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Is it possible to DV accounts IIB?

New Member

Is it possible to DV accounts IIB?

I filed bankruptcy with my current wife in 2/2011, it was discharged 5/12/2011. I have recently started going through my reports and I see many collection accounts I wasn't aware of. Is it recommended to get these debts valudated even though they wereIIB? Many of them were suppossed to be PIF by my ex wife when she closed utility accounts, etc according to divorce agreement.

 

I have been reading and researching on here as to what to do first but I could use help/guidance from some of you who have been in my situation before.

 

I recently got a HSBC Household Card w 300CL

                           Capital One Secured Card w 200CL

 

HSBC reported the first day I activated so the 59AF is reported but scores jumped from this. I will PIF both monthly.

 

If there are other things I should be doing please give me some guidance as to what I should do first! Thanks!

 

Credit Scores:

EX:started 5/31/11 587(FAKO)

                   6/25/11 610 (FAKO)

TU:started 6/7/11 539

                  6/16/11 526

                  6/24/11 563

EQ: started 6/10/11 611

                      6/17/11 617

                      6/24/11 617

 

Message 1 of 9
8 REPLIES
Moderator Emeritus

Re: Is it possible to DV accounts IIB?

Welcome to the forums!

 

I know zilch about BKs, yet alone TLs reporting in BKs, and I could be wrong, but I don't think that CAs that were included in the BK are not allowed to report. Someone correct me if wrong. DV letters are a function of the FDCPA which covers CAs only. I guess if a CA were reporting in a BK you could send them a DV letter.

Message 2 of 9
New Member

Re: Is it possible to DV accounts IIB?



llecs wrote:

Welcome to the forums!

 

I know zilch about BKs, yet alone TLs reporting in BKs, and I could be wrong, but I don't think that CAs that were included in the BK are not allowed to report. Someone correct me if wrong. DV letters are a function of the FDCPA which covers CAs only. I guess if a CA were reporting in a BK you could send them a DV letter.


 

 Ok.....so you think they are allowed to report, but listed as IIB? I just was not sure bc on my TU I have one listed but on EQ, I have none. DW has six on TU but none on EQ on myfico. I just want someone to give me an idea where to start with the clean up process! I would like to DV all the CA's on all 3 CRA but I wasn't sure if that is possible after they are IIB. Thanks for the response though, I need the guidance! Any further advice as to where to start?


Message 3 of 9
Moderator Emeritus

Re: Is it possible to DV accounts IIB?

Hi tj_kentucky,

 

Welcome! 

 

I'm trying to come up with a helpful response, but I'm lost on this statement from your post:

 

I see many collection accounts I wasn't aware of. Is it recommended to get these debts valudated even though they wereIIB?  


I'm not familiar with CH 7 BK, but in CH 13 BK, you have to list all the accounts IIB.  Is it different in CH 7?

I guess my question is how can you include an account in BK without being aware of the accounts?

And the reason I'm asking is it may make a difference in how things report.  Perhaps you aware of the accounts and paid them through the BK, but were not aware they become CA's?

 

Sorry for my confusion. 

Just puttin' syrup on something, don't make it pancakes.
Message 4 of 9
New Member

Re: Is it possible to DV accounts IIB?

I have known about these accounts only since filing CH 7. I was unaware of how many accounts had been opened in my name with a POA while I was deployed with the Army. My lawyer  included all the accounts listed on my CR's, but I would like to DV these accounts just to be sure they were even mine to start with!

 

In my divorce settlement, my ex agreed to change the bills out of my name and pay the balances but some of these CA accounts are from those same bills. Is the settlement agreement enough to dispute the fact that I don't owe it but her?

 

I just do not need any additional accounts reporting IIB, if DVing the JDB would work to have them removed. My main question was can you DV a debt that was IIB? Is it legal? Can they say I validated it but including it? Thanks for the response, I appreciate your help!

 

Message 5 of 9
Valued Contributor

Re: Is it possible to DV accounts IIB?

Unfortunately the divorce decree is not binding on creditors.  So if your ex-wife failed to pay off items as required by the decree, your only recourse would be to sue her for violating the divorce decree, you can't tell the creditor to go after her, not you.  So these are valid to report, but reporting cannot show dates after the discharge date (some say filing date), and must show 0 balance with IIB.

 

If new accounts were opened by your ex without your knowledge or permission, and after the divorce, then you have to consider treating as identity theft, starting with a police report.  Otherwise these report the same - 0 balance with IIB.

 

 

 

 

BK7 Filed 8/11/2009 Discharged 11/23/2009. Purchased new home 4/11/2012
Starting Score:11/16/2009 EQ 566 11/16/2009 TU 538
Interim Score: 12/27/2012 EQ 683 09/17/2012 EX (lender) 670 1/01/2013 TU 701
Current Score: 11/06/2013 EQ 708 11/06/2013 EX 702 11/16/2013 702 11/06/2013 TU 729
Goal Score: EQ 740 EX 740 TU 740
Take the FICO Fitness Challenge
Message 6 of 9
Regular Contributor

Re: Is it possible to DV accounts IIB?

I have not disputed the validity of the line items that were included in the bk.  What I have done, is write each of the creditors a GW letter asking them to remove the derogatory remarks and state that they were IIB.

 

Those accounts have come off my reports in total, or have been updated to say paid in full, no lates.  YMMV Smiley Happy

 

Edited to add:

 

Make sure you know the due date and statement dates of your cards.  Your due date may be June 24 with a statement date of June 30th.  Make sure you PIF by the 24th and DO NOT charge anything until July 1 in the aforementioned scenario.  By doing this, you will never have a utilization % which will help... OR as some suggest, leave like <9% of your total utilization on one card.

 

For instance:

 

If you have composite CL on your cards of $500, do not let more than $45 sit on your cards in total, or alone.  One thing I learned from here is that util also looks at %util on each individual card.

 

So:

 

Cap 1 - $200 CL

HSBC - $200 CL

 

$400 total CL

 

9% total util = $36

 

BUT!!!!!!

 

9% on each card is $18.  It has been suggested to have only one card carry a small balance.  In this example, you'd only want exactly one card to carry $18, no more than that to keep that one card alone under 9% utilization.

 

I don't carry any balance.  I hate paying interest Smiley Happy

 

Hopefully, my example made sense.

 

 

Message 7 of 9
Highlighted
Senior Contributor

Re: Is it possible to DV accounts IIB?

DV isn't appropriate to use here and carries no weight of law.

 

Anything that was IIB must be reported as zero balance, zero due, nothing past due.

 

If it was late, CO, etc. before the BK filing, then that can remain so long as it is accurate.

 

Message 8 of 9
Senior Contributor

Re: Is it possible to DV accounts IIB?

I have a handful of CA's that state "included in bankruptcy" and was told there is nothing I can do. 

STARTING: 11/24/10 EQ-584 EXP-648 TU04-595
CLOSED FIRST HOME 8/19/11 EQ-630 EXP-691 TU04-653
CURRENT: EQ-701 EXP-??? TU08-720
Message 9 of 9