Credit Cleanup & Monitoring

[krielly]

I know there is a forum section on Credit Clean up, but it's under "after the discharge", and we are still in an open 13 - so that's why I decided to post here........sorry if this is the wrong place.........

Anyhow, I've read several posts from folks regarding doing credit clean-up while still in 13. Sounds like an effective way to pass the time . I think I'll get going on it.

I know I can get free credit reports from all 3 companies by going to the annual credit report website. (we did that when we filed a couple years ago).

Guess that would be a starting point, but what is a good monitoring service to go with to continue to pull reports, and get scores from all 3 reporting bureaus?

I would appreciate any suggestions/advice from all as to a good monitoring agency to go with, as well as tips/suggestions as to the best way to go about this all...........step by step.

Thanks in advance!
K

[helpless]

I am interested too krielly. We will be done in 8 months, so now it the time to start cleaning up. Haven't looked at a credit report since 4/2005. Avoidance factor here!!

[krielly]

Just bumping this up, as I'm hoping to get a response.........
thanks
K

[Boscoe]

Krielly - just be a bit patient until after the holiday...someone will respond...thanks.

[krielly]

Thanks Boscoe - Happy Turkey Day!!!!

[Flamingo]

I know there is a forum section on Credit Clean up, but it's under "after the discharge", and we are still in an open 13 - so that's why I decided to post here........sorry if this is the wrong place.........
Anyhow, I've read several posts from folks regarding doing credit clean-up while still in 13. Sounds like an effective way to pass the time . I think I'll get going on it.
I know I can get free credit reports from all 3 companies by going to the annual credit report website. (we did that when we filed a couple years ago).
Guess that would be a starting point, but what is a good monitoring service to go with to continue to pull reports, and get scores from all 3 reporting bureaus?
I would appreciate any suggestions/advice from all as to a good monitoring agency to go with, as well as tips/suggestions as to the best way to go about this all...........step by step.
Thanks in advance!
K

HEre is what we did during a 5 year Plan, buying out early at 4 years. About half way through our plan, we obtained copies of all 3 credit reports from the 3 major agencies. We were told they would probably be a mess and they were. Took us several months to clean up and ensure all correctly indicated the accounts were in Chapter 13, not delinquent, etc., etc. We then did not do anything until after our discharge because information will get changed on there when your creditors receive their last payment and are paid in full under the Plan. Wait about 3 months or more after your discharge and then obtain all 3 of your reports again. There may or may not be incorrect changes or amounts, data, etc. Unless you are really concerned about your credit reports and are worried about ID theft, there is really no need to keep getting them all the time during your Plan. Your free reports once a year should be fine.

[krielly]

thanks and a couple more questions.

Thanks. I think I will hold off for a bit until I get the free annual reports. We just bought a truck (trustee approved - don't anyone panic, ha ha!). I'm anxious to see how the credit union will report the payment once it begins. Hopefully it will be reported, so we can start re-establishing, but I'm not sure. The way the loan works is that we have to join the CU, and set up an account. We need to make deposits into the account to cover the payment each month, so the money is there when the cu draws it out for the payment. Does anyone have any idea if this will be a positive to our credit, or just doesn't matter, as it's an auto withdrawl?
Also, when the dealership ran our credit report for the auto loan, he indicated that our mortgage payment was being reported as though it was included in the plan.....(our payments are being made outside of the plan).......he said that it was "ok", as it didn't show any late payments, but that it wasn't clear from the report that we are making that payment on our own. Can we ask the lender to change that? Wouldn't it potentially raise our scores? Does anyone think they would refuse to change it?

Thanks in advance.
K

[Flamingo]

Thanks. I think I will hold off for a bit until I get the free annual reports. We just bought a truck (trustee approved - don't anyone panic, ha ha!). I'm anxious to see how the credit union will report the payment once it begins. Hopefully it will be reported, so we can start re-establishing, but I'm not sure. The way the loan works is that we have to join the CU, and set up an account. We need to make deposits into the account to cover the payment each month, so the money is there when the cu draws it out for the payment. Does anyone have any idea if this will be a positive to our credit, or just doesn't matter, as it's an auto withdrawl?
Also, when the dealership ran our credit report for the auto loan, he indicated that our mortgage payment was being reported as though it was included in the plan.....(our payments are being made outside of the plan).......he said that it was "ok", as it didn't show any late payments, but that it wasn't clear from the report that we are making that payment on our own. Can we ask the lender to change that? Wouldn't it potentially raise our scores? Does anyone think they would refuse to change it?

Thanks in advance.
K

As to your autopayment question, it is a plus for your credit; just make sure you have the funds in your checking account when the payment is automatically withdrawn. If the funds are not there, you have a late payment on your hands. As to your mortgage being included in BK on your credit reports even though you are making payments outside the Plan - we encountered the same thing. First, know they don't have to change that wording if they don't want to because your mortgage is a part of your Plan even though you are making payments outside the Plan - your mortgage is listed as being a part of your Chapter 13 and your mortgage lender has been so notified. However, we were able to get the wording removed by disputing the item and advising that we were making payments outside the Plan and directly to the lender and were prior to the filing and nothing has changed (amount of payment, etc.). I have heard that some people just cannot get their lender to change that information so don't be disheartened if you cannot.