ch 7 discharge and negative account activity

[jtindisguise]

Sorry if I post a question that has already been asked, but I couldn't find this specific topic.

My ch 7 was discharged in Sept. 09. Yay! I have managed to get my credit score up to 680 in just the past 3 months.

I was told by my mortgage lender that debts discharged in the BK should not show late payments prior to the discharge. Is that true? He said the tradeline should show the creditor, account opening date, and "discharged in chapter 7," and that is it.

Does this sound legit? If so, what would be a good letter to send to the bureaus?

[debee]

I think that's backwards. Everything that happened before the bankruptcy was filed so long as it's accurate can remain on your report. Once you file, then it should report $0, IIB with no late charges, etc to follow.

[backtoschool]

I think that's backwards. Everything that happened before the bankruptcy was filed so long as it's accurate can remain on your report. Once you file, then it should report $0, IIB with no late charges, etc to follow.

I agree with debee. Of course you may have some creditors report current lates and have have to dispute with them to get the line reporting correctly. I have one line that refuses to report as IIB. It is zeroed out, but reports as a charge off and reports a current late on EQ each month. It reports fine on EX and TU and I have disputed it many times to no avail. So, if you get a line like this, the only recourse is to dispute either with the cra or the creditor that is reporting it.

[daxtell]

to dispute an item on your credit report you can do it online or print it out and write on it and mail it in. they list all the reasons there you would dispute the line item for. they would verify it and either the company changes it from there themselves or they do not and you have to find another way if its wrong to convince them.

[lwh1961]

I filed CH7 in 1/2011 and discharged 4/2011. It seems most everyone has updated as being okay (with some charge offs prior to april) up until April. But April is showing on most of them as my last key derogatory item (on experian).

So it is the month of filing or the month of discharge?

[debee]

So it is the month of filing or the month of discharge?

I think free2breathe researched this issue awhile back and found that the FCRA indicated it was when the "order for relief" was granted. In a voluntary chapter 7 bankruptcy, the "order for relief" is granted when the petition is filed. (As opposed to an involuntary case where the "order for relief" is not granted until discharge.)