topic Re: Bankruptcy Question in General Credit Topics

Bankruptcy Question

Anonymous — Mon, 30 Jul 2007 12:51:08 GMT

If you have a Bankruptcy on your credit report and It becomes 7yrs old do you get any increase in score at all or do you have to wait for it to fall off at the 10yr mark before you get any kind of increase

Thanks.

Re: Bankruptcy Question

Tuscani — Mon, 30 Jul 2007 13:26:19 GMT

Your scores will improve with age. You will reap the most benefits once it is gone entirely.

Re: Bankruptcy Question

Anonymous — Mon, 30 Jul 2007 13:34:26 GMT

Thanks you for your help. I was not sure because I just had a judgement removed from 2 of my reports and did not seem to get much for that and I have only 1 collection listed and that is supose to be removed soon. It does show high CC utilization though which I cant seem to get removed. I have not been late on anything since 2004 but it is showing late pays on a charged off account still. I am just trying to get that 30 extra points that me and my wife need.

Re: Bankruptcy Question

Tuscani — Mon, 30 Jul 2007 13:42:42 GMT

The account should show $0 balance. I assume you have disputed that?

Re: Bankruptcy Question

Anonymous — Mon, 30 Jul 2007 14:40:15 GMT

I have disputed that 4 times for him and sent a DV letter but forgot to send that Certified working on that now. Providian is still reporting the balance and that is why his Utilization is so high. His open credit card balance is only 5.00 on a 400.00 limit but they say he is using 74% of his credit and the only way I can see that is the 1124.00 that Providian has as charged off is in there.

Re: Bankruptcy Question

Tuscani — Mon, 30 Jul 2007 17:06:46 GMT

Send a letter to the OC. Tell them they are in violation of the FCRA for reporting incorrect info and in addition, may be in violation of federal BK laws. Demand they remove the listing in full within 15 days, as it is apparent they can't report accurately. Tell them if they do as requested, you will drop the matter. But, should they decide to continue, you will pursue the matter in any way necessary to preserve your legal rights.

You
Address
City,State Zip Code
Phone Number

C/O Bank President Name
Address
City, State Zip Code

Tuesday January 27, 2004

This letter is to inform you that you are reporting incorrect information in my Equifax

credit report. The account in dispute was discharged in Chapter 7 Bankruptcy in 2002. My

Equifax credit report shows that you have this account listed as "Charge Off/Bad Debt".

This is totally inaccurate information. The Fair Credit Reporting act allows only for

completely accurate information to be reported. You are in complete violation of that act

by reporting this account as "Charged Off". You are also reporting a balance of $16,320 and

$7,539 as past due. By Chapter 7 US Bankruptcy law, this account was granted a full

discharge of all debts and obligations. This means that the balance and past due amounts

should be $0.00. This is another violation of the FCRA (Fair Credit Reporting Act) and US

Bankruptcy laws. I disputed this account with Equifax on January 2, 2004. They notified me

by mail that this item was verified as accurate by you this month, January 2004. This is

another violation of the FCRA. The FCRA allows for statutory damages of $1000 PER violation

cited. Since this requires no investigation by you, I demand the complete deletion of this

information from my Equifax credit report within 15 days of the receipt of this notice. I

look forward to resolving this matter amicably without pursuing legal means.

You