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Accounts updated to IIB dropped score

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Anonymous
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Accounts updated to IIB dropped score

I had the free trial of Experian credit monitoring and I got a notification my score dropped from 566 to 549.  The only two alerts in the time period were that two of my accounts were flagged as IIB and the balances set to zero.  

 

I thought that we wanted our accounts to show as IIB?  I have 4 more accounts that will need to be updated that way and I'm confused.  Thanks for any help!

Message 1 of 6
5 REPLIES 5
Anonymous
Not applicable

Re: Accounts updated to IIB dropped score


@Anonymous wrote:

I had the free trial of Experian credit monitoring and I got a notification my score dropped from 566 to 549.  The only two alerts in the time period were that two of my accounts were flagged as IIB and the balances set to zero.  

 

I thought that we wanted our accounts to show as IIB?  I have 4 more accounts that will need to be updated that way and I'm confused.  Thanks for any help!


Have you been discharged yet?

 

Message 2 of 6
Anonymous
Not applicable

Re: Accounts updated to IIB dropped score

No, I'm in the wait between my 341 and discharge, is that the difference?

Message 3 of 6
TRC_WA
Senior Contributor

Re: Accounts updated to IIB dropped score

You do want your accounts to reflect IIB and a $0 balance.

 

It's still a derog and will still lower your score for as long as they are on your report.

 

I filed Ch 13 in April 2009 and am less than a year away from removal.  The IIB accounts are still weighting down my scores... 6+ years later.

 

 

FICO8 current as of : ----- EQ: --- TU: --- EX: ---
Hard INQs last 12 months: EQ: 5 | TU: 7 | EX: 9
Verizon Visa $6500 Amex Delta Platinum $10,000 Care Credit $12,000
NFCU CashRewards $6000 Apple Card $2000 Best Buy $3500 Amazon $5000
NFCU auto loan (2022 Ford Bronco Sport Badlands - Cactus Gray) $44k new - balance $31k/6.94%
Total CL: $45,000 --- Total CC UTI: --% --- AAoA: 5.5 years --- Income: $200k
Last app: 11-30-23
Message 4 of 6
Anonymous
Not applicable

Re: Accounts updated to IIB dropped score


@Anonymous wrote:

No, I'm in the wait between my 341 and discharge, is that the difference?


Nothing on my report was consistent until after discharge and everything reported correctly.  Don't worry once you start your rebuild your scores will follow.  I am not sure who always says it but your rebuild is not a race but a marathon.  Concentrate on getting all your reports correct and begin building a solid credit profile and scores will follow.. Read as; much of this site as you can.  There are a lot of good people on this site and a lot of help.  The one thing that help me a lot is the following thread.....

 

http://ficoforums.myfico.com/t5/Bankruptcy/HOW-TO-From-BK7-discharge-to-700-in-24-months-or-less/td-p/1384075

Message 5 of 6
ezdriver
Senior Contributor

Re: Accounts updated to IIB dropped score


@Anonymous wrote:

@Anonymous wrote:

No, I'm in the wait between my 341 and discharge, is that the difference?


Nothing on my report was consistent until after discharge and everything reported correctly.  Don't worry once you start your rebuild your scores will follow.  I am not sure who always says it but your rebuild is not a race but a marathon.  Concentrate on getting all your reports correct and begin building a solid credit profile and scores will follow.. Read as; much of this site as you can.  There are a lot of good people on this site and a lot of help.  The one thing that help me a lot is the following thread.....

 

http://ficoforums.myfico.com/t5/Bankruptcy/HOW-TO-From-BK7-discharge-to-700-in-24-months-or-less/td-p/1384075


I agree completely. Well said.

Message 6 of 6
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