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CH 13 Discharged but financial institutions are posting to credit repoorts still.

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New Visitor

CH 13 Discharged but financial institutions are posting to credit repoorts still.

Hello and thank you for having this community forum. My chapter 13 was succesfully discharged at the beginning of May this year (2020). I was able to bring my FICO score from the low 620's to high 660's in a couple of weeks. Then I started to get alerts to my credit reports from my mortgage lender and credit card creditor stating that the accounts were included in the Chapter 13 which dropped my FICO score over 40 points. I don't understand why lenders are placing these alerts dispite my bankruptcy obligations being fullfilled and discharged and never having a late or missed payment with said lenders. It feels targeted and is an insult to injury leaving me feel discouraged. Can anyone explain to me or point me to a resource which could help explain what is happening and why?

 

Thank you. 

3 REPLIES 3
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Frequent Contributor

Re: CH 13 Discharged but financial institutions are posting to credit repoorts still.

These statuses sound correct to me -- what were the statues after filing, but before discharge?

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Super Contributor

Re: CH 13 Discharged but financial institutions are posting to credit repoorts still.

Depending on the length of your plan, the Chapter 13 notation will drop from your credit reports two to four years after receiving your discharge. Its 7 yrs from file date. Whereas a Chapter 7 is 10 years.

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Re: CH 13 Discharged but financial institutions are posting to credit repoorts still.


@FEDLEODOC wrote:

Hello and thank you for having this community forum. My chapter 13 was succesfully discharged at the beginning of May this year (2020). I was able to bring my FICO score from the low 620's to high 660's in a couple of weeks. Then I started to get alerts to my credit reports from my mortgage lender and credit card creditor stating that the accounts were included in the Chapter 13 which dropped my FICO score over 40 points. I don't understand why lenders are placing these alerts dispite my bankruptcy obligations being fullfilled and discharged and never having a late or missed payment with said lenders. It feels targeted and is an insult to injury leaving me feel discouraged. Can anyone explain to me or point me to a resource which could help explain what is happening and why?

 

Thank you. 



Congratulations on your discharge!! Sounds like you aren't a month out from discharge yet, so the info is not all up to date since lenders usually report every month. I've found that the CRAs tend to update my file about 2-3 weeks after the statement closes (the date the lenders report to the CRAs - which may be different for each lender). I'd give it until mid-June at least for the dust to settle, and if your file isn't updated by then, you could consider disputing the inaccurate info. 

 

Long story short--give it a bit more time! You've waited this long, you can wait another 1-2 months! I know I was impatient for my info to get updated as well.



BK13 filed 2014, discharged Nov 2019
FICO 8 Dec 2019: EX 584, EQ 580, TU 529
FICO 8 Jan 2020: EX 681, EQ 708, TU 670 (updated, reporting correctly)
FICO 8 May 2020: EX 701, EQ 714, TU 688
Rebuilding...
Petal 11/2019 SL: 3,500
Cap1 QS 01/2020 SL: 7,000
AMEX BCE 5/2020 SL: 12,000
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