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Before and after my discharge, I took care to run, review and make an effort to clean up my baddies to make sure everything was included as IIB in my credit reports. After filing the disputes, TU and EXP were quick to remove or adjust the IIB accounts to $0 and closed (with IIB comments). However Equifax is a different story altogether. After initially filing the disputes 30 days ago, they immediately placed the three accounts in question into a 'Collections status', showing all of the late pays leading up to BK filing. Prior to the dispute, these 3 accounts only read as 'closed'. So, even filing the disputes tanked my Equifax scores. No clue why they had to go and make the status even more harmful while they investigated.
Anyhow, moving along, this morning I received word from Equifax that their findings were complete. So I logged in to find some even more unsettling news from them. On all three accounts in dispute, they decided that the accounts were being reported correctly by the creditors. Mind you, all three creditors were IIB and all three creditors are reporting the same accounts as IIB to Experian and TransUnion (correctly).
I guess my question is, whats next? Do I just live with an incorrect reporting or do I have further rights to have it corrected? BTW: My EquiFax score tanked 22 points today because of the results of their investigation. Any suggestions?
@beezer32 wrote:Before and after my discharge, I took care to run, review and make an effort to clean up my baddies to make sure everything was included as IIB in my credit reports. After filing the disputes, TU and EXP were quick to remove or adjust the IIB accounts to $0 and closed (with IIB comments). However Equifax is a different story altogether. After initially filing the disputes 30 days ago, they immediately placed the three accounts in question into a 'Collections status', showing all of the late pays leading up to BK filing. Prior to the dispute, these 3 accounts only read as 'closed'. So, even filing the disputes tanked my Equifax scores. No clue why they had to go and make the status even more harmful while they investigated.
Anyhow, moving along, this morning I received word from Equifax that their findings were complete. So I logged in to find some even more unsettling news from them. On all three accounts in dispute, they decided that the accounts were being reported correctly by the creditors. Mind you, all three creditors were IIB and all three creditors are reporting the same accounts as IIB to Experian and TransUnion (correctly).
I guess my question is, whats next? Do I just live with an incorrect reporting or do I have further rights to have it corrected? BTW: My EquiFax score tanked 22 points today because of the results of their investigation. Any suggestions?
File a complaint with the CFPB on each of the creditors who verified it to be true, they are each breaking federal laws. The payment history can remain pre BK filing month but it has to be updated to IIB with 0 balance from date of filing forward once you get the discharge.
http://www.consumerfinance.gov/complaint/
Thanks folks! Super helpful. I'll do both recommendations. I've also filed a second dispute against the accounts but this time I provided image evidence of my Schedule F inclusion. I'll contact the creditors tomorrow and if Equifax doesn't get it right this time, I'll file the complaint. It sucks that we are bound by creditworthiness, especially if when it's inaccurate.