Cleaning Up Your Credit Report

There have been so many questions about charge offs, etc, I just want to write a little bit.

First of all, anything that is included in bankruptcy MUST say that on the credit report. NO MATTER WHAT.

There should NEVER be a "charge off" or a balance showing. It should always always always say $00.00 balance Included in Chapter 7 bankrutpcy. For them to report otherwise is against the law.

I started disputing the DAY of my discharge. MOST of my creditors had already properly reported my accounts in Chapter 7. Those that didn't I got on the ball with and made them report accurrately.

Just remember this: it is against the law to put false or misleading information on a credit report. Creditors CAN and have been held liable in courts for falsely supplying misleading and false information to the credit bureaus.

Hope this helps!

Do you mind posting a thorough "how-to"?

Yes, but give me a couple of days to put it together! =)

Yes, but give me a couple of days to put it together! =)

Sure thing :)

Checked my credit report today. First time since i filed. Wanted to see all that had been posted.
Did have some that said 'included in BK" but also said "charge-off" on it and the dollar amount was blank, not "0".
Will have to send a few letters to some of the creditors to make them report status of account.
But basicallly it looked good.
Fell out when my Fico score was still almost 700 - (based on my payment history over the last 7 years).
Some of my accounts went back 30 years showing paid in full.
Still considered a decent credit risk even though I claimed BK.....
INTERESTING!!!!!

Be sure and check those credit reports about 3 months after discharge. Very important......
Minny

Yeah, that shows the power of "CREDIT HISTORY" it is nearly the most important factor in determining credit worthiness, if you have 30 year old accounts with positive payment history, a BK will negligible affect your credit.

what's the status on the how-to write up?

Here is a little bit of stuff:
1.) Get and review your credit report.
2.) Analyze your report.
3.)Make a list of all items you consider to be questionable or negative. Clearly identify each item in your report that you dispute, explain why you dispute the information,
4.)Write a dispute letter bureaus.
5.)Send the letter to the credit bureaus. Make sure you send it registered or certified mail.
Document your efforts.Record when you sent your letters, and the results.
6.)Wait for the bureaus to investigate your claims.
7.)Analyze the results.
Was the item deleted or changed to your satisfaction? You may continue steps 1, 2 and 3 above until you feel the dispute is settled satisfactorily. Remember, there is no charge for a reinvestigation. If you don’t get the results you want, dispute the listing again.


ACCEPTABLE RATINGS

Ratings TO Accept:

PAID IN FULL AS AGREED

CREDIT LINE CLOSED BY CUSTOMER

NOT RATED (TO NEW)

R1 RATING

DISPUTED (only if you feel that it is the best you can get)

DISPUTE AFTER RESOLUTION (same as above)

Ratings NOT TO Accept:

BANKRUPTCY

DISCHARGED BY BANKRUPTCY

CONSUMER COUNSELING

DISPUTE AFTER RESOLUTION

DISMISSED

UNPAID

MAKING PAYMENTS

SKIP

WAGE EARNER BANKRUPTCY
Your Credit Report And Rights As A Consumer

Under the Federal Fair Credit Reporting Act, you:

May obtain a credit report from the credit bureau for a reasonable fee ($8 to $15).

May obtain a credit report from the credit bureau at no charge within 30 days of being rejected for credit. You must send a copy of the rejection letter to the credit bureau.

May be represented by anyone of your choice at the credit bureau.

May dispute any information on the credit report that you feel is listed incorrectly. The credit bureau must re-investigate the information and within a reasonable time, verify the information. A reasonable time has been construed to be 20 working days by some credit bureaus.

May have derogatory information such as late payments and judgments taken off the credit report within 7 years. Bankruptcies will come off in 10 years.

May place a 100-word consumer statement in your file to tell your side of any derogatory information.

May have the credit bureau notify those you name (at no cost to you) who have previously received incorrect or incomplete information on you and provide them with the corrected credit report.

May have your credit report withheld from anyone, who under the law, does not have a legitimate need for the report.

May sue the credit bureau if it willfully or negligently violates the law.

And some more information:

A good site that I have found is www.creditbible.com... I am in no way affiliated with this site, I just found it by accident one day!

Just one caveat, the credit report can have true information about you, so under the section you list "Ratings not to accept", if its in fact true that a debt was "Discharged in Bankruptcy" then it can be reported that way.

A couple of other things that I want to highlight:

It is ILLEGAL for the credit bureaus to leave or to not remove untrue or false information on your credit report. You can and do have the right to sue them if they do not. Since you are judged on your credit worthiness more than anything nowadays, under the FCRA you DO have rights.

It is also illegal for someone to pull your bureau without your written consent or permission. They can be fined $1000.00 for every pull that is not authorized, and you can also collect damages from a company who does this. On the other hand, they can also remove that inquiry as well... so can the bureaus. However, it is best to handle this one directly with the company. Ask them what permissable purpose that they had, or to remove the pull.

Hope this info helps.

And finally, when disputing, I can't stress this enough. ALWAYS ALWAYS ALWAYS do everything certified mail. Yes it is more expensive, but I had to learn this lesson the hard way, and have been fighting with Transunion for more than 2 months, because they are negligent, but I also didn't do things certified.

So, included in Bankruptcy is OK?
Also, when you pull your credit report online, you can automatically dispute things on your report electronically ON-Line, as well. Is this adviseable or should it be done by certified mail?

So, included in Bankruptcy is OK?
Also, when you pull your credit report online, you can automatically dispute things on your report electronically ON-Line, as well. Is this adviseable or should it be done by certified mail?


Experian I have worked with three times so far on line and they were great. When dealing with Transunion, I would definitely use certified mail, no matter what. Those guys are a bunch of dirtbags there, and if you don't document everything, they lie, and everything else. (This is from my own personal experience!!!)Remeber that the bureaus are a BUSINESS. They are there to make money, and they don't really care about anything else. Documentation is the key, because if they go past their 30 day time limit, they can and have been held liable for damages claims in the past, but if you don't have everything documented, you aren't as likely to win your case, if it needs to go that far.

(I would also encourage you to look at Ripoff Report, and other consumer review sites for more discouraging information on how Transunion repeatedly breaks the law! They need to get on the ball here, and the FTC and other investigators need to hammer down on them.)

"Included in Bankruptcy" is acceptable, BUT it MUST have a $0.00 balance showing due. I am also disputing the fact that one of the bureaus shows how many days past due two accounts were. I said that it is irrelevant, and the money was included in Bankruptcy and that's all that it should say. I am waiting to hear on that. one

I am also disputing the fact that one of the bureaus shows how many days past due two accounts were. I said that it is irrelevant, and the money was included in Bankruptcy and that's all that it should say. I am waiting to hear on that. one


You are going to lose that one (assuming the account gets verified), negative history about an account can be reported for up to seven years, so if you had late payments, that negative payment history will be reported, Sorry.

