Question about a creditor on my credit report

[Logan]

My USAA credit card is reporting a zero balance every month. I discharged in Sept. 07 and every other creditor stopped reporting at that time but the USAA continues to report. It is a 0 balance but it is also a derogatory account included in BK.

Any opinions?

Logan

[Flamingo]

If you filed a Chapter 7, the creditor can report your account as included in/discharged in BK for 10 years from the filing date and it will be reported in the derogatory section. The zero balance showing is correct.

[Logan]

If you filed a Chapter 7, the creditor can report your account as included in/discharged in BK for 10 years from the filing date and it will be reported in the derogatory section. The zero balance showing is correct.

Thanks. The bummer is it reports monthly so it is showing up as a negative factor in my credit report according to identity guard. All of the others have been distanced out by 1 1/2 years.

Logan

[Flamingo]

The distance out doesn't mean anything until they actually go off after 10 years. They are there to stay. After the anniversary of your filing at the 10 year mark, pull your reports and make sure anything associated with your filing gets removed.

[StartingOver08]

Actually the distance in time does matter. Once you are two years out from your discharge the BK has less of an effect on your scores.

You can correct the TL since what they are doing is essentially reaging the account. They must report correctly as you have no further activity since your discharge, right? First notify the CRA, then the OC if the CRA verifies.

[Logan]

The distance out doesn't mean anything until they actually go off after 10 years. They are there to stay. After the anniversary of your filing at the 10 year mark, pull your reports and make sure anything associated with your filing gets removed.

Flamingo,

Distance is very important. If you have a 5 year old collection on your credit report and you pay it off today your score will drop because you have made that event current.

Every month this USAA CC of mine reports a 0 balance it also reports as included in BK so it never gets distanced. That's why identity guard does not put any other one of my credit cards under the negative factors against my report since they are old events that affect my score less everyday.

I am not convinced that I cannot have this removed and I will be working on it for a little while. I will be getting a mortgage at the end of the year and I may get a mortgage broker to help me.

Logan

[Logan]

Actually the distance in time does matter. Once you are two years out from your discharge the BK has less of an effect on your scores.

You can correct the TL since what they are doing is essentially reaging the account. They must report correctly as you have no further activity since your discharge, right? First notify the CRA, then the OC if the CRA verifies.

Thanks,

Logan

[Logan]

Actually the distance in time does matter. Once you are two years out from your discharge the BK has less of an effect on your scores.

You can correct the TL since what they are doing is essentially reaging the account. They must report correctly as you have no further activity since your discharge, right? First notify the CRA, then the OC if the CRA verifies.

Ok. I need a little help. What is OC. I'm sure it is the creditor.

Logan

[dingdong]

OC = Original Creditor

[Logan]

OC = Original Creditor

Of course. I'm such a ding dong!

Logan

[StartingOver08]

of course. I'm such a ding dong!

logan

lol

[Logan]

In case anyone is interested, I have disputed this account online with all 3 credit agencies. I verified with USAA that the account has been discharged and the woman told me I need to contact the CRA's. I replied that since all 3 CRA's are showing the card as reporting a $0 balance everymonth it is most likely something on USAA's end.

Once I recieve the responses from the CRA's I will then fax my dispute to USAA if the problem has not been resolved.

Logan

[dingdong]

Of course. I'm such a ding dong!

Logan

HAHAHAHAHA!

That is what my dad used to say to me when I "screwed up". Don't be such a dingdong!

Hence the screen name...
Cuz, ya know, I screwed up...well sorta