, then request a copy of all 3 credit reports. Everything that you included in your bk should be saying "Included in Bankruptcy or "Included in Wage Earner Plan", something like that.

If not, dispute the items with the credit bureaus directly. There is no need to wait, as you will want your credit report as clean as possible.

[Minnymouth]

Anyone in a Chapter 13 needs to at least check their credit report when the start the Chapter 13 and make sure that everything says Included in bankrutpcy or Chapter 13 payment plan and then once each year thru the program (use the free report each year).... You can dispute anything at the start that is not posted correctly.

After your Chapter 13 is discharged give it one month for them to get everything posted, then check it, dispute what you don't agree with and start then rebuilding your credit score back up....

James H....... You cannot get credit cards while in Chapter 13 unless it is approved by the Trustee..... and I don't foresee that happening. He would take that extra money you would pay on a credit card and give it to another creditor.....

Some of the other Mods are Chapter 13'rs..... I was a Chapter 7....but am still familar with some of the problems during Chapter 13's.

Some of the old timers I'm sure will chime in here and help you with your questions.....

[lrprn]

Some of the other Mods are Chapter 13'rs..... I was a Chapter 7....but am still familar with some of the problems during Chapter 13's.

You are right on the money, Minny!

Ch 13ers do continue to get offers for credit - my husband and I have been in Ch 13 for 16 months, but still get 2-3 offers A WEEK for credit cards....some from companies we filed on! The one common factor - the terms are ridiculous.

James, one of the most important things we can learn in Ch 13 is how to live within what we make. Try a cash and carry lifestyle for a few months with cash and a debit card....it helps to wean us from the credit cards that got many of us into financial trouble. Good luck - hope everything works out!