You are going to lose that one (assuming the account gets verified), negative history about an account can be reported for up to seven years, so if you had late payments, that negative payment history will be reported, Sorry.

I am still going to try. I feel that it's a "double-whammy" to do that. It's bad enough that the accounts show "in bankruptcy" but to show the payment history isn't right. One or the other.

Also, it's only showing on TWO accounts... the other ones removed thier account history, so why are only two of them showing? If they can take the other ones away, why not these two also?

Some more info:

The following are the ONLY permissable reasons that someone should have to pull your credit. They must ALSO have permission from YOU to do so:

Applications for credit, insurance, and rentals for personal, family or household purposes.
Employment, which includes hiring, promotion, reassignment or retention. A CRA may not release a credit report for employment decisions without consent.
Court orders, including grand jury subpoenas.
"Legitimate" business needs in transactions initiated by the consumer for personal, family, or household purposes.
Account review. Periodically, banks and other companies review credit files to determine whether they wish to retain the individual as a customer.
Licensing (professional).
Child support payment determinations.
Law enforcement access: Government agencies with authority to investigate terrorism and counterintelligence have secret access to credit reports.
Specific prior consent is required before consumer reports with medical information can be released.

Any creditor that pulls your credit AFTER they have been notified of your discharge is breaking the law!

They can be fined and held liable in court!

Thank you so much for all the great info...

Some more info:

The following are the ONLY permissable reasons that someone should have to pull your credit. They must ALSO have permission from YOU to do so:

Applications for credit, insurance, and rentals for personal, family or household purposes.
Employment, which includes hiring, promotion, reassignment or retention. A CRA may not release a credit report for employment decisions without consent.
Court orders, including grand jury subpoenas.
"Legitimate" business needs in transactions initiated by the consumer for personal, family, or household purposes.
Account review. Periodically, banks and other companies review credit files to determine whether they wish to retain the individual as a customer.
Licensing (professional).
Child support payment determinations.
Law enforcement access: Government agencies with authority to investigate terrorism and counterintelligence have secret access to credit reports.
Specific prior consent is required before consumer reports with medical information can be released.

There are actually quite a few more permissable purposes, the main authoritiy is Section 604 of the Fair Credit Reporting Act. The main one you left out is the "firm offer of credit, not initiated by the consumer" However, the report they recieve under this reason is more limited, but it still shows up an inquiry

My husband opened an account 5 years ago. The account was very misleading. He was told that if he gave a deposite of 275, the limit being 475, he would beable to to use the card as a visa. (which it had a visa logo on it) So he sends in the money and gets the card. But on receiving the card it turns out he can only use the card to buy from that company. Well he wasn't interested in buying books from them. So he tried to cancel the card and explained the situation that he thought it was a regular cc. Well they wouldn't refund his money, so he went to our bank and had them stop payment. The company kept trying to get the money back, so we had to change account numbers. So we never thought about them again until we decided to buy a house in Nov of 2002. Well the bank pulls our credit report and says that NACS (the company giving us all the problems) says were 180 days late 4 or 5 times. So we can't buy a house until we get this taken care of. So we contact NACS and they say they'll stop making reports if we pay them 275. We didn't want to pay them but we really wanted to buy a house, so we sent them a money order in Nov. Well about a year ago we pull up our credit report and it shows that NACS is now saying we're a 180 days late again!!! So we contact them (and every time we call we rack up about $50 in long distance phone calls!) and they say they never received payment. So we look up the money order and it shows that we payed and that they cashed it. So my husband sends them a copy of all the records showing that we payed them once already. When my husband talks to them he ask for a receipt showing that we paid and they said sure. Well here we are in June, and I pulled up a credit report last night(discharge was yesterday) and it turns out that NACS is still saying we're 180 days late for the months of Feb, Mar, and Apr. I could just scream!!! We called NACS last night and it turns out that they wont speak to us until their Credit Manager is in 9-5 and my husband doesnt get home til 530. They wouldn't take his name or account number. We didn't include them in Bk because we thought we had them paid off and we woldn't need too. anyone have any ideas of what we can do?
thanks

Tressa

I work for an agency that constantly gets calls from these cc sharks who sell a credit card that can only be used to purchase items from their catalog. Obviously, they dont say that on the front end because who would want, much less pay for, a card like that. Thinking, like yourself, you are getting a one size, fits all cc to purchase things from places like Home Depot, people send them money and either don't get the card at all or end up doing what you had to do. I know you can dispute things on your credit report so you might do that through the 3 credit reporting agencies - Experian, Equifax and Trans Union. These agencies are supposed to contact the company based on what you give them and settle the dispute. It sounds like this bogus company is going to milk you as long as they can get away with it. Another thing you might do is contact the Better Business Bureau where the company is located and have them file a complaint on your behalf with the company. Given the way the company operates they may not care how the BBB rates them but give it a shot. The BBB can be very effective in resolving disputes. They helped me with a similar problem with a company in Los Angeles. Good luck...

Can a charge off be listed along side a BK on a CR and be legit? Say an account was charged off one month before filing. Can that be removed?

Can a charge off be listed along side a BK on a CR and be legit? Say an account was charged off one month before filing. Can that be removed?


Yes, and technically it should. It should ONLY say "included in bankruptcy." I feel to say anything else on there is a double-negative, and it should be removed. Anything that says "charge off" that was included in bankruptcy, dispute it!

Can a charge off be listed along side a BK on a CR and be legit? Say an account was charged off one month before filing. Can that be removed?

Yeah, you should probably dispute that entry. If the account was discharged in BK, that should be the only entry that should be reflected on that account as its the most current and accurate statement as to the status of the account.

However, the counter argument is this: if the account was charged off prior to your BK by the creditor, that is a "true" statement about the account and the fact that you filed BK doesn't change the fact that the creditor did, in fact, charge off the account. So, there is a good faith argument that a creditor can include both entries, "charged off" & "discharged in bankruptcy", because it is a true and accurate statement about your account history.

Let us know what happens if you decide to dispute it.

Interesting regarding the charge-off info. We filed on 3/7 and are still waiting for our discharge. However, I noticed when pulling our credit report earlier this month that some of our creditors have all of a sudden charged-off our account balances (Citibank, AMEX, and Bank of America). When I pulled our reports in April, the account balances weren't charged off. I didn't think they could do that after receiving notice of the bankruptcy.

I intend to dispute every single one of the charge-off entries if after discharge they haven't been removed.

Tressa wrote:

> I pulled up a credit report last night(discharge was yesterday) and it turns out that NACS is still saying we're 180 days late for the months of Feb, Mar, and Apr. I could just scream!!! We called NACS last night and it turns out that they wont speak to us until their Credit Manager is in


Awful experience. I know exactly what this is like because I had an identical experience last year with Citifinancial. The reasons were different but the net result was the same. I basically spent hours and hours on the phone with them arguing about the status of my loan. I was armed with a lot of knowledge and contradicted their many lies to me, so they constantly adjusted their story after I proved my point. But in the end, they would not back down so I hired a lawyer. He contacted them and they denied everything they had told me over the phone. They said that I was lying to them (it was the other way around!).

