Charge offs Versus BK on credit report

[tinroofrusted]

Is a company supposed to list that you filed bankruptcy, or are they legally able to write off your debt as a "{bad debt-charge off" on your credit report?

I want my credit to include everything as included in Chapter 7. Stating that it has just been charged off does not look good at all.....

Any suggestions? I already started with Transunion about filing a complaint!

[tinroofrusted]

Also:
One of the creditors that I have had NOTHING but trouble with since day one has listed "charged off as bad debt" on my credit report, instead of "included in bankruptcy."

What do I need to do to clear this up?

Also, one of my creditors hasn't even shown me IN bankruptcy yet... what do I need to do about that?

[HHM]

Most creditors report discharged debts as "discharged in bankruptcy" or some other similar designation. I don't know specifically if its improper for them to list it as Charged off as bad debt, but I think that is an inaccurate entry and a case could be made for a violation of the FCRA.

As for what to do, do a search for how to dispute credit report entries. Basically, you send a letter to the credit reporting agencies disputing the entry and make them verify it, send a letter to the original creditor disputing the entry, and finally, send a letter to the credit reporting agencies and have them include in your credit report a "consumer statement" where you explain the situation.

[robivi3]

Tin,
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[littlered1003]

When I go to this site it says 29.95. Has it went up that much or is there another link? I would really like to have this to help me clean up my report.
Thanks.

[amyl]

Most creditors report discharged debts as "discharged in bankruptcy" or some other similar designation. I don't know specifically if its improper for them to list it as Charged off as bad debt, but I think that is an inaccurate entry and a case could be made for a violation of the FCRA.

As for what to do, do a search for how to dispute credit report entries. Basically, you send a letter to the credit reporting agencies disputing the entry and make them verify it, send a letter to the original creditor disputing the entry, and finally, send a letter to the credit reporting agencies and have them include in your credit report a "consumer statement" where you explain the situation.

From my experience..(really only with Experian) the debt will usually be changed after disputing to IIB. The debt can still state derogatory and charge off cause at 1 point it was. As long as it states IIB the charge off will stay on there (only Experian still reports this for me and TU and EQ is only IIB).

I dispute online. A lot of people might state to do it in mail so you can keep a paper trail...but I keep a trail by printing. It is up to you. I think it's faster to do it online but if you run to any problems by getting a dispute "verified" then do a paper trail.

When you dispute..you need to dispute as IIB. If you want a debt verified..dispute as VALIDATE instead of verify. Verify..they only have to verify name, address, accnt# etc..When validating they have to verify in more detail. ALSO...make sure you know the charge off dates. A debt cannot be charged off after the BK. You can dispute the date of the charge off as well. The earlier the charge off occurred..the better the score will get. Hope this helps!

[amyl]

I forgot to add. I read in a lot of places..and by advice from my attrny...to never add a consumer statement. I don't remember the exact reason why. When disputing..if u dispute 2 times with the OC/ collection agency and the CRAs and the debt is verified..or the OC/collection agency attemps to collect the debt afterward you can take corrective action. NEVER EVER send a copy of your discharge to anyone. Or any documents that you have signed. They should and will have to verify never provide it..and signatures have a way a jumping to other documents. Never send them info like that. Talk to your attrny and he/she can draft a letter that you send.

[razorguns]

"charge off" doesn't infer the debt is gone. It just infers the company doesn't care about it anymore.

So you have to FORCE the cr to 'included in bk' cuz that is what says the debt is now officially zero.

If I lend you $5g's and then give up collecting on it (charge off) - that doesn't mean the debt is gone. In 5 years i can still ask for it back.