Rebuilding *during* Chapter 13?

[Math_Rocks]

I posted on the rebuilding forum but didn't get a response so I am going to ask this here. We are currently 1 year into a 5 year Ch. 13 BK. We were just approved for a $1000 secured CC through a local bank (who uses Elan Financial). Other than that, we are paying our mortgage outside the BK and two car loans through the BK.

I pulled my credit reports yesterday through annualcreditreport.com. (Actually, was only able to get TU and EXP online - I have to mail in a request for EQ.) There are MANY errors on there. We filed 04/30/2012 but some accounts show BK in June or July and us late until then. Other accounts report Ch. 7 BK instead of Ch. 13. And, finally, the biggest error (to me) is that one of the car loans does not show IIB and has been reporting us 120 days late for the last several months. I am actually amazed that we were able to get the secured card. (Also tried Cap 1 and was declined for the secured card.  ) Should I try correcting these errors? Or do I need to wait 4 years until the BK is discharged? If I should correct them now, what paperwork do I need from the BK attorney? I would appreciate your advice. 

[mimsey11]

I'll take a stab at it. Your case was filed in Apr but wasn't confirmed until June or July. For some reason it takes a few months to get confirmed, I think it has to do with making sure you can make your chapter 13 payments on time. I would definitely initiate a dispute over the ch7 report. As far as rebuilding your credit I waited til I got unsecured credit card offers to start that task. Now I'm one month away from being discharged, and my score through equifax is 630.

[granny031350]

I worked hard on my credit reports all through out my bk challenging everything to get it right.  Then after discharge (30 days) I closed on my house.   It can pay off!

[patf]

I think that the sooner you dispute the errors, the better off you will be.  It seems to me to be much harder 4 years after the fact. However, you said that the cars are paid through the BK, so if that is the case, they are not going to show current in your credit report.  I know it's frustrating, but that is what we found out.  Our one car loan is showing that it is in the BK, which in fact it was not and we have made every single payment on time, but they refuse to correct it.

Also, supposedly a Chapter 13 looks better than Chapter 7, however, the 7 gets discharged shortly after filing so from that standpoint, it would be much better off.

Good luck!

[drboxing]

Just completed my chpt 13 payment program (64 months). Waiting on my discharg. What advice can you give on working on credit reports? Those companies are too expensive, would appreciate any info or direction

[Math_Rocks]

Congratulations, drboxing! What a terrific accomplishment. I can't wait to be where you are. 

Since we haven't received discharge - still a long way off - I cannot recommend your next step. However, from LOTS of reading on these forums, anything those credit repair places can do, you can do yourself for the cost of envelopes and stamps.

Best of luck!

[Succeedin2]

Dispute as much as you can!