Hi, my BK was discharged on 6/06. On my credit reports, all of the CC's involved report as closed with a note refercencing the BK. Most of the CC's show a last reporting date sometime around the 6/06 date but some of them keep reporting on a monthly basis so that the last reporting date is current (i.e. 06/09). Are they allowed to do that? Does the continued reporting of closed BK accounts negatively impact my credit score?
Yes, I believe the way they are reporting is definitely hurting your scores and that they are reporting incorrectly. They should all report as IIB with the date of first default, I believe. Not sure if they can update monthly though. The monthly updating is different from the DOFD and I don't know the laws on that as far as BKs go. I do know that CAs are allowed to do this monthly updating. You might get better information concerning this over on the BK area of the forum.