topic Re: Strange TransUnion Removal Date in General Credit Topics

Strange TransUnion Removal Date

Have1 — Sat, 09 Apr 2022 21:06:26 GMT

Hello everyone!

I have a question about my TransUnion credit report. I have one negative account remaining on my reports from my bankruptcy in 2016. TU shows the following on my report:

Date Opened             Responsibility
11/09/1988              Individual Account                   
 
Account Type            Loan Type
Revolving Account       CREDIT CARD                               
                  
Date Updated            High Balance 
11/03/2016              $0

Credit Limit            Pay Status
$4,800                  Current; Paid or Paying as Agreed
 
Date Closed             Estimated month and year this item will be removed
05/18/2016              12/2013

Remarks
CHAPTER 7 BANKRUPTCY; CLOSED BY CREDIT GRANTOR

Is anyone else seeing odd removal dates on their TU reports?

Re: Strange TransUnion Removal Date

FireMedic1 — Sun, 10 Apr 2022 10:22:21 GMT

Call TU and point it out theres a glitch on their end. Should be 12/2023.

Re: Strange TransUnion Removal Date

Have1 — Sun, 10 Apr 2022 14:37:04 GMT

@FireMedic1 wrote:
Call TU and point it out theres a glitch on their end. Should be 12/2023.

I'm not sure I want to poke that bear, to be honest. 12/23 would be the full 7.5 years.

I've got a year until it becomes more than a curiosity and they may fix it on their own. With my luck, if I bring it to their attention, they'll run it as a dispute and Amex will verify making it look fresh to the algorithm.

Re: Strange TransUnion Removal Date

FireMedic1 — Mon, 11 Apr 2022 10:09:10 GMT

👍

Re: Strange TransUnion Removal Date

SoCalGardener — Mon, 11 Apr 2022 20:19:37 GMT

@Have1 wrote:
@FireMedic1 wrote:
Call TU and point it out theres a glitch on their end. Should be 12/2023.
I'm not sure I want to poke that bear, to be honest. 12/23 would be the full 7.5 years.

I'd leave well enough alone. But just be aware that whether or not there's a glitch right now and TU is displaying the wrong date, doesn't change the actual date of your BK. That date is what it is, as is its removal date. Those are legally entitled to be on your reports for the full 10 years, temporary glitch or not!

Re: Strange TransUnion Removal Date

Have1 — Mon, 11 Apr 2022 20:31:12 GMT

@SoCalGardener wrote:
@Have1 wrote:
@FireMedic1 wrote:
Call TU and point it out theres a glitch on their end. Should be 12/2023.
I'm not sure I want to poke that bear, to be honest. 12/23 would be the full 7.5 years.

I'd leave well enough alone. But just be aware that whether or not there's a glitch right now and TU is displaying the wrong date, doesn't change the actual date of your BK. That date is what it is, as is its removal date. Those are legally entitled to be on your reports for the full 10 years, temporary glitch or not!

The BK itself is showing correctly on every bureau. It's only the Amex on TU that is showing the weird date of removal.

The Amex should be gone in a year, and while it will knock my AAoA down, I should reap something score wise from it's removal.

If only it wasn't a 34 year old TL... Oh, well. At least I still have a clean, open TL that is from 2004 to cushion the shock.

Re: Strange TransUnion Removal Date

donkort — Mon, 11 Apr 2022 21:25:52 GMT

Is it an account that's always been "paid as agreed?"

Re: Strange TransUnion Removal Date

Have1 — Mon, 11 Apr 2022 21:34:19 GMT

@donkort wrote:
Is it an account that's always been "paid as agreed?"

Which one? The Amex was current, no lates when it got IIB with a balance which puts it in derogatory status.

The other has always been current and had no balance when I filed BK7. I kept it through the BK by asking nicely for them to not close it when they sent me a notice that they intended to close it because BK. It never hurts to ask.

Re: Strange TransUnion Removal Date

donkort — Mon, 11 Apr 2022 22:32:46 GMT

Correct me if I'm wrong:

Wouldn't it be good for your "average age of accounts" to have a "paid as agreed" card still reporting?

And also: if I were a creditor, I would like to see that "paid for agreed" card on somebody's credit report after a bankruptcy. Especially if there are no other credit items that are derogatory after the bankruptcy.

If something is IIB (Included in Bankruptcy), it shouldn't affect your credit score after the bankruptcy. In fact, it should probably be deleted from your credit report.

Re: Strange TransUnion Removal Date

Have1 — Mon, 11 Apr 2022 22:45:37 GMT

@donkort wrote:
Correct me if I'm wrong:

Wouldn't it be good for your "average age of accounts" to have a "paid as agreed" card still reporting?

And also: if I were a creditor, I would like to see that "paid for agreed" card on somebody's credit report after a bankruptcy. Especially if there are no other credit items that are derogatory after the bankruptcy.

The Amex card helps with average age while also being a derogatory TL. The derogatory status is as bad as, if I understand correctly, having a CO. When it falls off I lose the age and I gain the lack of a derogatory TL. Points wise I expect that should be a gain of some kind. It probably won't be a lot, TBH.

The big drag on my score is the BK, which won't come off until 2026. I am doing well because I don't have anything else negative on my reports and I have the other TL that survived BK with a lot of age to boost my AAoA.

If I had lates before the BK they would be falling off because the seven year marks would be happening and those TLs would be going away.

I didn't have any lates and the other IIB TLs disappeared, mysteriously, a couple years ago. So the Amex card is the sole TL I have timing out. It will be interesting.

Re: Strange TransUnion Removal Date

Have1 — Mon, 11 Apr 2022 23:36:54 GMT

@donkort wrote:
Correct me if I'm wrong:

If something is IIB (Included in Bankruptcy), it shouldn't affect your credit score after the bankruptcy. In fact, it should probably be deleted from your credit report.

I'm sorry, I missed this part of your post.

Accounts IIB remain on your reports until they age off at seven years from the date they became delinquent and never caught up. They have to be coded as paid (to prevent accusation of an attempt to collect to my understanding). They do effect your scores the whole time they remain, both positively (age) and negatively (IIB/late payments) until they age off. They have no available balance so they do not effect utilization.

In my case, all my TLs with balances became negative on the date of my declaration of BK. I was current on all my debts, I just didn't have 200k in cash to pay my personal guarantee on an SBA loan when my business went under. In other cases they likely would have been delinquent prior to BK due to late payments.

I hope that clarifies things.

Re: Strange TransUnion Removal Date

donkort — Mon, 11 Apr 2022 23:56:56 GMT

Thank you.