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Cleaning Up Your Credit Report

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  • They should be described as Included in BK or IIBK.
    Hope this helps
    [Advertising links in signature removed by moderator. Not allowed per forum rules.]

    Comment


    • A few of the accounts that were in BK are listed under condition as "derogatory." They do specify that they were included in the BK in the remarks section. Balance also shows $0. Is the derogatory part correct? I'm wondering because some of the accounts listed in BK show as "closed" instead of derogatory. Should I dispute?

      Comment


      • NO! They show derogatory because you BK'd them! You got lucky with the other accounts that were BK'd and not showing derogatory! Do those accounts show IIB, probably not since they're not derogatory.

        The worse thing people do is dispute without knowing! It would be terrible if you disputed and the accounts showed more negatives! It happens. Check out credit boards forum or myfico forums!

        Comment


        • A few things to add - certified mail is a must, also make sure to request a return receipt. Also, it is a good practice to include your consumer disclosure with the disputed information circled or otherwise marked. Finally, do not forget to dispute inaccurate information which may not seem to harm your score, such as address or employment information, duplicate accounts, unauthorized inquiries, or incorrect credit limits. The algorithms used by the CRAs are kept secret, so it is practically impossible to understand how such information may adversely affect your score, but it may.

          Comment


          • Originally posted by ConsumerAtty View Post
            A few things to add - certified mail is a must, also make sure to request a return receipt. Also, it is a good practice to include your consumer disclosure with the disputed information circled or otherwise marked. Finally, do not forget to dispute inaccurate information which may not seem to harm your score, such as address or employment information, duplicate accounts, unauthorized inquiries, or incorrect credit limits. The algorithms used by the CRAs are kept secret, so it is practically impossible to understand how such information may adversely affect your score, but it may.

            ConsumerAtty- I am a tad bit confused, which is not unusual. Some of my accounts say "unrated" or "bad debt". Is this something I should dispute? All of my accounts of course were included in bankruptcy. There is also an account for 89 dollars that is under "collections".... this wasn't the case when I filed my bankruptcy so how can it be there now that I am discharged?

            I am having a difficult time understanding what is okay on my report and what isn't in regard to how it should read after a bankruptcy. And I guess I have such poor feelings toward myself for the whole bankruptcy having to happen that I feel that all the negative crap, regardless of how I report it, is the punishment I get. But I have to do something . MY insurance company has turned this into a way to profit off our economical hard times and effectively raised my home owners almost double, as well as my auto insurance. Wow... I didn't know that my husband being laid off and the business he worked for going out of business, causing him to not have a job for 3 YEARS.... makes us a higher risk for future claims due to us choosing to stay current on our home, basic needs and keeping our insurance current on our cars. We didn't pay our credit cards... we had to file bankruptcy...but we not once were late nor did we default on our insurance..... Are we sure it isn't the insurance companies running this country?????
            My kids better not put my FICO score on my headstone~ (quote by dspii)

            Comment


            • We were just recently discharged and I pulled my credit report to see what mess I have to clean up. Under my status, where TU has me listed as Closed...Equifax and Experian still list the account as delinquent on all my accounts. The balances are showing up at 0. Is this something that needs corrected?

              Thanks!
              5/9/11 - Filed CH7 - No Asset
              7/1/11 - 341 Meeting
              9/1/11 - Discharged; 9/22/11 Case Closed

              Comment


              • My chase account is showing charged off on all three reports with a $0 balance. I was 10months delinquent and the account was charged off before I filed. It says nothing about BK, just sold and charged off. Is this correct? Thanks

                Comment


                • Well not only does Transunion NOT even have my chapter 7 discharge listed, it doesnt even show that I filed back in August of 2011. I called and the guy on the phone said I would need to contact the state of arizona and ask them to report it!

                  Comment


                  • Question: Have things changed as far as disputing items after a BK. I ask because we filed back in 2003 and when I did the disputes, the accounts literally disappeared from our credit reports. Not the Public records, but the credit accounts that were included. Now, I am hearing these will not be removed from our reports, just that they will show incuded/discharged in bankruptcy....anyone know? ( we were just discharged in 12/2011 from our second, yes our second thime filing ch7)

                    Comment


                    • sassiebaz i might be missing something but you called to be sure TU has your BK7 listed? Am I reading that correctly? If yes - your TU doesn't show a BK at all?

                      telco95 - chargeoff is better than a IIB. I would leave it.

                      Comment


                      • Yes, that's exactly what I am saying. Transunion does not show my ch7 petition, nor does it show my discharge. It does still show my ch13 we filed in 09 and had later dismissed....and they are telling me I need to have the state/trustee office report it...

                        Comment


                        • Originally posted by df04527 View Post
                          sassiebaz i might be missing something but you called to be sure TU has your BK7 listed? Am I reading that correctly? If yes - your TU doesn't show a BK at all?

                          telco95 - chargeoff is better than a IIB. I would leave it.
                          I have a question... what if it says both charged off and Included in Bankruptcy? Is that allowed? Or is it unfair? I am so confused on this whole "cleaning up the credit report stuff"....
                          My kids better not put my FICO score on my headstone~ (quote by dspii)

                          Comment


                          • Pardon me for not having looked through this thread to see if this has been asked before---but
                            I've just discovered something about my account with the three major credit reporting companies
                            that mystifies me.

                            I checked Credit Karma recently and found a credit card currently listed that was included in my
                            C7---and I wrote CK who said that they got the info from TU. I then ran my annual credit report
                            at TU and found said card IIB---so I've filed a dispute with TU to straighten this out.

                            Meanwhile---I went ahead and downloaded my free annual report at TU/EQ/EXP---and I find that
                            7 of the 9 accounts from my BK petition have been correctly reported as IIB. I had originally listed
                            7 credit cards/one loan/one line of credit---along with my WF first mortgage and WF HELOC---so I should
                            have 9 accounts listed as being in IIB.

                            However---two accounts that I listed in my petition are totally missing at all three companies---
                            and they are Citibank and CitiFinancial. I then went to Pacer and ran the matrix for all addresses
                            included on my petition of Nov. 14, 2010---and both Citi's are there.

                            I can't file a dispute with these CRA's---when they never received the details---and as further info---
                            I was discharged as of March 1, 2011---so it's been almost a year for this info to have been reported.
                            In addition---I *do* list a CitiFinancial loan on all three reports that was closed in 2009---since I did a refi at that time---
                            and it's the refi loan that has not been reported as being IIB---when it was on my petition.

                            Can anyone tell me the procedure to follow to clear up this matter?

                            Thanks.

                            Comment


                            • It is better if they don't show up, why would you want them there?
                              7-2-2009 Filed
                              8-28-09 341 Concluded, no assets
                              10-28-09 DISCHARGED/CLOSED!!!!

                              Comment


                              • I am really at my wits end. !
                                I thought I cleaned my credit report ,but last week I attempted to apply for a mortgage ,and wells fargo shows a balance for a mortgage ( the full amount)
                                The house was forelosed in may 09, and we even received a small refund !!!!
                                I disputed it and it came back valid. ! ( only on 1 credit report )
                                Where to go from here ?
                                Our broker is very confident on the approval of our fha lan ,but need a letter of explanation to file when actually applying for the loan .
                                filed chap 7 pro se 09/15/09
                                341 meeting 10/19/09 continued
                                2nd 341 meeting 11/09/09 concluded
                                discharged : 12/21/09 closed :01/08/10

                                Comment

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