The problem was that I had no proof of any of this. They denied it all. Had I done the proper thing in the first place, I could have avoided all that stress. The proper thing is this: When disputing a credit, NEVER NEVER talk to a creditor on the phone! Only a paper trail will be of any use to your lawyer. You must argue your case via mail. They will not lie to you via mail or try to trick you, because they would then be held liable. So if any creditor ever calls you, interrupt them immediately and ask for documents to be sent in the mail. Say nothing else on the phone. Hang up if they won't let it go.


I was sad to hear that you spent so much money talking to these NACS weasels by phone. A complete waste of everyone's time. It's too late for you now, but next time, make sure you use mail only.

- Ned

What is a charge-off, exactly, and why is it so bad to have that on your CR as opposed to "included in BK?" I have several accounts which were included in my BK, yet they say "charge-off." What happens if I don't dispute? Is a charge-off that bad?

Charge Off - Accounting term to indicate that the creditor does not expect to collect a balance owing on an account.

When a creditor writes a debt off as a loss for tax reasons, it is called a charge off.

They do this when the account becomes extremely delinquent. Make no mistake, this does not mean they have given up on collecting the debt. On the contrary, the creditor may sell the debt or turn it over to a collection agency. Even though this is a negative listing, an attorney can assist you in settling the debt, often for much less than you owe on it.

We should have our discharge in the next week and I am going to want to start fixing our credit report. It was listed Ratings NOT TO Accept: BANKRUPTCY, DISCHARGED BY BANKRUPTCY, CONSUMER COUNSELING, DISPUTE AFTER RESOLUTION, DISMISSED, UNPAID, MAKING PAYMENTS, SKIP, WAGE EARNER BANKRUPTCY.

My question is if it is listed as one of the above, such as discharged in bankruptcy how could you get them to not report that way? I have several that say included in wage earner plan. This is because I originally filed chapter 13 and then coverted to chapter 7. Do creditors really report as "paid as agreed" when they were included in a bankruptcy? I guess I assumed that they would report as Discharged in Bankruptcy and that that's what you wanted them to. If I am planning on getting a home right away, already preapproved, would it be in my best interest to wait until I have closed on the home before trying to change my credit report? I dont' want inquiries to show up because we are just barely qualifying/

We should have our discharge in the next week and I am going to want to start fixing our credit report. It was listed Ratings NOT TO Accept: BANKRUPTCY, DISCHARGED BY BANKRUPTCY, CONSUMER COUNSELING, DISPUTE AFTER RESOLUTION, DISMISSED, UNPAID, MAKING PAYMENTS, SKIP, WAGE EARNER BANKRUPTCY.

My question is if it is listed as one of the above, such as discharged in bankruptcy how could you get them to not report that way? I have several that say included in wage earner plan. This is because I originally filed chapter 13 and then coverted to chapter 7. Do creditors really report as "paid as agreed" when they were included in a bankruptcy? I guess I assumed that they would report as Discharged in Bankruptcy and that that's what you wanted them to. If I am planning on getting a home right away, already preapproved, would it be in my best interest to wait until I have closed on the home before trying to change my credit report? I dont' want inquiries to show up because we are just barely qualifying/

Your instincts are right, if your debt was "really" discharged in BK, its a true and accurate statement about your account and will not be removed once verified. Yes, its a negative entry, what credit repair agencies attempt to do is to overwhelm the system with disputes in the hope that the creditor will not verify the entry which then requires the credit agency to remove the entry. But often times, when the creditor audits their accounts, it gets put back on.

Sorry if this creates another thread that has already been addressed and feel free to move it to the correct spot, however I haven't seen this question directly addressed to my knowledge. I had a bankruptcy discharged in march of 04 and for whatever reason I am now going over my report to disput negative things ( I figured I wouldn't apply for credit because that is what put me in the place I was anyway). I have already had a collections account deleted from one report so I know this is working. My question though. I have read on this site about all bankruptcy discharged accounts should read "discharged in bankruptcy" and zero balance next to them. However a decent amount of my accounts read "included or discharged in bankruptcy BUT many of them also say 90 days or 150 days late! Now this seems like a double whammy to me. Should I refute these only to say discharged in bankruptcy because to my knowledge since the judge puts a "stay" on the disputed accounts and my laywer told me to stop paying on all accounts I didn't want..how can they report me as being late since technically they are "in limbo" while the case is being tried? Please advise. Also my fico are in the mid to upper 500's and I have less than 8 years of a credit history. Is this good post bankruptcy for my limited credit file?

Thanks,
Jeff

"included or discharged in bankruptcy" that statement is an acceptable entry regarding discharge. As for the past due entries, certainly dispute them, but, if the 90 days past due reflects the payment history BEFORE you filed BK, its a true and accurate statement about you payment history and payment history is typically tracked for 2 years, and negative payment history can be reported for up to 7 years. However, if the 90 days past due is for a time period AFTER you filed BK, then there is a problem and you must dispute that.

These problems only occured during the time between filing the petition and the actual meeting of creditors. It seems that even though my lawyers told these creditors about my bankruptcy filing and to honor the "stay" by the judge, they got back at me by filing that I had missed payments when in fact I didn't pay them during this time because I didn't have to. I was current on payments up to filing so this should be removed IMO. Do you think by removing this "late" info that it really will make a difference to my FICO, since technically it cannot be anyworse than the bankruptcy itself. Thanks

Yeah, payment history is a MAJOR factor in determining you credit score, so if the late payment entries relate to post petition missed paymens, you should definately dispute those entries as, in my humble opinion, they are not accurate.

These problems only occured during the time between filing the petition and the actual meeting of creditors. It seems that even though my lawyers told these creditors about my bankruptcy filing and to honor the "stay" by the judge, they got back at me by filing that I had missed payments when in fact I didn't pay them during this time because I didn't have to. I was current on payments up to filing so this should be removed IMO. Do you think by removing this "late" info that it really will make a difference to my FICO, since technically it cannot be anyworse than the bankruptcy itself. Thanks


Well I can comment on this one!

I disputed all of my accounts showing past due payments, stating that it was included in bankruptcy, and all but TWO were REMOVED! (Walmart and Sam's club are giving me a hard time now....)

So I say go for it!

Some of my wifes accounts are only saying charged off instead of Bankruptcy. Another CR says bankruptcy on some accounts and another CR has one account paid off in good standing. Should I leave them alone or dispute them to say included in bankruptcy? We've been discharged for 6 months now.

I am having a problem with Sams Club also. I'm not bucking for removal. just accuracy. I'll take removal if i it comes as a result of their failure though. The whole thing is a sham. THEY DON"T INVESTIGATE ANYTHING.

