Open vs. Closed Accounts?

[want_a_house]

If a BK was discharged, does an account that remains OPEN after stating IIB or discharged have a negative impact on one's credit score? In other words, should the account read, "Closed"?

[Flamingo]

Any account discharged in a BK always gets closed out and creditors viewing your report know that account is not available for use.

[bkdone]

If a BK was discharged, does an account that remains OPEN after stating IIB or discharged have a negative impact on one's credit score? In other words, should the account read, "Closed"?

You sound as if one of your accounts remains 'Open' although you included that account in your BK, right? It may be an oversight on the creditor's part, if in fact the account is really open and available for your use. Or, it could just be an error in status by the credit bureau.

For example, I have an account right now that shows 'Closed' on all my credit reports, but the account is open and I just used it a few days ago.

If you are not sure, call the customer service number for that account and put in your accout #. The automated system will tell you if its open or not.

[HHM]

I am not sure there is any benefit or detriment.

From a practical standpoint, you probably do not want to USE an account that is IIB since, odds are, the payment history and the "paid as agreed" entry, etc, will not get reported, so you are not helping your credit by using an open IIB account.

I suppose, if the account is relatively old, you may want the FICO to calculate the account as "open" to lengthen your credit history. But, I don't think this is something you need to spend time disputing, one way or the other.