02-28-2013 06:02 PM
I thank you for the great info you have provided.
Is there a legal statue that I can use in my letter that forces them to change the status from derogatory to current in regard to bk's?
b. Included in Bankruptcy
c. Current (not "default/derogatory" status"
3. For any accounts that do not meet all of the criteria in #2, file a dispute "Included in Bankruptcy" and "Incorrect Balance"
As long as the account was iibk and was not charged off prior to BK, you can dispute as "included in bankruptcy"
02-28-2013 06:10 PM
Half of my old BK account say current/ closed while the other half are listed and included in bk/ closed but under the category as "potentially negative"
i think i want all of the to be the former in which case the goal it to get the " late payments to go away"
any addtional advice?
03-01-2013 07:22 AM
The late payments won't go away until 7 years past your DOFD. You just want all those accounts to have a $0 balance and say "Included in BK"
Unfortunately, BK does not erase the records of late payment. They will stay on your report until they fall off. The good news is that they stop having as big of an effect over time.
03-01-2013 07:23 AM
I also wanted to say that all my accounts were charged off before BK. They all said "Included in BK" even though they were charged off.
They have all fallen off now, except one of them- it'll finally fall off in 2014, then I'll only have one negative (the big BK) reporting.
03-03-2013 02:48 PM
Just beginning my journey. Filed for ch 7 dec19 2012. Discharge should occur at end of month. Gonna follow this thread religiously to get to a 700!
03-03-2013 04:37 PM
03-04-2013 04:52 AM
IIB by itself is derogatory, and accurate records of lates incurred before you filed are proper reporting.
Actually the ones showing closed/current instead of IIB are incorrect if you discharged a balance. I did have several accounts that were closed by the lender when in good standing before I filed. Yet they picked up my BK and changed them to IIB. Because I had a copy of my pre-filing CRs I was able to force them to go back to closed with a clean status and cut down the number of IIBs..
03-12-2013 01:18 PM
How do you get them or force them to say " Current (not 'default/derogatory') status"?
It cannot say "current" if it was included in BK. That account will be derogatory until it falls off your credit report in seven years. The advantage of having it say "IIB" is that it will report as a $0 and should report as closed. It will never be a positive account.
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.