I am having a problem with Sams Club also. I'm not bucking for removal. just accuracy. I'll take removal if i it comes as a result of their failure though. The whole thing is a sham. THEY DON"T INVESTIGATE ANYTHING.


File a complaint with the BBB against both Sam's and the Bureau... that should help clear it up.... :)

I want to add this on today.

I can not stress the importance of this enough.

Absolutely, positively, DO NOT dispute online. DON'T DO IT. You have no evidence of it being done, and it's the evil bureaus word against yours.

Make sure to document EVERYTHING. And I mean everything. ESPECIALLY when dealing with Transunion. Send everything certified, and save copies of anything that you send them. Don't bother calling them either. The reps they have don't speak a word of English, and you can't understand them.

I found out today that Transunion isn't releasing to me my credit score. Now I am fighting mad and furious.

PLEASE document everything when disputing. Then if it needs to be taken care of legally, you have the proof to go after them for breaking the law.

I'm still paying on a newer motorcycle and did not reaffirm. My CR's state that it was included in the bankruptcy. They show a zero balance and no record of my continued payments. Are the CR's suppose to show my activity on this account? If they aren't, should I call Honda Finance and ask them to start reporting to the CR's? Or wil they not even do that?

Thanks for your input.

Okay, so all accounts that were discharged in BK should report that way, and not show any balances or collection activity during the BK period? These accounts should also show no previous history since they were IIB (according to previous posts?)

For example, this is how my Experian report is showing:


Beneficial: 6/05 120, 7/05 120, 8/05 120, 9/05 CO, past due: 6557.00, Status: Charge-off

CAP1: 5/05 CO, 6/05 CO, 7/05 CO, 8/05 CO, past due: , Status: IIB

CAP1: 6/05 OK, 7/05 30, 8/05 CO, past due: , Status: IIB

Sears: 6/05 30, 7/05 60, 8/05 CO, past due: , Status: IIB

HSBC Auto: 6/05 90, past due: 909, Status: past due 90 days, amt owed: 6505.00.

HSBC NV: 6/05 CO, past due: , Status: IIB, transferred to another lender or claim purchased.

HSBC NV: 6/05 CO, past due: , Status: IIB, transferred to another lender or claim purchased.

Spiegel: 6/05 CO, 7/05 CO, 8/05 CO, Past due: , Status: IIB

Would these creditors be held liable for reporting to the CRB during the BK stay? We were discharged on 11/1.

Thanks for any help.

Kam

I noticed on my credit report that a lot of my accounts that should be closed are not. They are open and in the pay status it states paid ($0). Should I have these accounts changed to 'closed'? or is this helping my cr in any way? I would hate to have these accounts closed and then my credit score go down. Should I just leave it alone? HELP!

I have a weird situation and I'm not sure what's the best thing to do to help my credit report. My exH filed ch13 last Nov and since we had a car that was initially bought joint, his ch13 affected my credit. I traded in the car in March 05, checked my TL which said paid as agreed $0. I filed ch7 in July and then they changed the car TL to me filing Ch 13. I disputed that TL and they verified that I filed ch13 in May 05. I disputed again stating that I didn't file ch13 nor did I have the car in May, but they verified again that I did. Should I keep pursuing this or will it really matter?

Cliff note version:

Nov 04 - exH filed ch 13, joint acct Ford
March 05 - traded car in, TL showed $0, paid as agreed
July 05 - filed ch 7 myself
Aug 05 - ch 13 on original car showed up on TL stating that I filed
ch 13 in May - did not have car in May, already traded in
and never filed 13, plus exH didn't file in May, it was last Nov

So fight this or not? Will it make a difference?

It might make a difference-it could be seen as a derogatory account when it isn't. Have you tried writing to Ford?

From a fundamental perspective, a Chp13 annotation would be considered less derogotary than Chp7 on your trade line.

Babycakes-

I was about to respond to Todd, then had to edit myself! Technically, since it was a joint account w/ your exH and he filed ch. 13, it was paid off while 'in' a ch 13 BK. (Even though you were not in the 13.)

Are you saying there is a public record about you having a ch. 13 in addition to your ch. 7? If so that would be a problem. If the ch. 13 comment is only on the Ford TL, you could try to get Ford to remove it-but I guess they have a right to report it as 'paid/ch 13' if they choose.

Kam-

My understanding is they can report events that happened prior to the BK but nothing after. So, if the account was a CO in May and you filed BK in August, then showing May '05 CO, Aug '05 IIB that would be ok.

Sobroke-

Not sure! If they're showing $0 owed, that is the most important thing. If they are not showing anything derogatory, having them updated to show IIB/closed could hurt.

Babycakes-

I was about to respond to Todd, then had to edit myself! Technically, since it was a joint account w/ your exH and he filed ch. 13, it was paid off while 'in' a ch 13 BK. (Even though you were not in the 13.)

Are you saying there is a public record about you having a ch. 13 in addition to your ch. 7? If so that would be a problem. If the ch. 13 comment is only on the Ford TL, you could try to get Ford to remove it-but I guess they have a right to report it as 'paid/ch 13' if they choose.


I know they technically can, because he did file and it was a joint acct, but they are reporting it all wrong. They are reporting I filed ch 13 on this car in May. I never filed and the car was traded in March. I just wondered if this is a way to get it taken off that TL. Need all the good things I can get on my credit report. The kicker is that this car per our divorce decree was mine. I made all the payments on time, never late and he just screwed the whole thing up.

From a fundamental perspective, a Chp13 annotation would be considered less derogotary than Chp7 on your trade line.

Chp 7 won't go on that TL because the car was traded in March. I didn't file until July. The chp 13 is on there because of my exH filing. And my reason for filing ch7 is because of him. So he's just messed my credit up all over the place. sheesh.

My house is still in the process of foreclosure (surrendered in ch.7, but bank still has to foreclose to get the legal title) On my CR, it is still showing up as late and with a large balance. I tried disputing that, but the CRAs are not removing it or changing it. Are they waiting for the sheriff sale or what? What should I do? :(

We have not recieved the discharge yet but have past our 60 days and no word.. I have already started disputing on my credit report.. Is this a bad thing or should I have waited? thanks

My discharge came just before NY Eve. I had already completed most of my cleanup. The issues I have now are about old things-not BK related. (Like an account that is showing a charge off in 03/04 and 10/05. It was something that was paid early in 04, was originally not showing paid, and EXperian corrected to show $0 balance owed but re-aged the status. Grrr!)

Hi Everyone, I just had my Ch 13 confirmed last week, and pulled a credit report over the weekend. I noticed my financing company for my car, which was a lease included in my BK, is being reported incorrectly. The car was turned in voluntarily in August, which is also when I filed. I was current on all payments when it was turned in, and I notified them that I was turning in the car and filing BK. Anyway, on my report, they are reporting 90 days late in August, 60 days late in Sept, and 30 days late in October. I filed on August 30th and they were in the list of creditors with my petition and would have been notified immediately.

