Bankruptcy and Credit Repoting

[down @ out]

Hello Everyone,

Recently I challenged Experian on their reporting of my bankruptcy. I followed their actions closely and it looks like they investigated my dispute and resolved it in less than 24 hours.

Considering that the bankruptcy court in my district only works with mail requests for information I don`t have a clue as to what Experian really did if anything to verify the bankruptcy.

I understand we have the right to question a credit reporting agency to explain how they verified the information.

Anyone know how to do this?

Thanks,

Down @ Out

[easyone]

They should be sending you a letter with the results of your dispute. Once you recieve that, then you can follow up depending on the info they provided

[Chptsevenchains]

Bankruptcy and Credit Reporting

I knew someone who worked within the credit industry. You have NOO Idea how broken this function is...

Here's the truth, once you mail the bankruptcy information to the bureaus, they will either remove the creditors tradeline or blanket every account on your credit file with the Bankruptcy discharge notation.

All of this is based on 3 things:
1. Your dedication to correcting your credit file
2. The number of times you reach out to the credit bureaus
3. The number of ways (mail, phone, electronic) you relay your discharge

Creditors are known as "Data Furnishers" to the bureaus and the bureaus rely solely on the "Data Furnished" if your data outweighs the creditors data, they will modify erring on the side of the debtor, and if you are vigilant; you'll have all of your accounts reporting with the bankruptcy notation within 1 to 2 months tops.

[2muchstress]

i disputed a mortg. acct and finally got a result yet i dont know what this really means... used to say 'derogatory', but now look at this:

Acct Type: Conventional Real Estate Loan, Including Purchase Money First
Acct Status: Closed

Past Due:
Payment Status: Credit Grantor reclaimed collateral to settle defaulted mortgage

[MomIcantFindmy]

It means you defaulted on the mortgage and the company took the property back. I think it is better than derogatory. I still need to clean up my report.

[2muchstress]

i learn stuff i never knew or cared to learn about......... it took ten yrs out of me. all the experiences. whew..................

[Flamingo]

We have been disputing items since our discharge in August 2006. We get them cleaned up and lo and behold, several months later they go back to the way they were or show up with different incorrect dates and information. It is the most frustrating process. Thankfully the accounts in BK will start coming off next April as it will be 7 years since our Chapter 13 filing. Most of them we have cleaned up; several keep reporiting dates past our Discharge date as having reported Delinquent Payments one year and more after discharge. We have had to contact all creditors directly to try to have that changed as the CRA reports the information is correct. Figure that one out....LOL!