CRA adjustment- Is it worth it.

[ISO_GUY68]

Good Evening All,

My wife and I filed for Ch. 13 bankruptcy Nov. 2014. Discharged Apr. 2020. One of the debt was a vehicle, 2011 Chevy Traverse, that we kept. Since it was a secured debt we paid the under the plan the market value for the vehicle. The CU that held the note reported it as paid and closed. Should it not show "included in bankruptcy"? Will this make it stay on my credit report longer than the end of the year when other items on my CR listed under bankruptcy are set to fall off? Is it worth disputing?

[pizza1]

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@ISO_GUY68 wrote:

Good Evening All,

My wife and I filed for Ch. 13 bankruptcy Nov. 2014. Discharged Apr. 2020. One of the debt was a vehicle, 2011 Chevy Traverse, that we kept. Since it was a secured debt we paid the under the plan the market value for the vehicle. The CU that held the note reported it as paid and closed. Should it not show "included in bankruptcy"? Will this make it stay on my credit report longer than the end of the year when other items on my CR listed under bankruptcy are set to fall off? Is it worth disputing?

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On your reports, does this account show up as a "potentially negative" account? If not, Id leave alone since its reporting as a postive paid/closed account currently. Positive paid/closed accounts can stay on your reports for up to 10 years from the date it was closed.  The positive account, even closed, is helping. 

[Horseshoez]

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@ISO_GUY68 wrote:

Good Evening All,

My wife and I filed for Ch. 13 bankruptcy Nov. 2014. Discharged Apr. 2020. One of the debt was a vehicle, 2011 Chevy Traverse, that we kept. Since it was a secured debt we paid the under the plan the market value for the vehicle. The CU that held the note reported it as paid and closed. Should it not show "included in bankruptcy"? Will this make it stay on my credit report longer than the end of the year when other items on my CR listed under bankruptcy are set to fall off? Is it worth disputing?

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Consider yourself lucky, the car loan we had when I filed Chapter 13 in February 2015 (discharged March 2020) is showing IIB and will definitely drop off next February.  The thing is, the loan is paid off and never had a single late, and yet it is IIB; I would much rather it simply showed "paid and closed" like your loan, I mean, not only would it not be showing up as an IIB, but I'm thinking it would stick around on my reports for another 3 years helping my AAoA.

[ISO_GUY68]

I guess the real problem lies that it shows 180 day late from July 2016- Feb 2017. We filed in Nov 2014- Discharged May 2020. It was a secured loan so it was paid first. Does the 180 day lates affect my credit?

[pizza1]

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@ISO_GUY68 wrote:

I guess the real problem lies that it shows 180 day late from July 2016- Feb 2017. We filed in Nov 2014- Discharged May 2020. It was a secured loan so it was paid first. Does the 180 day lates affect my credit?

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ok, I dont understand, because there's missing info here and there.   Were you late on the vehicle payments in 2016-2017 during your BK payback? 

[ISO_GUY68]

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@pizza1 wrote:

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@ISO_GUY68 wrote:

I guess the real problem lies that it shows 180 day late from July 2016- Feb 2017. We filed in Nov 2014- Discharged May 2020. It was a secured loan so it was paid first. Does the 180 day lates affect my credit?

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ok, I dont understand, because there's missing info here and there.   Were you late on the vehicle payments in 2016-2017 during your BK payback? 

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It was paid through the plan. So they paid the Value and the courts were done. But since it was the first thing was pains that was done first.