I filled out the dispute form online with TransUnion, but is there anything else I can do? It is obviously greatly affecting my credit score because there are 3 deliquincies all within the past few months. I never had a late payment with them the entire time I had the car. Thanks for your help!

We filed CH13 in Aug of 04. I just pulled my credit reports. Experian is showing my Bank of America acct like this:
status: discharged through ch 13, past due 60 days. 1,449 written off. 1,449 past due as of Dec 2005. Then it shows last reported 12/2005 with a recent balance of 1449 as of 12/2005.

Trans Union shows it like this for BOA:
Balance: 1,449 Pay status: Charged off as bad debt
Updated 11/2005 Past due: 1449
under remarks: chap 13 bankruptcy

Equifax has them listed under past due accounts. shows the same amount, last reported in 3/2005. Under account status is says wage earner plan

To top it off, they were one of the first to file a claim. Now it is hacking me off to know that they are showing this debt as written off, yet they will be getting paid in full.

Now there are a few others like this but BOA is the only one showing on all 3 sites.

Do I need to dispute this with BOA, and all 3 of the CRAs? And if all, with whom do I start? I have written dispute letters to collection agencies, but have never written one of this type.
All the credit cards who bothered to file a claim are being paid in full, and it really makes me mad that they would do this to me.

Vicky

I'd say dispute with the CRA's. It is not at all uncommon for things to be wrong after BK.

I think I know the answer to this, but any accounts should be listed as $0 and IIB. What about still having a derogatory status? Most of mine still say derogatory. Is this something I can still dispute. Is it in the FCRA anywhere so that I may cite it when disputing?

I don't think its possible to (successfully) dispute the derogatory status. After all, the account didn't end in a positive manner.

Any suggestions then? Can I dispute the account as not mine? I do not want 7 derogs on my cr. I would like to buy a house this summer. Won't it kill my chances of getting a good rate?

Not necessarily. It is very unlikely you will get rid of the BK public record, so if you do what you can to get your report as clean as possible (make sure IIB's don't show a balance or anything negative AFTER the BK) you should be off to a good start. Some things may get deleted in the process-I see that as a bonus. And, you'll want to have accounts reporting positively-preferably at least one visa/mastercard type account.

Keep in mind that time is a significant factor in credit scores. As bad things get further into the past, they have less impact. As good accounts get older, they carry more weight. Personally, my goal is to have at least 2 of my 3 scores over 640 by August. Right now, I believe I'm around 600-ish. I know that by June, my most recent late payment-on my student loans-will be 12 months old and so it should hurt a little less, I'll have no inquiries within 6 months of starting the mortgage process, and my newly established accounts will show 6-9 months of good history. I think I should be able to hit the 640, but with the mortgage company I've been researching, I can get approved w/ a 620 so I have a safety net...

In my opinion the basic requirements to re-establish & prepare for a mortgage:

1. Clean up as much as you can
2. Establish positive history (no lates, low utilization)
3. Only apply for things sparingly
4. Be patient...

Any creditor that pulls your credit AFTER they have been notified of your discharge is breaking the law!

They can be fined and held liable in court!


Are they allowed to pull your credit report after you file? Because I'm reviewing my credit report and a collection agency pulled my credit report one month after I filed Chapter 7....

I'm cleaning up my credit,and things are tough but you need to stay on top of it. My credit report had judgments from this previous apartment complex. Matter of fact there were 3 of them. The state court is whom the CB's were verifying the information from. The judgments were paid each time but the apt complex didn't report back to the court that the warrant was satisfied. I called the courts again and they stated that I needed to get a satisfaction of judgment letter from thier attorney. I called the apartment back and they had been sold to another company last year and no one was able to provide me with the attorney because the office manager didn't know where to begin. I call the courts back and they are allowed to only give out so much information. However, you can ask for a report and/or the attorney whom represented the apt complex. Yes, I was able to get that information (name only) and I search the white pages and on-line. Guess what, the attorney did exist.:yahoo: I gave them the docket numbers and they are typing me up a letter as we speak to take to the court and have them to update there records. Of course Minny, Staci, Bkfiler, I will be sending a copy to the CB's once letter is recieved. I'm not waiting for state courts to update anything for me. Long story short, presistent pays off. It will be a little rough, but hang in there. We all prevail at the end. SORRY, SO LONG WINDED.

Should they have known by then? If you only listed the original creditor, not the collection agency, the CA might not have gotten word yet about your BK. If you listed the CA also, they would have known AT MOST 2-3 weeks after you filed.

Are they allowed to pull your credit report after you file? Because I'm reviewing my credit report and a collection agency pulled my credit report one month after I filed Chapter 7....

Should they have known by then? If you only listed the original creditor, not the collection agency, the CA might not have gotten word yet about your BK. If you listed the CA also, they would have known AT MOST 2-3 weeks after you filed.

I think they should have known... there were listed in the creditor matrix... Should I dispute the inquiry with the credit agency?

Also, I was wondering how I should dispute my accounts that were discharged in my bankruptcy. Should I request that it say "IIB" or "discharged in bankruptcy?"

Are they allowed to pull your credit report after you file? Because I'm reviewing my credit report and a collection agency pulled my credit report one month after I filed Chapter 7....


No they are not. They are breaking the law.

I filed Ch 13 on August 30, 2005, and just got my plan confirmed a few weeks ago. I have been working at cleaning up my credit report with Experian and TU, but it has been such a hassle! For 2 of my CC companies, they are reporting a 90+ day late in the month they wrote off my balance. And with Amex, they don't even have the right month and year, they are listing the BK in Oct 2002! So it is making it seem as if I have all these late payments when I really had NONE. I was never late on any of my CC's or car payments up until the time I filed. I had to dispute the same issue with my car lease company because they have a 30, 60, and 90 day late in the last 3 months that I had the car before surrendering it as part of the BK. Finally they updated it, but I am still seeing a 90+ day late showing in the month that they report the "voluntary surrender" even though they assured me, in an email, that they would update their info to report no late payments, just the voluntary repossession. The 30 and 60 day late came off, but not the 90. It makes no sense! When I saw my report initially after the BK, none of these accounts were so screwed up, they just said BK and that was it, and they never listed any late payments that are now showing up.

And then with TU, they sent me a letter after I disputed online that they want me to send a copy of my BK papers with all the included creditors so they can update their records. Should I just send them everything I have?

This is so frustrating, but I want to get it right. It's not fair to have them reporting all this inaccurate information. Also, how do I get them to report the years of positive payment history, some of the cards took my history off altogether! Can they do this? I am just glad that Citibank and Discover actually got it right and are reporting correctly, shame on Amex and MBNA!

I was wondering, a couple of my credit cards are being reported as charge offs in the month they recognized my bankruptcy, can they do this? I want to get my credit report cleaned up as much as possible but am having some trouble. They got rid of the late payments, but the charge off icon is still showing in that last month for Amex and MBNA. Any advice would be appreciated. Thanks!

