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Fazak
Posts: 1
Registered: ‎05-13-2010
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Late Payment Reporting After Chap 7 Discharge

TransUnion and Equifax both do not report previous late payment info since my Chapter 7 discharge, status is listed as Unknown. Experian is continuing to list all late payments in the last 7 years regardless of discharge. Is this correct reporting?

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mojoch7
Posts: 6
Registered: ‎05-10-2010
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Re: Late Payment Reporting After Chap 7 Discharge

Hi Fazak.  As I understand it from my BK attorney, they can continue to list all late payments prior to petition.  However they cannot apply date data to your file for the time period post petition (local rules may vary but this is true in my jurisdiction).  How long ago was the discharge?  Mine has been a year and I'm still cleaning up misreporting.


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jamescomplete
Posts: 1
Registered: ‎05-13-2010
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Re: Late Payment Reporting After Chap 7 Discharge

I'm not only seeing that but according to myFICO my Transunion score is suffering due to current late payments as recent as last month. There haven't been any since my discharge 17 months ago. One of their reps told me over the phone that it is because my mortgage account is still being updated every month and is showing a balance even though it was discharged in the bankruptcy. I am paying it still so I can keep my house, and I'm paying it on time. She says that this is causing it to show up as late payments. That's crazy. I tried to dispute the the continued updating of my account to the credit agency with Transunion. She said that I can't dispute that and that they are just confirming the account status every month. She said it was a problem on myFICO's behalf not Bank of America's. Talk about frustrating. My score is 674 with Equifax but only 608 with Transunion. I wonder what it is at Experian.?

Established Member
butterfly40324
Posts: 21
Registered: ‎08-28-2008
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Re: Late Payment Reporting After Chap 7 Discharge

Im having the same issues with Transunion.  I have the quarterly monitoring and the last report (5-5-10)  shows the number two reason affecting my score is that I have late payments within past month yet there have been none since my discharge in November.  Yet when I look for the lates on the report itself there are no lates reporting.   I was told the same thing by a MyFico rep that I have accounts updating each month triggering the late payments.  She actually said she wasnt sure that is what is causing the trigger but that she doesnt show any lates on my report so she assumes that may be the reason.   I even called Transunion and that rep told me that there is nothing showing late on my report since bankruptcy and they arent sure why that MyFico is factoring recent lates into my score.  What I find odd is that the same accounts update every month on my Equifax report but on the factors listed affecting my score it states last late payments were 9 months ago, which is correct.


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mojoch7
Posts: 6
Registered: ‎05-10-2010
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Re: Late Payment Reporting After Chap 7 Discharge

When I disputed the mortgage thing, TU took the account off my record entirely within 3 days of online dispute.  Any misreporting is disputable with the creditor and the CRA that takes the report.

 

It is a-ok to continue to pay the mortgage after BK but you are not personally liable ergo it should not report.  Technically this is known inaccurate reporting according to section 618 of FCRA and is subject to sanction/fines.  Nevertheless if you are paying on time it should not show as late payments.  It has taken me a sum total of 47 disputes across the three CRAs to get most of the post BK inaccuracies off of my report and I still have two more to clean up.


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csmen
Posts: 6
Registered: ‎12-29-2009
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Re: Late Payment Reporting After Chap 7 Discharge

I too am having a similiar issue with TU. My BK discharge was 1/3/08. I did not reaffirm my 1st or my 2nd, but have continued to make payments. TU shows my 2nd as included in the BK and is red flagged with status as "Unrated". TU does not show my 1st as included in BK, shows status as Paid or paying as agreed, and is not red flagged.  I have no late pays on anything since BK, and yet my 5/15/10 TU CBR says I have 1 late pay in the last month?  Not sure why, but based on what people are saying above I wonder if it has to do with my 1st still showing as an active account.  I haven't disputed it before, because I thought it was a good thing to have it on my CBR, but now I wonder if it is better to have it corrected as included in BK with the red flag?  Any suggestions?


Starting Score: 3/20/08: EQ 612, TU 555, EX 635
Current Score: 5/1/10: EQ 693, TU 579, EX 660
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