Lates reported after BK

Anonymous · ‎07-02-2008

I filed BK in Mar04 (discharged in Apr04) and my mortgage was included in the BK. I recently noticed on my CR that for 11months after discharge, Chase continued to report lates and RF's to the CRA. I have reviewed my BK docs and spoken with the attorney who filed for me. Chase had no right to continue to report anything after filing.

My question is, if/when I get Chase to remove these items, how much could I expect my score to rise?

Anonymous · ‎07-02-2008

@Anonymous wrote:
I filed BK in Mar04 (discharged in Apr04) and my mortgage was included in the BK. I recently noticed on my CR that for 11months after discharge, Chase continued to report lates and RF's to the CRA. I have reviewed my BK docs and spoken with the attorney who filed for me. Chase had no right to continue to report anything after filing.
My question is, if/when I get Chase to remove these items, how much could I expect my score to rise?

This is a good point I think, but let me see if I understand correctly.

I just filed Ch. 7 and my reports show, for example, Chase: "Included in Chapter 7 Bankruptcy" "120 days late". SOME reports show it as "WAS 120 days late" while others show it as just "120 days late".

I have heard some say it's legal for them to show it as late because it WAS late (before filing bankruptcy). And I have heard others say that since it was included in bankruptcy all it CAN LEGALLY SAY is "included in bankruptcy " and "0 balance" and "closed". So I am confused about this.

I have about 7 accounts that I included in BK and they show "late" between 90-120 days, which is true, they WERE late before I filed. But it appears as if they ARE late, not WERE late... If someone could clarify the law on this I'd appreciate it. And by the way, let's say the law is that it has to show ONLY "Included in Bankruptcy" no lateness reports.

So if they still show lateness reports, after I dispute, how do I force them to take it off? What legal course do I have?

To me it seems like I'm getting a double whammy by them reporting both "late" AND "Included in bankruptcy". Of course it was late, that's WHY I filed bankruptcy - I could not pay it! So are they legally allowed to show "120 days late" after a Ch. 7 discharge or not? Message Edited by pdsnickles on 07-02-2008 02:25 PM

Message Edited by pdsnickles on 07-02-2008 02:28 PM

Uniqua · ‎07-02-2008

Dispute anything reporting incorrectly after you filed BK. However, if the accounts were not IIB, the information is correct. If they were included, they can not continue to report late payments. I had New York & Company do that to me just recently. I kept disputing the information as duplicates and incorrect. The actual account was a Lerner account which was showing on my CRs and the information for the account was correct. NY&C decided to add the account again under the NY&C name and show 2 years of late payments (120 days). This was illegal for them to do.

After fighting with them and the CRAs and the information kept coming back as verified, I notified the FTC and the Department of Banking in my state (I had to do this with Macy's as well as they did the same thing when the original account was a Filene's account). They sent correspondence to them on my behalf alerting them of the violation. Neither Filene's, Macy's, Lerner nor NY&C are reporting on any of my CRs as of today.

These situations were just rectified within the past two weeks.

Uniqua · ‎07-02-2008

BTW richcamp1973, don't expect to see a major score hike if Chase updates this information. You may gain a few points, just don't get your hopes up too high. They may stay where they are for the moment, it depends on your overall credit picture.

hawaiitony · ‎07-05-2008

Can a lendor report a "CO" colection/charge off after the bankruptcy has bee filed/dischraged?

Message Edited by hawaiitony on 07-05-2008 07:30 PM

credit911 · ‎07-06-2008

After the BK is discharged all accounts should read included in BK. You will need to contact the credit reporting agency that is reporting that and have it fixed. The lender should not be able to update information after the discharge.

Anonymous · ‎07-09-2008

so no one ever answered her question if you are late before a chapter 7 bk and you were late before filing can they still disclose the accounts as late or must they show zero balance and state included in bk? Please help as I have the same unanswered question!

Uniqua · ‎07-10-2008

If you were late before filing BK, filing BK will not change this information as it is accurate. Once you file, all accounts on your CRs which were IIB should say so. No lates should be reported after the date of filing. Depending on which BK you file, balances (secured debt) will/may still show until the BK is discharged if you filed Ch 13; however, unsecured debt IIB and discharged should show $0. All debt discharged in a Ch 7 should show IIB and $0 balance.

Anonymous · ‎10-09-2009

I had a mortgage discharged in a CH 7 11/2006. The Mortgage company had reported it as a foreclosure even though they did the foreclosure after the BK, but it also said included in CH 7 in the notes on the CBs. In 05/2009 the Mortgage company rereported the mortgage with the same info, but a new report date. Can they do this??? They are ruining my chances of buying a new home. I tried to contact them today, and they cant seem to pull up any acct. info because the acct. is so old. They gave me a fax # to send a letter to with my concerns. Like that will get me anywhere. How long can debt that was included in CH 7 BK report on CB? Thanks so much!

Anonymous · ‎12-22-2009

hi. I had the same problem with one lender reporting my account in foreclosures. filed bk in 06/07 and they continued lates. spoke to different ones there and they continued to say they were doing it legal even experience. I finally got them to reverse this month after a almost 6 months of writing letters directly to them and to the credit bureaus. They finally told me its against the law to report other than in bankruptcy..