Jamie

Are you referring to Experian? From what I can tell, the notation they use to indicated "IIB" in the monthly activity area is the same as what they use to indicate a CO.

OTherwise, though, if the creditor is reporting a CO (not just something in how the bureau translates the info) it would depend. If they charged it off and then you filed BK, its correct. If you filed BK first, it is wrong.

yep, if you file before they charge off then they cant show it as a charge off. prob is how do you get the charge off date from them without them lying imo.

Hi first time poster here so go easy on me,

I had good credit but I got sued and received a judgement against me for over $200k, so right before the deadline I file Bankruptcy and on January 31, 2006 got discharged and now the case is also closed.

Now I'm trying to rebuild my credit I bought my Experian credit report via credit expert and see that only Cap One has posted my Bankruptcy and no one else. How much time do they need before they post it in the credit report? If the discharge was on Jan 31, 2006 I figure they received the letters by Feb 7, 2006 is it too early for them to post?

Any way, I disputed my Credit Union account with Experian and in two days the result came out and they are saying that it will remain as is, charged off, with balance and no mention of Bankruptcy? Even though in the public records section of my Bankruptcy it says that my Bankruptcy has been discharged. Please advise??

Creditors are not known for accurate reporting, HighNDry. You'll need to get copies of your reports from all 3 bureaus, and then send in written notice of the problem accounts. It may take more than 1 try, depending on how many accounts/creditors you have.

first of all i would like to thank this site for all the information i have recieved and learned. i filed chapter 7 in oct 05 was financed for a new truck before discharge. checked with trustee he said it was fine, was discharged on 1/06 and thanks to this site i now have learned how it is done. i pulled all 3 cr and was shocked, had i not known about this site i would have went beserk. i started adding up all my disputes and mine alone were 47 and the wifes were close to 80. today i was informed that equifax has agreed to remove almost everything. now i am going after the other cra and look forward to the outcome. i was working with a housing lender until she told me it would cost 700.00 to remove the bad off of my cr. i did it for a fraction of the cost. my goal is to have a house with in the next 6 months and thanks to everyone here i now know the steps to take. now off to the eye doctor i go as there is a price to pay as you learn. i am now crossed eyed., if anyone needs a great collection of dispute letters that i have made for all of my derogs just let me know and i will send them, thanks again

I have a question about disputing my credit report. After three years, we are still trying to get things discharged in the bankruptcy cleared off our credit. I recently noticed a new item on my credit report, but it is for a debt that was included in the bankruptcy, only it has been sent to another collection agency. What can I do about that?

first of all i would like to thank this site for all the information i have recieved and learned. i filed chapter 7 in oct 05 was financed for a new truck before discharge. checked with trustee he said it was fine, was discharged on 1/06 and thanks to this site i now have learned how it is done. i pulled all 3 cr and was shocked, had i not known about this site i would have went beserk. i started adding up all my disputes and mine alone were 47 and the wifes were close to 80. today i was informed that equifax has agreed to remove almost everything. now i am going after the other cra and look forward to the outcome. i was working with a housing lender until she told me it would cost 700.00 to remove the bad off of my cr. i did it for a fraction of the cost. my goal is to have a house with in the next 6 months and thanks to everyone here i now know the steps to take. now off to the eye doctor i go as there is a price to pay as you learn. i am now crossed eyed., if anyone needs a great collection of dispute letters that i have made for all of my derogs just let me know and i will send them, thanks again

I would LOVE copies of the dispute letters...could you email them to me??

I filed Ch 13 on August 30, 2005, and just got my plan confirmed a few weeks ago. I have been working at cleaning up my credit report with Experian and TU, but it has been such a hassle! For 2 of my CC companies, they are reporting a 90+ day late in the month they wrote off my balance. And with Amex, they don't even have the right month and year, they are listing the BK in Oct 2002! So it is making it seem as if I have all these late payments when I really had NONE. I was never late on any of my CC's or car payments up until the time I filed. I had to dispute the same issue with my car lease company because they have a 30, 60, and 90 day late in the last 3 months that I had the car before surrendering it as part of the BK. Finally they updated it, but I am still seeing a 90+ day late showing in the month that they report the "voluntary surrender" even though they assured me, in an email, that they would update their info to report no late payments, just the voluntary repossession. The 30 and 60 day late came off, but not the 90. It makes no sense! When I saw my report initially after the BK, none of these accounts were so screwed up, they just said BK and that was it, and they never listed any late payments that are now showing up.

And then with TU, they sent me a letter after I disputed online that they want me to send a copy of my BK papers with all the included creditors so they can update their records. Should I just send them everything I have?

This is so frustrating, but I want to get it right. It's not fair to have them reporting all this inaccurate information. Also, how do I get them to report the years of positive payment history, some of the cards took my history off altogether! Can they do this? I am just glad that Citibank and Discover actually got it right and are reporting correctly, shame on Amex and MBNA!

My suggestion?

DO NOT SEND THEM ANYTHING!

It is their responsibility and REQUIREMENT under the law to do the work and research what you tell them. If they don't do this, you are entitled to sue. You don't have to send them anything, or fax them anything, except to verify who you are.....


Keep disputing. It is a long process, but it is SOOOOOOO worth it!

I filed a bk that was dismissed in 2003 because I failed to complete all the paperwork and I filed againg in 2005 and was dischared in nov, I would like to know is there a way to get the dismissed bk off my credit report?

I do not believe so. The BK filing reamins on your credit report, even if it was dismissed.

What reason is everyone disputing if you don't mind me asking?

I have been going with "NOT MINE" on everyone of the one that reports wrong.
Should I be disputing reason " IIB " instead

I am trying to understand the best way to do this , at first I felt weird about disputing this way but was told they report incorrectly so don't feel bad ..
so I have been consistant on disputing NOT MINE even The BK which only worked with Experian by the way...
So I guess what I am asking is what now ? It has been since Jan 06
on -going with the CRA 's ..
So to now dispute IIB would be giving and admitting information and not to mention I have been denying everything even the BK...
Please help me in this situation... I have learned a lot from this board what the DO'S AND DON'TS are .. I hope I have not made a mistake with the CRA ... it seems they are just coming back quicker with the verified status... Anyone that can give me advice on this one would be greatly appreciated I feel like I am at a stand still.....

I am grateful I found this site! :)

Filed Ch 7 12/04--discharged 03/05. There are a few creditors that have not reported the accounts as "included in the bankruptcy". I have learned from this forum what to do about that...thank you. I need to know if they are obligated to delete the CO's from my credit report (Exp) until this current month. Unbeknownst to me these creditors have been reporting these accounts as derogatory and chargeoffs as recently as this month! Please help if someone can to clarify what they are allowed to report after the discharge date and what they are obligated to remove due to the discharge. Some even show lates after discharge. Do I writed directly to the creditors or the CRA?

