Hello All,
I have been lurking in these boards for a while now and have learned a lot. However this is the first time post and I feel I need some of the great advice that is given here.
A little history: I filed for Bankruptcy CH 13 in 2009 and discharged in March 2013.
I IIB an installment loan from Citifinancial that was always paid on time. It had dropped off my report during the bankruptcy and just this past May they started reporting again as a charge-off with an update of 5/2014. Plus they have reported the same account twice with different account numbers (everything else is exactly the same and I only had one account with them). I have disputed with all three CRA's and am waiting on their response.
My questions are: Can they do this? Did I do the correct thing? Or should I do something else? I noticed this because my FICO score dropped 50 points and I had no idea why. To say the least, I am pretty upset at this as I have been following these boards to try to reestablish my credit. Any information will be greatly appreciated.
Thanks in advance!
Starting Score: 580
@Radjim wrote:Hello All,
I have been lurking in these boards for a while now and have learned a lot. However this is the first time post and I feel I need some of the great advice that is given here.
A little history: I filed for Bankruptcy CH 13 in 2009 and discharged in March 2013.
I IIB an installment loan from Citifinancial that was always paid on time. It had dropped off my report during the bankruptcy and just this past May they started reporting again as a charge-off with an update of 5/2014. Plus they have reported the same account twice with different account numbers (everything else is exactly the same and I only had one account with them). I have disputed with all three CRA's and am waiting on their response.
My questions are: Can they do this? Did I do the correct thing? Or should I do something else? I noticed this because my FICO score dropped 50 points and I had no idea why. To say the least, I am pretty upset at this as I have been following these boards to try to reestablish my credit. Any information will be greatly appreciated.
Thanks in advance!
If the account was delinquent and not brought current at the time of the BK filing then the DoFD sets the amount of time it can report, if it was current at the time it was filed the time period for reporting starts the month/yr the BK was filed. They can only report 1 TL not duplicate of the same, you are right to have disputed, the TL must report as IIB 0 balance due, it cannot be COed this year since it was already discharged in BK. If you do not get satisfaction from the disputes file a CFPB complaint on them. When they re-reported it that is the source of your Fico drop. Welcome to MF 
@gdale6 wrote:If the account was delinquent and not brought current at the time of the BK filing then the DoFD sets the amount of time it can report, if it was current at the time it was filed the time period for reporting starts the month/yr the BK was filed. They can only report 1 TL not duplicate of the same, you are right to have disputed, the TL must report as IIB 0 balance due, it cannot be COed this year since it was already discharged in BK. If you do not get satisfaction from the disputes file a CFPB complaint on them. When they re-reported it that is the source of your Fico drop. Welcome to MF
Thanks gdale6 for the response! That is as I assumed. This iw what it is showing now:
Balance: $0
Date Updated: 05/31/2014
Payment Received: $0
Last Payment Made: 02/27/2012
High Balance: $9,139
Original ChargeOff: $6,258
Pay Status: >Charged Off<
Terms: $119 per month, paid
Monthly for 113 months
Date Closed: 05/31/2014
Remarks: TRANSFERRED TO ANOTHER LENDER; >UNPAID BALANCE CHARGED OFF<
Estimated month and year that this item will be removed: 03/2016
No where does it state IIB and they showed the closing date of 5/31/14. Prior to BK it was showing "Pays as agrees", then it disappeared after I filed CH 13 in April 2012. I just did not understand how they could do this, and to top it off, they added a second account (slightly different account number) with the exact same info including balances. I am patiently waiting on a response from all 3 CRA's, but the wait is killing me as I have made all my payments on time since and got my FICO score up to 671. This dropped it back down to 623. I will continue to wait.
@Radjim wrote:
@gdale6 wrote:If the account was delinquent and not brought current at the time of the BK filing then the DoFD sets the amount of time it can report, if it was current at the time it was filed the time period for reporting starts the month/yr the BK was filed. They can only report 1 TL not duplicate of the same, you are right to have disputed, the TL must report as IIB 0 balance due, it cannot be COed this year since it was already discharged in BK. If you do not get satisfaction from the disputes file a CFPB complaint on them. When they re-reported it that is the source of your Fico drop. Welcome to MF
Thanks gdale6 for the response! That is as I assumed. This iw what it is showing now:
Balance: $0
Date Updated: 05/31/2014
Payment Received: $0
Last Payment Made: 02/27/2012
High Balance: $9,139
Original ChargeOff: $6,258
Pay Status: >Charged Off<
Terms: $119 per month, paid
Monthly for 113 months
Date Closed: 05/31/2014
Remarks: TRANSFERRED TO ANOTHER LENDER; >UNPAID BALANCE CHARGED OFF<
Estimated month and year that this item will be removed: 03/2016
No where does it state IIB and they showed the closing date of 5/31/14. Prior to BK it was showing "Pays as agrees", then it disappeared after I filed CH 13 in April 2012. I just did not understand how they could do this, and to top it off, they added a second account (slightly different account number) with the exact same info including balances. I am patiently waiting on a response from all 3 CRA's, but the wait is killing me as I have made all my payments on time since and got my FICO score up to 671. This dropped it back down to 623. I will continue to wait.
If they wont update it to the correct reporting which would be IIB 0 balance then file CFPB complaint. Good luck
@0REDSOX7 wrote:
This is so ironic - as I was just talking to my wife on how our Citi Financial loan account just up and vanished from all of our reports once we filed.
If they pull this shizz with me, I'll be irate.
Keep me posted as to what happens here - I'm curious...
I will definitely do that. Yeah - I am pretty irate. Plus they held the title to my car and it took me over 6 months of calling them to get it from them right after discharge. I finally had to file a complaint with the BBB to get any results. I can't wait to have this behind me.
@0REDSOX7 wrote:
Have you tried calling them? One thing I always hated was that there was never a national customer service number (only one I could find was for website support) - everything else said I needed to call my local branch...
It's not like they are the ones doing the reporting in the local office...
I did. Local branch in Denver, and I live in Montana now. They were the ones that lost my title. They were a complete pain!
- Update
I received notice today that Experian had a resolution to my dispute. When I checked, all it said was it was updated. The only difference I could see is that they had updated the date to a Charge off in July 2014. Needless to say, I was upset again. So I called EX and asked them what they did. He asked for more info and I explained what happened. He looked at my records and stated that he saw the loan in ny BK13. He said he would update to show IIB and balance owed as $0, and there would show no reporting since I filed BK13 in March 2009. Not exactly the outcome I was looking for, but better than nothing.
I will update on TU and EQ when I get those results.