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Valued Member
Klaws1000
Posts: 43
Registered: ‎05-18-2009
0

Creditor NOT Reporting as $0.00

Hello all!!

 

This is my first post - I've been spending alot of time on these forums and I've learned so much - Thank you!!  I have my own question to throw into the ring.  

 

My husband & I were successfully discharged from our 3 year Chapter 13 in Feb, 2009.  On all 3 of my reports, I'm showing a charge off BALANCE from a creditor - who's account was INCLUDED in the bankruptcy.  Since they were unsecured they were paid 40% of their balance due through the bankruptcy payments - 60% of the original debt is still owed.      

 

This account is scheduled to fall off all three reports in AUGUST 2009.

 

I thought since they were listed in the Bankruptcy they should report the balance as $0.00.  Do I dispute this or should I leave it alone since its coming off in 3 months.   The DOFD would have been in 2005 sometime - and the SOL in Delaware is 6 years.  I don't want to wake a sleeping giant!

 

Our 15 year old van is getting close to 200K.  It leaks, smokes & plays taps - so I could use a newer car now - but it's not hard driven and I'm sure I can get another 3 months out of it - the folks at the auto parts store know us by name. LOL!.  

 

What do you think?  Thank you in advance!! 

 

10/2008 - EQ - 560  TU - 588  EX - 590

5/2009 - EQ - 617 TU- 653 EX - ? 

 

 

FICO SCORES: 7/29/14 - TU 692 EX 688 EP ?
Valued Member
Klaws1000
Posts: 43
Registered: ‎05-18-2009
0

Re: Creditor NOT Reporting as $0.00

Let me elaborate something further..

 

I have heard that its possible that creditors may attempt to recoup any monies after a bankruptcy has been discharged - none of our other unsecured creditors have tried to come back to haunt us.  

 

The date opened on this account is 5/2002 - and according to all three hard copy reports - all say "this account is scheduled to continue on record until Aug 2009".   

 

Besides the BK, this is the ONLY baddie left on all of my reports - so you can appreciate my obsession. 

FICO SCORES: 7/29/14 - TU 692 EX 688 EP ?
Member
RSHEPPICK
Posts: 24
Registered: ‎06-04-2009
0

Re: Creditor NOT Reporting as $0.00

You can simply call them up and or dispute it. Regardless of your fears, they would be in violation of not only the automatic stay but the discharge itself. In this case you and or your attorney could easily win in court against them and you would likely win sanctions against them, attorneys fees ect. One of the easiest things to prove is a creditor trying to collect against you while the automatic stay is in place and or after discharge, it is highly illegal for them to do so. Judges do not like this. I have seen this play out in front of me in court. I’d just call them up and tell them to report it correctly regardless of it falling off. they should do their job correctly. 
Valued Member
Klaws1000
Posts: 43
Registered: ‎05-18-2009
0

Re: Creditor NOT Reporting as $0.00

I had the opportunity to ask a bankruptcy attorney who is familiar with my situation this morning and she said the same thing. 

 

The debt was successfully discharged so IF they tried to come back it would be an easy fight to win. 

 

Both of your responses have put me at ease - THANK YOU! 

 

I'll happily dispute..and update here when I get results.

 

TO BOOT - the same creditor had listed this debt as an AUTO loan on my credit reports - instead of unsecured personal loan - I'm sure I now have a low Auto Fico Score until this can be corrected - geez louise - never seems to end :smileyhappy:

 

 

FICO SCORES: 7/29/14 - TU 692 EX 688 EP ?
Member
RSHEPPICK
Posts: 24
Registered: ‎06-04-2009
0

Re: Creditor NOT Reporting as $0.00

Klaws1000

 

You will find , that a lot of creditors dislike the ability for a debtor to claim bankruptcy.

 

A lot of times they will go to extream measures to create problems for you, one that has happened to me, the creditor changes the account number at the same business in an effort to further lower my score and create problems for me.

 

Make sure any item that does show up after your bankruptcy that could possibly be sold to junk collectors that the date opened is the same (obviously the balance has to show zero).

 

They do some very wrong things and a lot of times people dont stand up to them and fight back.

 

Make sure you fight back, dont let people push you around simply because you are not informed of your rights.

Valued Member
Klaws1000
Posts: 43
Registered: ‎05-18-2009
0

Re: Creditor NOT Reporting as $0.00

Rsheppick: 

 

I understand your fustration as well with dealing with your former creditor - I'll definately keep a lookout for junk collectors.  Oh..don't worry, you bet I'll fight back - the laid back personality that I am can turn instantly tenacious when it comes to situations like this - I just needed to be informed & assured.  Just curious, with regard to your situation, did they try that ploy once - or more then once - with you?

 

This forum is probably my best find in recent memory - such a great way to become and stay informed. 

 

 

FICO SCORES: 7/29/14 - TU 692 EX 688 EP ?
Member
RSHEPPICK
Posts: 24
Registered: ‎06-04-2009
0

Re: Creditor NOT Reporting as $0.00


Klaws1000 wrote:

Rsheppick: 

 

I understand your fustration as well with dealing with your former creditor - I'll definately keep a lookout for junk collectors.  Oh..don't worry, you bet I'll fight back - the laid back personality that I am can turn instantly tenacious when it comes to situations like this - I just needed to be informed & assured.  Just curious, with regard to your situation, did they try that ploy once - or more then once - with you?

 

This forum is probably my best find in recent memory - such a great way to become and stay informed. 

 

 


 

If you look for my post in the bankrupcy forum, you'll see what I'm talking about *laugh*
Moderator Emeritus
Tuscani
Posts: 6,182
Registered: ‎03-29-2007
0

Re: Creditor NOT Reporting as $0.00

Use this letter:

This letter is to inform you that you are reporting incorrect information in my Equifax, TransUnion and Experian credit reports.
The account in dispute was discharged in Chapter 7 Bankruptcy on 01/2009. My Equifax, Transunion and Experian credit reports show that you have this account listed as “Charge Off/Bad Debt”. This is totally inaccurate information. The Fair Credit Reporting Act allows only for completely accurate information to be reported. You are in complete violation of that act by reporting this account as “Charged Off”. I disputed this account with all three bureaus in May 2009. They notified me by mail that this item was verified as accurate by you this month, June 2009. This is another violation of the FCRA. The FCRA allows for statutory damages of $1000 PER violation cited. Since this requires no investigation by you, I demand the complete deletion of this information from my Equifax, Transunion and Experian credit reports within 15 days of the receipt of this notice. I look forward to resolving this matter amicably without pursuing legal means.

Valued Member
Klaws1000
Posts: 43
Registered: ‎05-18-2009
0

Re: Creditor NOT Reporting as $0.00

I wanted to update this issue.

 

As of today this baddie is now deleted from all 3 reports!  I'm looking to secure a car loan in the next couple of months and this baddie needed to disappear in order to make that happen.  Thank you!

FICO SCORES: 7/29/14 - TU 692 EX 688 EP ?

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