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Late payments reported on credit reports even though I was never late?

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  • Late payments reported on credit reports even though I was never late?

    Hi everyone.. long time lurker, first time poster!

    I filed BK Chapter 7 no asset case on 11/14/2017. Due to be discharged around 02/20/2018 (I am in awaiting discharge status). I checked my credit reports and see late payment reporting for the months of December and January. I was current on all accounts before the date of filing BK and never had missed a payment.

    Whats the best way for me to get these fixed, since I know it's not allowed to report late payments for months after the BK was filed? Also, should I attempt to work on this now or wait until discharge? Thanks so much!

  • #2
    You can simply dispute the entries. If you filed bankruptcy and then didn't pay December and January, then they are technically late. However, the entry in your credit report at the credit bureau should show as "Included in Bankruptcy" (IIB), with a $0 balance, and no payment history. You can file a dispute now, or wait until the discharge.
    Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
    Status: (Auto) Discharged and Closed! 5/10
    Visit My BKForum Blog: justbroke's Blog


    I am not an attorney. Any advice provided is not legal advice.

    Comment


    • #3
      Thank you for the reply, but I have ready from many sources that say once the bk stay is in effect they no longer are allowed to report lates. I was not late when I filed the BK

      Comment


      • #4
        Originally posted by msi1337 View Post
        Thank you for the reply, but I have ready from many sources that say once the bk stay is in effect they no longer are allowed to report lates. I was not late when I filed the BK
        That is why justbroke suggests you dispute the entries. The post-filing late payments should be removed. But, I have heard of people having difficulties getting them removed. Start with a dispute.
        LadyInTheRed is in the black!
        Filed Chap 13 April 2010. Discharged May 2015.
        $143,000 in debt discharged for $36,500, including attorneys fees. Money well spent!

        Comment


        • #5
          Originally posted by msi1337 View Post
          Thank you for the reply, but I have ready from many sources that say once the bk stay is in effect they no longer are allowed to report lates. I was not late when I filed the BK
          This is not necessarily true until you receive a discharge. There are some theories, and cases, that support the underlying premise that continuing to report you to the credit bureau as being late, is a form of an attempt to collect debt (by coercing you to pay or by destroying your credit). This is why most creditors either remove the entire tradeline from all the bureaus, or zero out the account and change the status to "Included In Bankruptcy" (IIB).

          Not to get into the specific of why there are differences and discrepancies on whether a creditor can report during "pendancy" of a discharge, lets just say that there is not a lot of caselaw. It would have to be fact specific and a case where the creditor was being vindictive. My credit union reported me delinquent for months during my Chapter 13 despite multiple disputes. Then one day, mysteriously, they removed the entries from my credit report. I did not go running into the court screaming "foul" or that they were violating the automatic stay (in an active Chapter 13 case with a discharge pending) because the caselaw is just not there.

          Your mileage may vary. Suffice it to say that until the discharge is entered, I wouldn't overly concern myself with this. Once the discharge is entered, then you can pounce and use all the protections of the discharge injunction to quash this reporting.

          Again, the creditors can report $0 balance and IIB.
          Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
          Status: (Auto) Discharged and Closed! 5/10
          Visit My BKForum Blog: justbroke's Blog


          I am not an attorney. Any advice provided is not legal advice.

          Comment


          • #6
            Thank you so much for the explanation justbroke! I appreciate it (and sorry I wasn't trying to understate your knowledge). So, I guess I can wait until the discharge and see what changes and just monitor from there.. I do have 1 CO on my experian report, which I believe should be corrected to say $0 IIB according to what you wrote.

            Anyways, I appreciate it

            Comment


            • #7
              [QUOTE=msi1337;n1024074]and sorry I wasn't trying to understate your knowledge[QUOTE]I didn't take it that way. I ask that everyone question what they read on the Internet. Figuring out how the law applies in this specific area takes a lot of reading of actual caselaw and cases; not just reading opinions on an Internet forum. I specifically looked into this and went through more than a dozen opinions on this specific area because I had a similar issue (with a bank).

              As I wrote, you can do the dispute now, or wait until the discharge so that the discharge is picked up as well.

              Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
              Status: (Auto) Discharged and Closed! 5/10
              Visit My BKForum Blog: justbroke's Blog


              I am not an attorney. Any advice provided is not legal advice.

              Comment

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