bankruptcy/Charge offs/Credit Scores

[down @ out]

Hello everyone,

I monitor my credit reports regularly and have noticed that Chase is reporting several of my accounts as charge offs/bankruptcy.

Until recently they were reporting as bankruptcy/never late.

I don`t know if this will have any impact on my credit scores or not. I do know the charge offs occurred after the bankruptcy petition was filed in 2005.

I have had some real problems with Chase mis-reporting some other things and thought things were squared away.

Is this worth disputing or does it really matter. The bankruptcy was filed in late 2005 and discharged in early 2006.

Thanks for your thoughts.

Down and Out

[ChaseSucks]

Hello everyone,

I monitor my credit reports regularly and have noticed that Chase is reporting several of my accounts as charge offs/bankruptcy.

Until recently they were reporting as bankruptcy/never late.

I don`t know if this will have any impact on my credit scores or not. I do know the charge offs occurred after the bankruptcy petition was filed in 2005.

I have had some real problems with Chase mis-reporting some other things and thought things were squared away.

Is this worth disputing or does it really matter. The bankruptcy was filed in late 2005 and discharged in early 2006.

Thanks for your thoughts.

Down and Out

Chase is Evil and George Bush made it worse in 2005.

[Flamingo]

I hate cleaning things up and then several months later it either reverts back to the old incorrect information or they change it to something else that is totally beyond. You need to dispute that item to have the chargeoff information removed. It should just be stating that the account was included in BK.

We have been fighting for months with Chase and another bank both of which for some odd reason decided 6 years after our filing a Chapter 13 that we filed a Chapter 7! Documents have been sent to them several times. We have this issue with Experian only.

I would not dispute online...I would dispute via letter via regular mail.

[Cali]

If the charge off didn't happen before BK, it shouldn't be reporting as such. Send a letter to the CRA disputing it and make sure to get a sign receipt.

[down @ out]

Bankruptcy

Hello and thanks for the responses.

I believe I will challenge all of the Chase entries that show the debt was charged off.

It really is a open and shut case. My problem is also with experian. They have been by far the most difficult credit reporting agency to deal with.

Down @ Out

[kar]

Major Reporting Errors For Discharged Accounts!!- Please Read-Very Important!!

I posted this on another forum. Anybody that had a recent Chapter 7 Bankruptcy discharged in the last few years better pull their reports from all three credit reporting agencies. I started having problems with only Experian in the last few days adding the description of "Discharged Through Bankruptcy/Account Charged Off" added to most of my accounts. All of my accounts were current and never late prior to our filing. Now to day I noticed on Equifax I have an account that was included in our filing that only reads now "Charged Off" with no mention of the discharged. This account had been reporting correctly for almost two years. There is something strange going on the reporting with the all these credit reporting agencies. I have read on different forums that their was some sort of class action suite settlement with the reporting of discharged accounts through Chapter 7 Bankruptcies. Also we received an email alert from True Credit the other day mentioning something to this as well. Part of the text we received from them is listed below. My FICO scores have plummeted in the past few days from all of this. Please keep in mind that my discharged is almost two years old. I think all the credit reporting agencies have some sort of software issue going on. It might be due in repsponce to the court settelment. It obvious they are making huge erros in reporting. I have a feeling this might end up for me filing legal action in the appropriate courts to get this all to report correctly. If any one else is having this kind of problem I would love to hear from you all.

Part of the email we got on this:

"Per recent regulations, credit bureaus are now required to report any account as "included in bankruptcy" if they have a status of discharged in existing public records of a Chapter 7 Bankruptcy. Previously, only creditors were required to report this information.

If you have a credit card, loan or collection account that was never reported as "included in bankruptcy" and was discharged through Chapter 7 Bankruptcy, a credit alert may be sent updating it to "included in bankruptcy." Due to the age of these records, they may not trigger an alert. However, you should be aware that any possible alert would not indicate recent activity on that account.

You may experience a slight change in your credit score if any of your accounts are updated due to a bankruptcy. The more recent the bankruptcy, the more of an impact it might make on your credit score. Any update would be made by September 1, 2008.

We are committed to providing our Credit Monitoring members with the highest level of service. Should you have any questions, our Customer Service Team is available seven days a week to assist you."

[PaKettle]

kar, thanks for the warning.

Today is close enough to Sep. 1, I am going to check all my credit bureau reports today and see if there are any weird negs on there.

As to things changing over time, yes, sometimes stuff comes right out of left field! I had disputed an incorrect reporting of my social security number with Equifax before I filed bankruptcy back in November of 07. They repaired that and it was reporting correctly.

Then, after my bankruptcy I pulled all 3 reports, and suddenly Equifax was reporting my social incorrectly again! So once again I had to send them the whole ball of wax via certified mail: a copy of my social security card, driver's license, electric bill, etc. etc..

On the bright side, I also had a dispute with a loan co. that said my account was charged off before my filing of C7 so therefore they were reporting "Charge Off". I disputed this even though I wasn't sure - MAYBE it WAS charged off before bk but I was not aware of that if it was. So I disputed, and guess what? Now that loan co. has completely been removed from my report. Not only does it not say "Charged Off", now there is absolutely no record of my having done business with them! They're just GONE.

However, I am afraid that some day it will come back again... and I'll have to dispute all over again.

I posted this on another forum. Anybody that had a recent Chapter 7 Bankruptcy discharged in the last few years better pull their reports from all three credit reporting agencies. I started having problems with only Experian in the last few days adding the description of "Discharged Through Bankruptcy/Account Charged Off" added to most of my accounts. All of my accounts were current and never late prior to our filing. Now to day I noticed on Equifax I have an account that was included in our filing that only reads now "Charged Off" with no mention of the discharged. This account had been reporting correctly for almost two years. There is something strange going on the reporting with the all these credit reporting agencies. I have read on different forums that their was some sort of class action suite settlement with the reporting of discharged accounts through Chapter 7 Bankruptcies. Also we received an email alert from True Credit the other day mentioning something to this as well. Part of the text we received from them is listed below. My FICO scores have plummeted in the past few days from all of this. Please keep in mind that my discharged is almost two years old. I think all the credit reporting agencies have some sort of software issue going on. It might be due in repsponce to the court settelment. It obvious they are making huge erros in reporting. I have a feeling this might end up for me filing legal action in the appropriate courts to get this all to report correctly. If any one else is having this kind of problem I would love to hear from you all.

Part of the email we got on this:

"Per recent regulations, credit bureaus are now required to report any account as "included in bankruptcy" if they have a status of discharged in existing public records of a Chapter 7 Bankruptcy. Previously, only creditors were required to report this information.

If you have a credit card, loan or collection account that was never reported as "included in bankruptcy" and was discharged through Chapter 7 Bankruptcy, a credit alert may be sent updating it to "included in bankruptcy." Due to the age of these records, they may not trigger an alert. However, you should be aware that any possible alert would not indicate recent activity on that account.

You may experience a slight change in your credit score if any of your accounts are updated due to a bankruptcy. The more recent the bankruptcy, the more of an impact it might make on your credit score. Any update would be made by September 1, 2008.

We are committed to providing our Credit Monitoring members with the highest level of service. Should you have any questions, our Customer Service Team is available seven days a week to assist you."