Lates and BK...confused?? Plead advise

[Scupra]

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@guiness56 wrote:

I looked in the Credit Reporting Guide as to how an account that was delinquent prior to a BK had to report.

They say the most critical piece of information is the Consumer Information Indicator (CII).  That is a code that indicates a special condition of the account.

So, for an account that was delinquent prior to the BK, it will be reported with code A, which means it was included in a Chapter 7 BK.  And the date will be the filing date.

As for the balance, it can show a balance because it is IIB.  One or the other has to happen, IIB or a 0 balance.  If it shows a balance, the fact it is IIB renders it uncollectable.

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@guiness56 - I am so glad you pushed me to figure this out and second guess the info I had received. Well, after a complaint to the BBB and the CFPB Wells Fargo, B of A, and Kay Jewelers who have all REFUSED to update to IIBK many times updated.....Now they show IIBK and I gained 20 points on my ScoreWatch alert this morning. Happy start to my monday for sure.

[guiness56]

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@Scupra wrote:

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@guiness56 wrote:

I looked in the Credit Reporting Guide as to how an account that was delinquent prior to a BK had to report.

They say the most critical piece of information is the Consumer Information Indicator (CII).  That is a code that indicates a special condition of the account.

So, for an account that was delinquent prior to the BK, it will be reported with code A, which means it was included in a Chapter 7 BK.  And the date will be the filing date.

As for the balance, it can show a balance because it is IIB.  One or the other has to happen, IIB or a 0 balance.  If it shows a balance, the fact it is IIB renders it uncollectable.

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@guiness56 - I am so glad you pushed me to figure this out and second guess the info I had received. Well, after a complaint to the BBB and the CFPB Wells Fargo, B of A, and Kay Jewelers who have all REFUSED to update to IIBK many times updated.....Now they show IIBK and I gained 20 points on my ScoreWatch alert this morning. Happy start to my monday for sure.

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Glad to hear this! 

[Scupra]

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@guiness56 wrote:

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@Scupra wrote:

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@guiness56 wrote:

I looked in the Credit Reporting Guide as to how an account that was delinquent prior to a BK had to report.

They say the most critical piece of information is the Consumer Information Indicator (CII).  That is a code that indicates a special condition of the account.

So, for an account that was delinquent prior to the BK, it will be reported with code A, which means it was included in a Chapter 7 BK.  And the date will be the filing date.

As for the balance, it can show a balance because it is IIB.  One or the other has to happen, IIB or a 0 balance.  If it shows a balance, the fact it is IIB renders it uncollectable.

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@guiness56 - I am so glad you pushed me to figure this out and second guess the info I had received. Well, after a complaint to the BBB and the CFPB Wells Fargo, B of A, and Kay Jewelers who have all REFUSED to update to IIBK many times updated.....Now they show IIBK and I gained 20 points on my ScoreWatch alert this morning. Happy start to my monday for sure.

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Glad to hear this! 

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Now I need to tackle the same 4 on Transunion :/  Really don't think it should take a complaint to CFPB to make things report correctly, but I am willing if that's what it takes.  

[Scupra]

Just to keep the issue updated, TU did not respond the same way. They sent a generic response to my CFPB complaint saying they didn't understand what I was disputing... smh, I responded with a dispute that I think a 2 year old could understand. I will let you guys know what happens!

[pizza1]

Ugh Scupra... Please do keep us updated!!! I've sent off another round to EQ... TU is about to get nasty ill keep you advised on that blood bath lol!!!