Automatic stay Does it stop creditors from reporting?

[jeff6898]

Filed Chapter 7 2/12/12
Got a credit alert today and found the following

A collection agency added more to the balance that I owe on 2/16/12

I was reported with 3 late payments by a creditor I had 3 accounts with on 2/16/12

I thought once they were notified the automatic stay made it to where they could no longer update with negative information. Am I wrong? I know the status stays to what it was before I filed but I thought they couldn't add more late payments.

[tobee43]

don't fret, it should all be moot once the 7 is discharged really.

[jeff6898]

Yeah guess my score will be about the same weather the last late was reported 2 months ago or recently once the discharge shows. Either way I will have to rebuild my credit with time.

[tobee43]

Yeah guess my score will be about the same weather the last late was reported 2 months ago or recently once the discharge shows. Either way I will have to rebuild my credit with time.

exactly, and it's nothing you need to really concern yourself with now, although, i understand it appears important to you now. it really isn't. a bk stays on your credit report for 10 years, however, after some time you will begin to rebuild your credit. most of us, it's within 6 months or so, so as difficult as it is, try and be patient. it will all work out just fine.

[Nicollette]

Filed Chapter 7 2/12/12
Got a credit alert today and found the following

A collection agency added more to the balance that I owe on 2/16/12

I was reported with 3 late payments by a creditor I had 3 accounts with on 2/16/12

I thought once they were notified the automatic stay made it to where they could no longer update with negative information. Am I wrong? I know the status stays to what it was before I filed but I thought they couldn't add more late payments.

Since you just filed on 2/12, and it was reported on 2/16, it's very well possible that the creditor hasn't been notified yet? I know my attorney had told me when I filed, that I had to allow mail time for the creditors to get the notice of my BK filing.

[jeff6898]

Well I know they got it because on the 8th they filed a notice of appearance. Like tobee43 said it doesn't really matter as far as my credit goes. It just makes me mad that if they can not report anymore how they think they are above what the law says and do what they want.