Credit report changes already

[micah270]

I filed 8/18/08 and I just got a copy of my credit report and some of my creditors have already reported IIB and zero balance...is this normal...I haven't had my 341 yet (9/22/08)...will this change and they may come after me or is this going to stay the same...have they given up...

[Confused14]

Great question! I actually filed 8/13/08 and received letters about 1 week later from Amex stating due to my petition of BK, they are cancelling my accounts. I haven't checked my credit report yet to see if I have anything like yours.

[JRScott]

No it won't affect your 341. In fact it could help you if it indicates they aren't going to fight you for it.

[getouttadebt]

They have probably charged it off, but have sent it to an internal BK department that monitors all active BK filings where they have been named in the matrix. If something goes wrong and your case is dismissed, chances are you will be contacted by one of their third-party collection agencies. It happened to us where my wife had a Capital One card with about $8k on it and our first case was eventually dismissed. We refiled and our second case is almost finished -- we got a letter from a 3rd party collection agency for Capital One. We told them they are violating the automatic stay and they said our case was dismissed -- to which we told them we immediately refiled and they should contact our attorney, but that their actions were illegal during an active BK case.

So, just because your credit report is showing $0 and IIB for that creditor, they will still come after you if your case is dismissed. Chances are you will be fine though, so don't let my story scare you! Today is the last day for objections in our 2nd case, so we are looking forward to finally getting this BK thing behind us.

Good luck,
getouttadebt

[Never_Again]

That is interesting. I have a 341 meeting the same day as you (filed 2 days later), and I had taken a look at my credit report. A medical collection was showing as "Discharged in Chapter 7 bankruptcy." Many others were showing "Petition for Chapter 7 bankruptcy" but most have not updated yet.

Something to watch...

[Keebler]

Most of mine updated pretty quickly too. A need a vehicle because I'm planning on surrendering all of them and I got turned down for a loan. I used the denial to pull all of my reports and I went ahead and disputed the few things that weren't correct. I know it's all too soon but I see no particular harm.