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Help understanding credit report

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Anonymous
Not applicable

Help understanding credit report

So I was just discharged on 7/25. I was told to make sure all my accounts show dischatged on my report.

Is it too soon for them to show discharged?

I just signed up with a Transunion report. Under accounts and in the status column, one says 30 days past due, many say paid or paying as agreed, and the rest which i think most should be dischaged say unrated. Is this the equivalent of discharged?

Just want to make sure everything is good as I try to somehow get my miserable credit score to move up to a decent score.

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Anonymous
Not applicable

Re: Help understanding credit report

If I were you I would go to each CB site, and you can view your credit for free if you're disputing your items on the credit report. That's what I did before I was DC since I didn't want to have to wait around for everyone to update everything, since most of the time they're lazy or want to argue "it's being reported correctly". What I would do is if your BK is DC upload the docs showing the list of creditors to your computer, so you can then upload it to each credit bureau when you do the dispute. You should dispute each item that was included in your BK to report "included in CK chapter _ and should reflect a zero balance". If anything was already a charge off prior to your filing, then that would be correct and it would stay listed as a charge off, but should say included in BK, same goes for any late reportings. If you were late prior to filing bk then it would stay reported as late. The disute process can take up to 30 days to compelte. So far mine are all going well, except for Capital One wants to argue that they don't need to update it since it's reporting correctly and have it listed as an open trade with current payments being made even while i'm in BK and haven't paid them anything. SO I have to re report the dispute against them, and I'm making sure to send in my documentation showing they are an included creditor.

Message 2 of 3
jmclaughlin1982
Established Member

Re: Help understanding credit report

Welcome to the forum and congrats on your fresh start!
As Harley said, each creditor included in your bankruptcy should be reporting as "Included in Bankruptcy" and 0 balance.
I would recommend start with a blanket dispute. Dispute everything on your report and ask each bureau to "verify all information" for each creditor. If you do it online you can select a reason, I'd say "there are multiple inaccuracies in this file."
You may want to dispute through the mail, that's just as simple as sending your information with a copy of your report and a dispute form that you can print from each website of each credit bureau. List the same reasons I just said, there are multiple inaccuracies and ask for everything to be verified.
Give them 30-45 days and you should get an update on your dispute. Check your report, they will provide you with a new copy of your updated report after your dispute.
If you see anything wrong, again all files should show 0 balance and "included in bankruptcy, dispute each one individually, this time citing that it was included in BK.
If you're lucky like I was several of your creditors won't even bother to verify info in the first dispute and they'll just delete the account (I had 3 accounts deleted this way.)
Make sure to send in a copy of your discharge order AND list of creditors notified of discharge.
If the second dispute doesn't work you can get with your lawyer (I recommend this) or send a cease and desist letter yourself. Notify each creditor reporting inaccurately that they are in violation of the Permanent Injunction if bankruptcy and that they have 30 days to correct the issue and report your account correctly or you will seek further legal action. They can be held in contempt for not reporting correctly and they know it.
As Harley noted, if it was charged off before BK they can still report that, as long as it is reported as IIB. Some have different stories about how their past payments are reported, all my accounts are listed as "no prior payment information reported for this account."
Good luck and hope this helps. Keep us updated on your progress and feel free to ask anything of any of us!
BK7 filed 3/23/2016 DC 6/20/2016


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