Anybody else notice?

[Tman]

When I decided to file I signed up for Experian credit monitoring to get my Credit Bureau. Now I get email notices of any changes to my CBR. Everytime a creditor updates their trade line I am notified. Lately I've noticed that every creditor I filed on has reported my account as being included in bankruptcy, discharged or some variation thereof. Which is expected. But the other thing I've noticed is that every third party collection agency is also reporting the same debts as being discharged, included in bankruptcy etc, etc. So instead of having seven credit cards as bad debts, I also have ten or so collections writeoffs as well. Does anybody know, is this the final payback from the credit card companies - to pollute your CBR with bad entries? It would seem to me if the CC sold the debt, they should not be able to report it or if the CC reports it the Collection agency shouldn't be able to report it. It seems like double jeopardy to me it was one debt and should only be reported one time.

[Fallonedward]

Dang, it does seem like a double whammy on your credit score, I will be interested in hearing the response to this question as well

When I decided to file I signed up for Experian credit monitoring to get my Credit Bureau. Now I get email notices of any changes to my CBR. Everytime a creditor updates their trade line I am notified. Lately I've noticed that every creditor I filed on has reported my account as being included in bankruptcy, discharged or some variation thereof. Which is expected. But the other thing I've noticed is that every third party collection agency is also reporting the same debts as being discharged, included in bankruptcy etc, etc. So instead of having seven credit cards as bad debts, I also have ten or so collections writeoffs as well. Does anybody know, is this the final payback from the credit card companies - to pollute your CBR with bad entries? It would seem to me if the CC sold the debt, they should not be able to report it or if the CC reports it the Collection agency shouldn't be able to report it. It seems like double jeopardy to me it was one debt and should only be reported one time.

[Charlie777]

They can do this. If the CC assigns the debt to a CA, or sells it to a JDB/CA, both can report. But you need to watch that 1) no TL reports a status date after discharge and 2) that the DOFD is accurate on both lines, and is the date you first bcame delinquent with the CCC.

As time goes on the damage will recede, and think about it, you have a BK public filing and 10 IIB anyway, what' extra harm is another 7 doing to you now? You need to look forward to those IIB TLs falling off 7 years plus 180 days from DOFD, and the BK falling off in 10.

Now you can raise your score with a couple of good lines and absolutely nothing negative after discharge. I was discharged 11/09 and my Equifax FICO score is up from the 500s to 660 already.

[2011]

They can do this. If the CC assigns the debt to a CA, or sells it to a JDB/CA, both can report. But you need to watch that 1) no TL reports a status date after discharge and 2) that the DOFD is accurate on both lines, and is the date you first bcame delinquent with the CCC.

As time goes on the damage will recede, and think about it, you have a BK public filing and 10 IIB anyway, what' extra harm is another 7 doing to you now? You need to look forward to those IIB TLs falling off 7 years plus 180 days from DOFD, and the BK falling off in 10.

Now you can raise your score with a couple of good lines and absolutely nothing negative after discharge. I was discharged 11/09 and my Equifax FICO score is up from the 500s to 660 already.

this is not entirely accurate at all...

Both the OC and the CA can not report the same debt as due to both parties and/or IIB... the OC must report it as assigned or sold to the CA or simply delete... the CA must report it as IIB...both cannot report it as IIB as it would appear as you have twice the amount of IIB accounts as you actually do...

Also, PLEASE DO NOT WAIT 7-10 YEARS FOR THESE TLs TO FALL OFF YOUR CREDIT REPORT!!!!! YOU DO NOT HAVE TO SUFFER THAT LONG!!! you can begin to dispute the individual TLs IMMEDIATELY... especially if you notice a FDCPA violation as is above.... DO NOT DISPUTE THE ACTUAL BK FILING JUST YET though...but by all means, get started on your cleanup even before your BK is discharged

[tcreegan]

...I'm with 2011, start the clean-up. What can/can't get reported is not always what does/does not get reported. And what the credit bureaus can/can't have on the reports in not always what is/is not on the report. Write letters, dispute everything, incessantly nag on getting neg. entries removed. You'd be surprised at what you can do.

BUT....don't sweat the details too much, some smart credit rebuilding is 10X more powerful at rebuilding your score.

Tom in Colo

ps: watch out for 'laws' on credit reporting, most are urban legends. The bureaus are private companies who do what their customers want them to do so they can sell them their product. They can take anything off your report at any time. And they don't have to put anything on there in the first place. Even a BK....the law only says a BK can't stay on longer than 10 years, but it can be taken off anytime before that, and it doesn't have to be put on in the first place. oh, but they do....their customers would flip out if they didn't ! The law of the marketplace..

[IBroke]

Almost ANY of my accounts have a little error in their reporting - and as soon as I'm discharged, they are disputed. Of course, I will request a "general account update" and won't show them their errors. It's very likely they will verify that small error and that's when they will get my lawsuit-threat letters, demanding deletion from all reports or they will be sued. That should take care of the majority of the accounts. Creditors aren't interested in fighting a battle over a discharged account.

Oh, BTW, I recently disputed several accounts. Two of them had a DOFD in 2007 and the investigation-results from Equifax are now telling me these tradelines will be removed in 2017....I didn't know my credit-cards turned into a public BK-record..hahahaha...