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Valued Member
sisco
Posts: 37
Registered: ‎07-13-2011
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CR clarification reporting chapter 13

While reviewing my three credit reports, TU states that my chapter 13 will continue to report for ten years whereas both EQ and EX clearly states it will drop off in seven years.  Isn't is correct that chapter 7 reports for ten years whereas chapter 13 reports for seven? 

Valued Contributor
Rhaeny
Posts: 1,507
Registered: ‎07-24-2011
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Re: CR clarification reporting chapter 13


sisco wrote:

While reviewing my three credit reports, TU states that my chapter 13 will continue to report for ten years whereas both EQ and EX clearly states it will drop off in seven years.  Isn't is correct that chapter 7 reports for ten years whereas chapter 13 reports for seven? 


Yes I am having the same problem.  TU refuses to investigate again.  They show the status as "filed" instead of "discharged" which is why they are stating 10 years.  

 

Short of sending them my discharge papers, does anyone know how to get this corrected?


Major CC's - Barclay's ($5.5K) | Barclay's Sallie Mae MC ($5K) | DCU ($7.5K) | Discover IT ($1.4K) | Genisys Visa ($1.4K) | NFCU Visa ($22K) | Navcheck ($15K) | Chase Freedom ($5K) | SDFCU Visa ($8K) | Amex BCP ($9.5K) | Amex Delta ($10K) |Store CC's| -Amazon ($4K) | Catherines ($850) | JCP ($4K) | Macy's ($1.7K) | Avenue ($850) | Victoria's Secret ($1.4K) | Walmart ($4.1K) | Paypal SC ($1.3K) | HSN ($2.5) | Sears ($2.6K) | Sams Club ($4.1K) |Goal|: Age with grace to 750 across the board |Last app|: 3/3/2014
Valued Contributor
MovingForward_2012
Posts: 3,406
Registered: ‎12-19-2012
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Re: CR clarification reporting chapter 13

Yes that is indeed correct and I am living proof as I filed a 7 in 2003 and a 13 in 2005. The 13 dropped off after 7 years in October and I expect the 7 to drop off in August after 10 years.

Generally, credit reports state that BKs can stay on your credit report for up to 10 years. It doesn't distinguish the time frames of a 13 and a 7. So I would anticipate the 13 falling off 7 years after the filing date. If it doesn't, I would dispute it.
Cards: Orchard Bank ($1100) | Cap1 Cash Rewards ($2500) | Chase Freedom ($1000) | Best Buy ($2500) | Discover It ($1000) | Barclay Rewards ($2500) | Current scores: EX FAKO: 684, CK TU: 649, FICO EQ: 680, FICO TU: 698, FICO EX: 658 Happy Homeowner Since 2/6/13! :smileyhappy: Last App: 4/5/13 Gardening until July 2014
Valued Contributor
Rhaeny
Posts: 1,507
Registered: ‎07-24-2011
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Re: CR clarification reporting chapter 13


MovingForward_2012 wrote:
Generally, credit reports state that BKs can stay on your credit report for up to 10 years. It doesn't distinguish the time frames of a 13 and a 7. 

Both Experian and Equifax will clearly acknowledge that they will report a a DISCHARGED chapter 13 for 7 years.  A DISMISSED chapter 13 for 10 years, and a chapter 7 discharged or dismissed for 10 years.

 

The problem is TU doesn't implicitly state the same thing.  They use some language that discharged chapter 13's are taken off after 7 years depending on the CRA"s policy????

 

The problem for me is TU who will not change the status from "Filed" to "Discharged" which would change the reporting time from 10 to 7....that's if they adhere to that general language they use.


