I am trying to clean up my credit reports after filing BK in 2002 (d/c 2003). I noticed that when I recieved the response to my recent disputes, my credit report from EQ (TU seemed ok, and haven't yet recv'd EX) is ridiculously difficult to manage.
Virtually all of my accts that I included in my BK are still showing "charged off", "acct transf/sold--charged off"....Some though, actually say "Acct included in BK"
Are they at some point supposed to ALL say "included in Chapter 7 BK" ? Do I open another dispute with the CRA as well?
I think this is really screwing my credit worse thatn the BK itself...
Here is what I did....I disputed them all again and again, until they were either updated as showing IIB or deleted!! Some companies didn't even respond to the dispute to update the info and therefore it was deleted!! Oh, well, my gain!
My scores jumped from low 500's to high 500's within 2 months of the disputes being done. I have been careful w/ credit since the BK (in 2003) and now I have high 600's! (soon to break the 700, I hope, when util is reported from going from 30% util to under 3% with my last round of payments in Dec.)
There is hope....it takes time, though! After you dispute and your changes are made, get a few cc's (they may have to be secured)
Use them and pay them off monthly...maybe showing a tiny balance here and there.
Here again, this is what I did!! YMMV
Over the summer I used my cc's above 90% util and scores dropped to low 600's...In Oct. I started knocking down the util and they are back where they were before(high 600's)...and I expect them to go higher than where they were when my ccc's update for Jan.
IIB = Included in bankruptcy. This is how all of your creditors that were included in your filing should appear if they were all discharged. It is a gruling and nerve racking process, but stay the course. I disputed everything except the BK and I saw a jump in scores across the board on all 3 cr's.
"No one can make you feel inferior, unless you give them permission".