TU reporting after chap 7 discharge....

[ssc2761]

Hi all, I took a look at my recent TU report and some of my accounts are reporting as follows: Remarks say IIB, balance is zero, past due is zero, but the pay status section states Payment after charge off/collection. On my accounts that seem to be reporting normally, the pay status says unrated. Do I need to dispute this issue and if so, what dispute reason do I use to the CRA's? Also does the reporting with the pay status of Payment after charge off/collection, affect my score? Anybody have any suggestions on this one? I just don't know of those accounts are reporting correctly.

Another account in the pay status states 120 days past due, but remarks say chapter 7 BK and balance is zero and past due is zero. Any ideas if I should dispute the pay status? Or is the fact that all the accounts state IIB in the remarks section good enough?

Please help!!!!!!!!! Thanks!!

[ssc2761]

Anybody have any input on TU's reporting? I just need to know whether to dispute or not, and the reason I use to dispute. Thanks!!!!!

[ssc2761]

Anybody on this one? MOderators? Thanks all!!!

[ConsumerAtty]

A violation of the FCRA?

This reporting may be a violation of the Fair Credit Reporting Act (FCRA).
15 USC 1681E(b) provides as follows:

Whenever a consumer reporting agency prepares a consumer report it shall follow reasonable procedures to assure maximum possible accuracy of the information concerning the individual about whom the report relates.

If the reporting is inaccurate, you should dispute it in writing via certified mail, return receipt requested.

[TBA]

Hi,

I am not sure that i have all the answers, or even the right answers, but i will try to answer part of your question. I think the pay status should reflect IIB, and not just the "remarks." It has been a while since i really honed in on TU and how they report into each section - so dont quote me on this, but i think that is the way it should appear.

A pay status may show unrated because you did not reaffirm the debt (this is not really a reason to reaffirm, per se) and the creditor is not reporting your pay history to the bureau. That would be something between you and your creditor. The bureau can only report what is being reported to them.

As far as how much these changes will impact your score - why are you trying to improve your score "right now?" Or is this more of a long term goal? Long term, definitely work on getting it fixed. Short term, leave bad debt alone. If you change a date on an old debt to bring it current (i.e. iib status that discharged within the last year) - even as paid, it is worse on your score than having it old and unpaid. Work on replacing old bad with good new. As things age, by two or three years, they have much less of an impact than you realize on your score if you have continued to build good new. If you dont have good new to replace old bad, you may struggle a bit with your score for some time until you build good new.

There is a great website put up by the score developer, fair isaacs - myfico.com - use the credit education section to help understand how your score will be impacted.

Hi all, I took a look at my recent TU report and some of my accounts are reporting as follows: Remarks say IIB, balance is zero, past due is zero, but the pay status section states Payment after charge off/collection. On my accounts that seem to be reporting normally, the pay status says unrated. Do I need to dispute this issue and if so, what dispute reason do I use to the CRA's? Also does the reporting with the pay status of Payment after charge off/collection, affect my score? Anybody have any suggestions on this one? I just don't know of those accounts are reporting correctly.

Another account in the pay status states 120 days past due, but remarks say chapter 7 BK and balance is zero and past due is zero. Any ideas if I should dispute the pay status? Or is the fact that all the accounts state IIB in the remarks section good enough?

Please help!!!!!!!!! Thanks!!

[df04527]

On the "real" bureau records - those remarks do not display - those remarks also do not play in to your score calculations. Remember you are using a third party reseller of credit bureau data packaged up to their liking - they chose to display those remarks. The "real" bureau records (the ones that really matter in determining violations) do not display to a potential creditor.

Been there done that. It is also noted to not just be Transunion - it can happen on all of the bureaus and again it is because of the third party reseller displaying the data how they want.

As long it is IIB and zero balance - your good.