Major CC's - Barclay's ($5.5K) | Barclay's Sallie Mae MC ($5K) | DCU ($7.5K) | Discover IT ($1.4K) | Genisys Visa ($1.4K) | NFCU Visa ($22K) | Navcheck ($15K) | Chase Freedom ($5K) | SDFCU Visa ($8K) | Amex BCP ($9.5K) | Amex Delta ($10K) |Store CC's| -Amazon ($4K) | Catherines ($850) | JCP ($4K) | Macy's ($1.7K) | Avenue ($850) | Victoria's Secret ($1.4K) | Walmart ($4.1K) | Paypal SC ($1.3K) | HSN ($2.5) | Sears ($2.6K) | Sams Club ($4.1K) |Goal|: Age with grace to 750 across the board |Last app|: 3/3/2014
Valued Contributor
MovingForward_2012
Posts: 3,406
Registered: ‎12-19-2012
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Re: CR clarification reporting chapter 13

That's weird. Because I paid of my 13 plan as agreed in Jan 2011 which discharged it and it dropped off of all bureaus including Transunion 7 years from the filling date, not the discharge date. Maybe I am confusing what you are saying? Are you saying that your 13 was discharged but TU hasn't updated that yet? For me it still showed the filling date after discharge but also showed the status as discharged and the 13 fell off 7 years from the filling date. When was your filing date?
Cards: Orchard Bank ($1100) | Cap1 Cash Rewards ($2500) | Chase Freedom ($1000) | Best Buy ($2500) | Discover It ($1000) | Barclay Rewards ($2500) | Current scores: EX FAKO: 684, CK TU: 649, FICO EQ: 680, FICO TU: 698, FICO EX: 658 Happy Homeowner Since 2/6/13! :smileyhappy: Last App: 4/5/13 Gardening until July 2014
Valued Contributor
Rhaeny
Posts: 1,507
Registered: ‎07-24-2011
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Re: CR clarification reporting chapter 13

[ Edited ]

MovingForward_2012 wrote:
That's weird. Because I paid of my 13 plan as agreed in Jan 2011 which discharged it and it dropped off of all bureaus including Transunion 7 years from the filling date, not the discharge date. Maybe I am confusing what you are saying? Are you saying that your 13 was discharged but TU hasn't updated that yet? For me it still showed the filling date after discharge but also showed the status as discharged and the 13 fell off 7 years from the filling date. When was your filing date?

Yes we are saying the same thing....they age the bankruptcies from the filing date but the status (i.e. filed, discharged or dismissed) determines the length of time it remains on your report.  Meaning that only a discharged chapter 13 will fall off after 7 years from filing date, and a dismissed 13 will fall off 10 years from the filing date.   In the case of a chapter 7, whether a dismissal or discharge it will remain for 10 years from filing date.

 

As for TU, all of my individual accounts are show discharged chapter 13 or something like that and are set to fall off by February 2013.  But the actual PR listing still shows as "filed" instead of "discharged".  If the status was correct it would fall off in March 2014 instead of March 2017.


Major CC's - Barclay's ($5.5K) | Barclay's Sallie Mae MC ($5K) | DCU ($7.5K) | Discover IT ($1.4K) | Genisys Visa ($1.4K) | NFCU Visa ($22K) | Navcheck ($15K) | Chase Freedom ($5K) | SDFCU Visa ($8K) | Amex BCP ($9.5K) | Amex Delta ($10K) |Store CC's| -Amazon ($4K) | Catherines ($850) | JCP ($4K) | Macy's ($1.7K) | Avenue ($850) | Victoria's Secret ($1.4K) | Walmart ($4.1K) | Paypal SC ($1.3K) | HSN ($2.5) | Sears ($2.6K) | Sams Club ($4.1K) |Goal|: Age with grace to 750 across the board |Last app|: 3/3/2014
Valued Contributor
MovingForward_2012
Posts: 3,406
Registered: ‎12-19-2012
0

Re: CR clarification reporting chapter 13

Okay. Glad we are talking about the same things. :smileyhappy: so you are saying your Ch 13 will fall off next year. Is there another bankruptcy you are referring to when you are talking about 2014/2017? Or are you concerned your 13 wont fall off next year because of your last sentence i didn't fully understand? What does PR mean? I am still new to the boards so I apologize for my misunderstandings.
Cards: Orchard Bank ($1100) | Cap1 Cash Rewards ($2500) | Chase Freedom ($1000) | Best Buy ($2500) | Discover It ($1000) | Barclay Rewards ($2500) | Current scores: EX FAKO: 684, CK TU: 649, FICO EQ: 680, FICO TU: 698, FICO EX: 658 Happy Homeowner Since 2/6/13! :smileyhappy: Last App: 4/5/13 Gardening until July 2014
Valued Contributor
Rhaeny
Posts: 1,507
Registered: ‎07-24-2011
0