Thanks so much in advance for this service.

Ratings NOT TO Accept:


WAGE EARNER BANKRUPTCY






So does this mean we should dispute the accounts that say Wage Earner Plan ? Several of his and mine say this. Almost all state paid as agreed.

Hi new here filed 12/05 discharged 4/06 just trying to update my credit report and trying to figure out what is legally allowed and not allowed to be reported once bk is discharged.
for example we signed our house back over to the bank (incl. it in bk) and it is listed with current negative remarks on our report with foreclosure proceedings started on it as of 7/06???? how can you forclose on something that is incl in bk? or is that the norm and it also lists account history shouldnt that be wiped off and all it says is incl. in bk with o balance?

Another thing our Verizon Wireless is listed with credit limit 571 recent showing o balance as of july 2006 and it says status: discharged through bk chap. 7/account charged off. Account history: debt incl in chap 7 bk
are they allowed to say this?

i guess im just wondering if it should say incl in chap 7 bk 0 balance and have no credit history etc. or cant hey still have that showing how late you were etc...

love this forum i must say you all are very supportive of eachother and helpful. Great to be here! :) Thank you all for your time....



I am grateful I found this site! :)

Filed Ch 7 12/04--discharged 03/05. There are a few creditors that have not reported the accounts as "included in the bankruptcy". I have learned from this forum what to do about that...thank you. I need to know if they are obligated to delete the CO's from my credit report (Exp) until this current month. Unbeknownst to me these creditors have been reporting these accounts as derogatory and chargeoffs as recently as this month! Please help if someone can to clarify what they are allowed to report after the discharge date and what they are obligated to remove due to the discharge. Some even show lates after discharge. Do I writed directly to the creditors or the CRA?

Thanks so much in advance for this service.

How do i add a consumer statement in my report?

What companies is everyone using to pull and monitor their credit? I have been looking at TrueCredit.com and CreditKeeper.com and am trying to figure out which to use. Are there other good ones out there I should consider?

Sorry if this is the wrong area... I didn't see anything for this

I only filed few days ago, so nothing major on my c-history that I need to dispute.
However, Experian has some address listed in there that I never lived at. They got the town right, but address is wrong. Also, work name is also wrong. The other agency, has my original name and then below that they misspelled my name. I know thats due to furniture store misspelling my name when I got the credit there. My question is, are these big things I need to go after or just let it go ?

Make sure you are keeping a papertrail!
That is most important.

So, I just pulled all three of my Fico scores and reports from Myfico.com since they're having an anniversary sale on all their products.

- 500 Transunion
- 565 Equifax
- 611 Experian

Oddly enough, Experian has the most accurate report of all three. I've disputed things on all three of the reports though that should help. An account I had with an electric provider still shows a balance and as a bad debt/write off/collection on all three reports. It should report IIB and I've disputed that. I also talked to my bank who financed my car and since I did a reaffirmation with them they're going to restore my online account access and return it to a regular account and remove the bankruptcy off of it. So, I'll give it 6 months and see where my scores are then.

You guys are so awesome! I was looking for a forum just like this! Thank you for sharing all of your knowledge!

can someone clarify if lates should not be reported after file date or discharge date after a CH7?

I want to add this on today.

I can not stress the importance of this enough.

Absolutely, positively, DO NOT dispute online. DON'T DO IT. You have no evidence of it being done, and it's the evil bureaus word against yours.

Make sure to document EVERYTHING. And I mean everything. ESPECIALLY when dealing with Transunion. Send everything certified, and save copies of anything that you send them. Don't bother calling them either. The reps they have don't speak a word of English, and you can't understand them.

I found out today that Transunion isn't releasing to me my credit score. Now I am fighting mad and furious.

PLEASE document everything when disputing. Then if it needs to be taken care of legally, you have the proof to go after them for breaking the law.

As to "do not dispute online", why not make a screen shot copy of the page showing the dispute was filed? Won't that serve as proof that you did indeed dispute an item?

Ok...I am new here. WE filed BK last August and it was discharged 12/2007.

In Feb of 2008 we had pulled our credit reports and mailed letters (not certified) to the 3 CRA's. Pointing out what was no longer accurate on our credit reports. We got letters back from all of them saying that it was fixed. Well...we waited and waited...saving up money for a down payment on a used car.

Well...to our surprise all the negative information is STILL showing up on both mine and my husband's credit reports!

My question's are these....

1. To dispute all the wrong things again...what all should I include in my mailing (this time certified) to them? A copy of my original filing? A copy of the discharge?

2. How should I word it? Line by line tell them what accounts are wrong...and what they should say?

3. Should I only contact the 3 CRA's? Or should we try and contact the original companies that we had the loans/CC's through?



Thank you for any replies!

Quick question: we are disputing some info on our reports and what is the absolute fastest way to get a response?

I got free credit reports from all 3 bureaus on www.annualcreditreport.com. I disputed all the negative information I had from each online, and within a month all 3 either removed or updated the credit report. From what I've read most people send a letter directly to the credit bureaus, but thankfully this method worked out for me.

Question: I filed bankruptcy a year ago and just looked at my credit report. A couple say chapter 13 bankruptcy. Most say "charged off as bad debt" even tho they are included in my bankruptcy. This includes my credit union. Should it say this,or included in bankruptcy?

I looked at the actual reports at myfico.com.

How should it show for Chapt 13 people? For example, my car that was repossed says I owe $17,000 but in the plan I am only liable for owing $1,800. It shows Repo money may be owed by consumer.

Should the correct way say balance owed $1,800 included in chapter 13???

Hi guys/gals,

I notice on one of my credit reports from experian that its reporting as "charge-off". I notified my attoney about the situation and he actually doesn't work for the firm anymore and I spoke to his assistant and he told me to write a formal letter to experian stating that it should reports differently as "discharge" or something like that. I was wondering if I need to write the letter or would the attoney provide one for me? From speaking to him it sounded like I need to write one myself.

If not, would there a good template I can use for this letter online for experian to change the "charge-off" to report correctly? Because I want to make sure I have the correct "lingo" for them to change the status. Thanks!

Go to this site and look up the correct dispute letters: www.creditinfocenter.com

Yes you have to write the letters yourself :) the attorney's don't do this unless they are taking a creditor to court for sanctions.

Go to this site and look up the correct dispute letters: www.creditinfocenter.com

Yes you have to write the letters yourself :) the attorney's don't do this unless they are taking a creditor to court for sanctions.

