Bk filing and credit reporting

[emily15]

Hi all,

I filed Ch 7 yesterday and this morning was alerted that I had my first 30 day late from one of my accounts.

my question is how soon will the BK show on my reports and should I expect more delinquents or 30 day lates to be reported or will those stop once the BK shows? 

thank you . 

[Lurker22]

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@emily15 wrote:

Hi all,

I filed Ch 7 yesterday and this morning was alerted that I had my first 30 day late from one of my accounts.

my question is how soon will the BK show on my reports and should I expect more delinquents or 30 day lates to be reported or will those stop once the BK shows? 

thank you . 

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in my case my 13 was picked up within a couple of days (less than a week for sure), I wouldn't think a 7 would be any different - once the creditors are notified of your 7 they're prohibited from reporting anything to the CB's - so there could be some overlap like you saw with that first 30 day late you mentioned but I doubt you'll see anymore, what you should expect is all creditors to update your balance to $0 (they will not change any prior reporting - just the balance) 

[Horseshoez]

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@emily15 wrote:

Hi all,

I filed Ch 7 yesterday and this morning was alerted that I had my first 30 day late from one of my accounts.

my question is how soon will the BK show on my reports and should I expect more delinquents or 30 day lates to be reported or will those stop once the BK shows? 

thank you . 

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From a different perspective, one or more lates will effectively be irrelevant as having a bankruptcy on your reports will trump everything else while it sticks around.  Before my Chapter 13 fell off my records and before my wife's Chapter 7 fell off her records, we both had no other derogatory marks, and yet our scores were depressed down into the low- to mid-700s; the instant our bankruptcys fell off, our scores jumped into the 800s.

[FireMedic1]

If the date of the late is after the BK filing date. It isnt allowed. No negatives allowed on reports after filing. Now before the file date. It sticks.

[Jeffster1]

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@emily15 wrote:

Hi all,

I filed Ch 7 yesterday and this morning was alerted that I had my first 30 day late from one of my accounts.

my question is how soon will the BK show on my reports and should I expect more delinquents or 30 day lates to be reported or will those stop once the BK shows? 

thank you . 

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That happened to me when I filed. It was one of my credit unions. Even though I could have handled it later, I handled it right away. I called the credit union and spoke directly with someone in their bankruptcy department. One less thing for me worry about and deal with down the road. 

[emily15]

I'm only going off of capital one's "credit wise " but it looks like two lates were reported on Experian after the BK was already showing on reports. 

filing date was 12/13

12/14 - first late reported 

12/15 - bk reporting 

12/17 - two more lates reported 

I know that the bk trumps all negatives and will be there longer but I don't necessarily just want to let these go if they weren't supposed to be reported after bk. 

any advice on what to do? 

[madmann26]

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@emily15 wrote:

I'm only going off of capital one's "credit wise " but it looks like two lates were reported on Experian after the BK was already showing on reports. 

filing date was 12/13

12/14 - first late reported 

12/15 - bk reporting 

12/17 - two more lates reported 

I know that the bk trumps all negatives and will be there longer but I don't necessarily just want to let these go if they weren't supposed to be reported after bk. 

any advice on what to do? 

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Get a copy of your credit report from the myfico.com site or annualcreditreport.com and look for the date that it was updated. Sometimes there is an uncomfortable delay with notifications.

I've seen my notifications lag 10-15 days behind the actual update date.

[isaemm76]

Do you know if a creditor is allowed to add their account to my credit report after I file.

Example, I have 5 negative accounts showing on my account currently.  But there are a few others that are currently deliquent that for some reason are not showing.  Can those creditors update my report to include my account info with them when they get the notification of me filing for BK7?

I'll be filing next month.

Thanks for any info you may have.

[Horseshoez]

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@isaemm76 wrote:

Do you know if a creditor is allowed to add their account to my credit report after I file.

Example, I have 5 negative accounts showing on my account currently.  But there are a few others that are currently deliquent that for some reason are not showing.  Can those creditors update my report to include my account info with them when they get the notification of me filing for BK7?

I'll be filing next month.

Thanks for any info you may have.

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As I understand it, as long as the account indicates IIB, they yes, if it is a valid debt, they can report the delinquency.

[isaemm76]

Cool, Thanks for the info.