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Hopefully one of the gurus on this list can help.  I apol...

Regular Contributor

Hopefully one of the gurus on this list can help.  I apol...

Hopefully one of the gurus on this list can help.  I apologize if this is lengthy and I will try to make it short and sweet.  Situation:  BK 13 in 2003, Dismissed 2005.  2 accts were included in BK, however, they continue to report as charged off accounts with a current balance.  Have written numerous times to have these removed or at least reported correctly as "included in BK with 0 balance".  CB's have not budged and keep saying that the accounts have been verified.  I never asked for verification and I find it odd that they keep telling me that the accounts were verified...Because I called the OC, who confirmed that they received dismissal papers and the amounts should read as 0 balance included in BK.  They would not disucss the account further with me, but indicated that they would send updates to the CB.  How long do I have to wait for the CB to report the new information and how can I assure that this will be taken care of.  I think this dings my score, although the balances are not that much.  Any suggestions or information as to how much it really impacts my score.  DOLA is 2002.
Message 1 of 9
8 REPLIES
Moderator Emeritus

Re: Hopefully one of the gurus on this list can help.  I apol...

Accounts included in bankruptcy are supposed to reflect a 0 balance by law since you have attempted several times to have this updated, I would go to www.ftc.gov and file an online complaint.  By law if a creditor refuses to report correct information that must beremoved from your credit profile.  I went through te same thing until I explained to EQ that my next letter would be to the FTC.  It has since updated to show zero and is , proudly, my last IIB on file and I'm chomping that the bit for the delete date.  And this is almost at th FULL seven years the people were still giving me a headache
Message 2 of 9
Regular Contributor

Re: Hopefully one of the gurus on this list can help.  I apol...

Thanks, Brammy.  Do you think it will make any real difference in the FICO? 
Message 3 of 9
Moderator Emeritus

Re: Hopefully one of the gurus on this list can help.  I apol...



dazednconfused wrote:
Thanks, Brammy.  Do you think it will make any real difference in the FICO? 


 
I can be honest and say I really don't know but it will make a whole lot of difference once you get  reestablished and some zombie tries to slap it back on your report.  Trust me, been there,  dropped 50 points and got ratejacked in the same breath took an act of congress and the FTC to get that thing off.
 
JMHO

Message 4 of 9
Regular Contributor

Re: Hopefully one of the gurus on this list can help.  I apol...

LOL.  I'll keep you posted and let you know if the scores changed...
Message 5 of 9
Senior Contributor

Re: Hopefully one of the gurus on this list can help.  I apol...

dazednconfused,
 
If the account went to charge off before you filed, then they can report it as a charge off. However, balance has to report as $0.
 
Did you send your letters to the CBs via CMRRR? If not, do that. Sometimes that alone is enough to get 'em to blink. Tell 'em the account was included in a BK. Wait for the RRR green card and then their written response and updated copy of your CR.
 
If they don't correct it when you get your updated report, send a letter CMRRR to the OC. Tell them the CBs verified the account and that you are disputing their reporting to the CBs. Their response, in writing that they've updated your reports is the ammo you want.
 
Once the OC sends you something in writing stating they have updated their reporting to the CBs, dispute with the CBs again and include a copy of the letter from the OC. Send it CMRRR. If the written response you get from the CBs still comes back verified, then send an ITS (Intend To Sue) letter for their violation of FCRA section 623.
Message 6 of 9
Regular Contributor

Re: Hopefully one of the gurus on this list can help.  I apol...

Actually, the account did not go to charge off prior to BK - it was paid as agreed, so I am not quite sure why the dola is reporting as 2002.  What is burning me is that the accounts are being reported as open accounts with a balance due, and were absolutely, positively included in the BK.  This was confirmed with the OC.  The woman that I spoke with confirmed that the reporting was incorrect and indicated that she would notify the appropriate department for correction to all three bureaus.  This was about 2 weeks ago, so perhaps I haven't allowed enough time.  It is amazing how much information on the CB can be incorrectly reported.  Anyone reading this...make sure that you get a copy of your report and check it carefully.  Items that seem inocuous can really do a number on your score.
Message 7 of 9
Moderator Emeritus

Re: Hopefully one of the gurus on this list can help.  I apol...

Give them 30-45 days
Message 8 of 9
Senior Contributor

Re: Hopefully one of the gurus on this list can help.  I apol...

Wait for the CBs to respond. Once they send you updated reports, if it's still not correct, then dispute via CMRRR. Calling the CBs often just leads to a lot of delays and frustrations when they lie and refuse to investigate.
Message 9 of 9