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Clarification on IIB Status

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Frequent Contributor

Clarification on IIB Status

Hey all, I would like some clarification about what it's supposed to say on my credit reports once discharge has been reflected.  Will it say "Included in Bankruptcy" or is it acceptable to have a $0 balance and it just says "Chapter 7 bankruptcy"?  Will the account statuses still show "Derogatory"?  I just want to make sure everything is reflecting correctly before I make any moves.  Thanks in advance!



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Community Leader
Senior Contributor

Re: Clarification on IIB Status

It should state IIB and have a 0 balance. If you had lates prior to filing they will remain in your history.
EXP 763 TU 793 EQ 734
Message 2 of 3
Super Contributor

Re: Clarification on IIB Status

@Jnbmomnailed it. Plus once everything has been updated and states IIB and 0 balance. Get your FICO scores at https://www.experian.com/consumer-products/credit-score.html 

You can get the dollar trial for all 3 FICO's and then cancel before trial ends. Then you get EX's FICO score monthly for free. After all is well on your reports. You may see a score bump. Which may mean a unsecured card vs. secured card. Come back here and we'll be glad to kick start your rebuild. Every single card below. I researched here for the best odds at approval. And asked questions Which led to 0 denials. So the gang is willing to help. Good Luck!





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