Re: CR clarification reporting chapter 13


MovingForward_2012 wrote:
Okay. Glad we are talking about the same things. :smileyhappy: so you are saying your Ch 13 will fall off next year. Is there another bankruptcy you are referring to when you are talking about 2014/2017? Or are you concerned your 13 wont fall off next year because of your last sentence i didn't fully understand? What does PR mean? I am still new to the boards so I apologize for my misunderstandings.

PR = Public record (Bankruptices, judgments, liens, etc. are listed under this)

 

Status:

Filed = Bankruptcy proceedings filed - This status means it will be on for 10 years for both 7 or 13 from date of filing

Dismissed = Bankruptcy dismissed and debtor is still responsible for debt - This status means it will be on for 10 years for both 7 or 13 from date of filing

Discharged = Bankruptcy is discharged/debtor doesn't owe any money - This status means that it will be on for 7 years for chp13 and 10 years for chp7 (from filing date).

 

I filed bk in 2007.  My chp13 status on TU is "filed" even though it is "discharged".  Because the status is "filed" it says it won't fall off until 2017, but it should fall off in 2014 because it is discharged.  I can't get TU to change it because they said that they have investigated already.  But just about everything listed on the PR is incorrect in some form or another.


Major CC's - Barclay's ($5.5K) | Barclay's Sallie Mae MC ($5K) | DCU ($7.5K) | Discover IT ($1.4K) | Genisys Visa ($1.4K) | NFCU Visa ($22K) | Navcheck ($15K) | Chase Freedom ($5K) | SDFCU Visa ($8K) | Amex BCP ($9.5K) | Amex Delta ($10K) |Store CC's| -Amazon ($4K) | Catherines ($850) | JCP ($4K) | Macy's ($1.7K) | Avenue ($850) | Victoria's Secret ($1.4K) | Walmart ($4.1K) | Paypal SC ($1.3K) | HSN ($2.5) | Sears ($2.6K) | Sams Club ($4.1K) |Goal|: Age with grace to 750 across the board |Last app|: 3/3/2014
Valued Contributor
MovingForward_2012
Posts: 3,406
Registered: ‎12-19-2012
0

Re: CR clarification reporting chapter 13

Ah!!!! I see now!!! Thanks for the thorough clarification. :smileyhappy:

Do you have your discharge letter? Couldn't you send that into Transunion to get the status changed? Or dispute it? You really need to get that changed on your report. When the discharge went through for me, all 3 bureaus reported the status change to discharged. That record should come off in 2013.
Cards: Orchard Bank ($1100) | Cap1 Cash Rewards ($2500) | Chase Freedom ($1000) | Best Buy ($2500) | Discover It ($1000) | Barclay Rewards ($2500) | Current scores: EX FAKO: 684, CK TU: 649, FICO EQ: 680, FICO TU: 698, FICO EX: 658 Happy Homeowner Since 2/6/13! :smileyhappy: Last App: 4/5/13 Gardening until July 2014
Valued Contributor
MovingForward_2012
Posts: 3,406
Registered: ‎12-19-2012
0

Re: CR clarification reporting chapter 13

I misspoke. If you filed in 2007, it should come off in 2014.
Cards: Orchard Bank ($1100) | Cap1 Cash Rewards ($2500) | Chase Freedom ($1000) | Best Buy ($2500) | Discover It ($1000) | Barclay Rewards ($2500) | Current scores: EX FAKO: 684, CK TU: 649, FICO EQ: 680, FICO TU: 698, FICO EX: 658 Happy Homeowner Since 2/6/13! :smileyhappy: Last App: 4/5/13 Gardening until July 2014

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