6 years out big mistake?

[Anonymous]

I'm not computer literate but will do my best here. Filed bk 7 in Oct. 2009. At that point i was finished with credit and at 57 yrs old didn't care about my credit score anymore. On a whim in Feb 2010 i applied for a credit card and was surprised with the instant approval of 5200. Then applied for another card a few months later and approved for a nice large limit once again. Fast forward 6 years and the cards limits have more than doubled and i pif every month. So i get this bright idea to check my credit report and notice my  mortgage included in bk7  is still being reported as paying on time all these years. Realizing this is incorrect i call (large bank) and after a long battle to convince them and several faxes they correct the reporting problem. Well now my credit score has plummeted. Am i now in jeopardy of loosing the credit cards i have with my new low low score? Will i now have to wait another 7 years from the date of this recent  update by (large bank) for it to fall off? Should i have just allowed them to keep reorting incorrectly? 

[IOBA]

The cc companies often check  the credit report to make sure things are still ok in the big picture.  They may, or may not, close your cards based on what they see.

Why did you feel the need for the mortgage company to change the way they were reporting?  Have you been paying the mortgage each month, even though the mortgage was included in the BK?  Did you reaffirm the mortgage?

If I remember correctly, all BK's stay on the CR for 10 years but may fall off as early as 7 years post BK.

[CH-7-Mission-Accomplished]

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@Anonymous wrote:

I'm not computer literate but will do my best here. Filed bk 7 in Oct. 2009. At that point i was finished with credit and at 57 yrs old didn't care about my credit score anymore. On a whim in Feb 2010 i applied for a credit card and was surprised with the instant approval of 5200. Then applied for another card a few months later and approved for a nice large limit once again. Fast forward 6 years and the cards limits have more than doubled and i pif every month. So i get this bright idea to check my credit report and notice my  mortgage included in bk7  is still being reported as paying on time all these years. Realizing this is incorrect i call (large bank) and after a long battle to convince them and several faxes they correct the reporting problem. Well now my credit score has plummeted. Am i now in jeopardy of loosing the credit cards i have with my new low low score? Will i now have to wait another 7 years from the date of this recent  update by (large bank) for it to fall off? Should i have just allowed them to keep reorting incorrectly? 

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The bad info can only report for 7 years so yours should come off by October.  That account will just be deleted.

You can ask for early exclusion from the credit reporting companies starting six months out for Transunion, and i forget how long for Experian and Equifax.  Just call them each month and ask for it to be deleted for early exclusion.

The reason your scores tanked is that the information is seen as new for FICO scoring.  This seems to me like almost a retaliatory step by FICO to prevent disputes.

You will likely be okay with your cards.  Do you know what your FICO scores are now?

[CH-7-Mission-Accomplished]

The accounts included in bankruptcy come off at 7 years.  The bankruptcy itself stays for 10 years.

[Anonymous]

Did the bank update it correctly? How is it reporting now? Is the DOFD correct? Is it marked as IIB?

As long as they reported it correctly, it should fall off soon.

[holmesnmanny]

Not really sure what caused you to want to mess up with an account that you had to have known was acting in your interest. Hopefully this serves as a lesson to others that you don't need to dispute every single account that is innacurate.

A mortgate reporting is very important to your credit history and FICO.