The "Zero Balance" on Tradelines

[copper2]

Hi everyone. I'm cleaning up my credit reports at the moment. Just want to make sure I'm doing the right thing: The accounts included in BK are listed as such. The "balance" is blank, not, zero, and the credit lines and high balances are still showing. Is this right? Lastly, a car that I resigned for prior to filing has been "Included in BK" though includes a current payment history. The source has refused to remove this. My credit score seemed to take a dive two years past discharge and I can't figure out why, though the scores I had looked at were not FICO. Thanks in advance, Copper.

[Boscoe]

Only use non FICO's for comparative purposes and to see improvement. You need to get your FICO scores to really see where you are.....

[chpxiii]

Hi everyone. I'm cleaning up my credit reports at the moment. Just want to make sure I'm doing the right thing: The accounts included in BK are listed as such. The "balance" is blank, not, zero, and the credit lines and high balances are still showing. Is this right? Lastly, a car that I resigned for prior to filing has been "Included in BK" though includes a current payment history. The source has refused to remove this. My credit score seemed to take a dive two years past discharge and I can't figure out why, though the scores I had looked at were not FICO. Thanks in advance, Copper.

Check out CreditBoards.com. What I have learned from there is that if a creditor (who has been included in the bankruptcy) is still reporting a balance due on your credit reports, it is considered continued action on attempts to collect on a debt. Attempts to collect on a debt that are included in a bankruptcy are in violation of federal bankruptcy laws. These amounts must show $0 and whatever status they were at the time you filed bankruptcy. (i.e. if you had ontime payments, they must show ontime payments.)

Dealing with creditors can be a PITA. What you'll need to do is send them a cease and desist letter, certified mail return receipt requested to start a paper trail. If the creditor who was included in your bankruptcy continues to report a balance on your credit reports, they are in violation of the bankruptcy's automatic stay and can be fined - money going to you. You'll have to play hard ball, send everything in writing CMRR, and you may even need to get a consumer advocacy lawyer.

All accounts included in bankruptcy, once your bankruptcy is discharged, are supposed to say $0 balance.