Questions about post-BK

[Priapism]

It's funny, they tell you that a BK stays on your credit 7 to 10 years, and you can even begin to get loans after 2 or 3 years.

Well what happens when you file BK in November 2007, and one of your creditors decides to wait nearly a year (July 2008) to report it?

In fact, I named about 6 debts in my bankruptcy, and one by one, every few months, they "got around" to reporting it. So I have a "new bankruptcy" (basically) on my credit report in November, January, March, April, May, and now July.

Its july 2008 now. I guess whereas everyone else waits 10 years, I have to wait 11 years?

Is this something I can dispute with the credit agencies? It just doesn't seem fair. Its a long, upsetting 10 year process to rebuild your credit, and its just a twist of the knife for a creditor to wait a YEAR to report the BK ...

Something doesn't seem right.

Now that im 9 months post-bankruptcy, I actually went in to pull my FICO score. It was lower than it was a month after my bankruptcy. Im down to 603 now, and I was at 680 after the BK was entered. Why? Because creditors have continued to put NEW derogatory marks on my credit for the last 9 months even though they should have stayed away from my credit report a long time ago.

[magyar123]

If the "Public Notice" or whatever you call it, reflects the right date, don't worry about it. Within the CRAs' databases the date of your filing is reported, and not when creditors get around to reporting it.
To get instant corrective measures, just dispute the dates as being wrong. Enclose a copy of your original filing document - and tell them in no uncertain terms that you filed in 2007 and NOT in 2008.

[Flamingo]

I have found in the almost two years since our Chapter 13 discharge dates will change for whatever reason on some of your creditors. I am not a credit expert and I just cannot believe how some of the changes occur - I believe it is sheer input laziness or stupidity and I wonder who these places hire to input information in your credit report; or that they are so busy with disputes they just input the wrong information.

You many have strange this appear on your credit reports after your discharge. They will almost always involve changes in your filing date, discharge date or new dates will appear as to a "First Date Major Deliquency Was Reported" which could be many months or over a year after your discharge. If you dispute items, other things and dates can also change in your report as things are updated. Watch your report carefully after a dispute - things may change that were correct before. I have been fighting with Experian for several months over their continual changing of our filing date in Chapter 13 (they insist it was 2006 although it was in 2002) and I have provided documentation to them several times.

Just keep an eye on things over the years to come especially if you dispute any item in your report cause it could cause others to change also.

Best of luck to you.

[Priapism]

Thanks - i guess part of my REAL question was - *can* i dispute something like this? Your responses imply yes. But I guess the reason Im asking is because I remember being told that creditors have "X" number of months or years to report. They dont HAVE to report right away. They *can* wait up to 1 or 2 years just to report a 30 day late if they want.

Is that correct information I am remembering?
Does it qualify for Bankruptcies (seems like they'd have a special rule that it couldn't for a BK)?
Can I really dispute these dates by simply saying...

"My discharge was November 2007, I expect all BK-related dates to be no later than November 2007 on my credit" ?

[Flamingo]

You cannot dispute information on your credit report that is not yet there. When/if it appears, and any information on that account is incorrect, you can dispute it. As to your accounts filed in your BK, when/if they appear on your credit reports and the dates are incorrect, dispute the dates. It doesn't matter when the items is reported on your credit report by the creditor; an account included in your BK will be removed off your credit reports 10 years after filing if it is a Chapter 7 or 7 years if a Chapter 13. When you get to that point in the future, get your credit reports a few months past the 10 year or 7 year point of your BK filing date (whatever Chapter you filed) and ensure they start to get taken off. Dispute if they are not removed.

[Priapism]

Your suggestion is that I wait 10 years and then dispute if they don't come off.

The problem isn't 10 years from now. The problem is right now.

Despite being 9 months post-BK right now, I haven't been able to start rebuilding my FICO score.... because someone JUST reported and closed out another BK account.

That is the problem.

Not what happens in 10 years.

So again - im asking - can I dispute the reporting dates so that they are not so "RECENT" ?

[Flamingo]

Your suggestion is that I wait 10 years and then dispute if they don't come off.

The problem isn't 10 years from now. The problem is right now.

Despite being 9 months post-BK right now, I haven't been able to start rebuilding my FICO score.... because someone JUST reported and closed out another BK account.

That is the problem.

Not what happens in 10 years.

So again - im asking - can I dispute the reporting dates so that they are not so "RECENT" ?

No, you are misunderstanding what I am stating. You dispute items now if they appear incorrectly on your credit report. In 10 years after the time period has passed for all BK related items to come off your credit reports you watch to ensure all items are taken off; if they are not, you dispute to ensure they are taken off. BK related items will not be removed prior to 10 years on your credit reports; if the information listed is incorrect, that can be disputed and changed at any time. Hopefully that makes it more clear for you.