Cool thanks for the info!

first of all i would like to thank this site for all the information i have recieved and learned. i filed chapter 7 in oct 05 was financed for a new truck before discharge. checked with trustee he said it was fine, was discharged on 1/06 and thanks to this site i now have learned how it is done. i pulled all 3 cr and was shocked, had i not known about this site i would have went beserk. i started adding up all my disputes and mine alone were 47 and the wifes were close to 80. today i was informed that equifax has agreed to remove almost everything. now i am going after the other cra and look forward to the outcome. i was working with a housing lender until she told me it would cost 700.00 to remove the bad off of my cr. i did it for a fraction of the cost. my goal is to have a house with in the next 6 months and thanks to everyone here i now know the steps to take. now off to the eye doctor i go as there is a price to pay as you learn. i am now crossed eyed., if anyone needs a great collection of dispute letters that i have made for all of my derogs just let me know and i will send them, thanks again
Yes, I would love to have a copy of those dispute letters. My email is kat_huizar@yahoo.com. (If you still have them now.) Thank you.

I have a question about my credit report. I was discharged Chapter 7 02/09 and checked my credit report a few days ago. Capital One is reporting "Account transferred to another office" instead of IIB. Who do I contact to have this corrected, Experian or Capital One? I have read the post but was a little confused. Also, the accounts that were listed IIB are reporting the dollar amounts on Limit and High Balance but have the balance as zero. Does this matter and do these numbers stay on there? one other thing, on the payment history section the last entry has KD (Key Derogatory). Is this normal after the BR? Love this site!!!

I have a question about my credit report. I was discharged Chapter 7 02/09 and checked my credit report a few days ago. Capital One is reporting "Account transferred to another office" instead of IIB. Who do I contact to have this corrected, Experian or Capital One? Start with Experian. If they confirm the status is accurate, move on to Capital One. Contact Experian (and if necessary CapOne) in writing by sending registered, return receipt letters to create a paper trail.

Also, the accounts that were listed IIB are reporting the dollar amounts on Limit and High Balance but have the balance as zero. Does this matter and do these numbers stay on there? As long as the accounts are IIB and the balance is zero, that's all that really matters.

one other thing, on the payment history section the last entry has KD (Key Derogatory). Is this normal after the BR? If KD was accurate when you filed, then the original creditor can keep that designation because it was the truth before you filed. Is that the case?

1rprn, thanks for your response!! No the KD is the last entry and was entered in the months after I filed.

All 3 credit reporting agencies allow you to contest anything on your credit report right online for free. No need to send letters anymore. It is really simple. Try it this way first, then if you have problems, send the reporting agency a letter. If they can't fix the bad entry, then contact the credit card company directly.

All 3 credit reporting agencies allow you to contest anything on your credit report right online for free. No need to send letters anymore. It is really simple. Try it this way first, then if you have problems, send the reporting agency a letter. If they can't fix the bad entry, then contact the credit card company directly.

However, last I checked, if you use the online dispute, part of the disclosure waives certain rights under FCRA. (Fair Credit Reporting Act). For routine disputes, i.e. Chase is still reporting Balance Due, after a BK discharge and it should be reported as IIB, then online is ok for that. But if you have many Junk Debt Buyers and Collection Agencies on your credit report, I would do the letters to preserve your rights under FCRA.

We filed Ch 7 last year and were discharged in Sept '08. We reaffirmed our house & our vehicle and paid them both off in March of this year. Both of these are still showing as "included in bankruptcy". Is this correct? Shouldn't it show that they were both reaffirmed and paid in full rather than included? I would think this would help improve our credit as it shows that we really were trying to do what was best.

Thanks!

Hi everyone, longtime lurker here! I have read through this thread and I am still a bit confused.

Am I correct in thinking that it is ok that my credit reports list my discharged debts as long as it is listed as "included in bankruptcy" and at a $0 balance? Or should I be trying to get them all removed completely?!

Thank you all for your help!

Am I correct in thinking that it is ok that my credit reports list my discharged debts as long as it is listed as "included in bankruptcy" and at a $0 balance? Or should I be trying to get them all removed completely?If the debts are legitimate, were included in your bankruptcy, and discharged, then you want to ensure that all the credit agencies list those debts as IIB (included in bankruptcy) with a balance of zero. Send disputes in for any account that isn't showing that way. Keep checking your credit reports because some accounts may return to the incorrect status after a few months.

Frankly, the only way to get legitimate debts removed from your credit reports is to.....well.....lie to the credit agencies telling them repeatedly that the debt is "not yours", even though it is. Many filers find that kind of self-serving dishonesty morally wrong. There are many shyster-type credit recovery companies out there who promise to do just this for you or you can do it yourself.

Whether you want to try to fool your credit agencies into deleting your legitimate "bads" or not depends on whether you can still look yourself in the mirror and sleep at night if you choose to do it.

Whether you want to try to fool your credit agencies into deleting your legitimate "bads" or not depends on whether you can still look yourself in the mirror and sleep at night if you choose to do it.

And that fact that if you get legitimate bads deleted and then get credit -- the "bad" could be reinserted at any time that creditor decides they have sufficient information to validate.

Bad gets reinserted, new creditor runs their usual account review and sees it, bam account gets closed or line reduced and interest rate upped.

I'd rather work on proper reporting and rebuilding. Credit is fickle enough in this market I wouldn't want to be constantly afraid a reinsertion crash me.

If the debts are legitimate, were included in your bankruptcy, and discharged, then you want to ensure that all the credit agencies list those debts as IIB (included in bankruptcy) with a balance of zero. Send disputes in for any account that isn't showing that way. Keep checking your credit reports because some accounts may return to the incorrect status after a few months.

Frankly, the only way to get legitimate debts removed from your credit reports is to.....well.....lie to the credit agencies telling them repeatedly that the debt is "not yours", even though it is. Many filers find that kind of self-serving dishonesty morally wrong. There are many shyster-type credit recovery companies out there who promise to do just this for you or you can do it yourself.

Whether you want to try to fool your credit agencies into deleting your legitimate "bads" or not depends on whether you can still look yourself in the mirror and sleep at night if you choose to do it.

Oh goodness, I would never lie about it! I just wanted to make sure it was ok.

Here is another question I have if anyone could please answer:

I just signed up for myfico.com and got my Equifax Fico score and report. My equifax report is clean, all show as IIB and at zero balance. However, myfico has it as reporting that I have eight serious delinquencies (60 days past due or more). Now I realize that when I went into starting my bankruptcy with my attorney, I stopped paying my bills because I was supposed to. So is that correct that I have to live with it showing I am a delinquent payer or can I write to them and have them list me with no delinquent payments?

...myfico has it as reporting that I have eight serious delinquencies (60 days past due or more). Now I realize that when I went into starting my bankruptcy with my attorney, I stopped paying my bills because I was supposed to. So is that correct that I have to live with it showing I am a delinquent payer or can I write to them and have them list me with no delinquent payments? Since the deliquencies happened before you filed, the lates are legitimate and are reporting correctly.

After your bk closes and you continue to make on-time payments for everything that's reporting to the agencies, the significance of the lates will decrease. The passage of time and consistent on-time payments will improve your credit scores.

Ok
IIB
0 balance

NO charge offs
no Balance on IIB

lates prior to filing ok to report but not after FILING or DISCHARGE ?