topic Re: Included in BK or Charge Off.. .does description matter in General Credit Topics

Included in BK or Charge Off.. .does description matter

Anonymous — Mon, 28 May 2012 14:33:41 GMT

I was reviewing my credit report online this morning, and noticed I had 3 old accts that were included in my BK, yet in the acct status area, read charge off. None of them show any past due balances or money owed. I wanted to know if it would be worth putting a dispute in based off that description to get updated?

Re: Included in BK or Charge Off.. .does description matter

RobertEG — Mon, 28 May 2012 20:35:18 GMT

If they did a charge-off prior to discharge of the debt, that fact remains, and would not be disputable based on the later discharge of the debt.

It simply means that, as of that date, they shifted the bad debt in their accounting ledger from a receivable asset to an uncollectible bad debt. That act did not relieve any consumer obligation for the full debt.

Discharge of BK relates to the debt, and does not mandate deletion of accurate credit reporting on the account prior to discharge of the debt.

Re: Included in BK or Charge Off.. .does description matter

Anonymous — Tue, 29 May 2012 09:25:52 GMT

Thanks for the info Robert. If I dispute for them to have it updated as IIB, they are under no obligation to do so I assume? Why would some creditors do just that, while others dont?

Re: Included in BK or Charge Off.. .does description matter

AndySoCal — Tue, 29 May 2012 15:09:44 GMT

The charge off is the bookkeeping entry on the amount that was discharged in BK. By that I mean, when the BK dischrged they wrote off the balance of the account. From the consumer point of view the story of the account ends at the discharge og the BK. . What happens post BK to the account should not be reported. (my opinion). Does the accounts show a comment included in BK? Aslo when you say they are old accounts how close are they to coming off your credit report? If if it close to that time I would not dispute it.

Re: Included in BK or Charge Off.. .does description matter

Anonymous — Wed, 30 May 2012 00:00:59 GMT

Andy, it does not have any comments about being IIB. As for age of accts, If I base it on date of last activity, it was in 5/2009.. I also noticed another acct, a credit card, that was included in my 7 but shows the status of being under my prior ch 13 before I coverted to a 7. date of last activity on that one is 11/2010

Re: Included in BK or Charge Off.. .does description matter

AndySoCal — Wed, 30 May 2012 01:48:59 GMT

You can dispute this if you want besure to include the list of accounts from the BK & paperwork that were included in the BK.

Re: Included in BK or Charge Off.. .does description matter

Anonymous — Wed, 30 May 2012 10:13:10 GMT

Thanks