Credit Reporting w Experian

[brendini]

I filed a CFPB complain 5/17 about Chase and Mercury reporting IIB even though they had $0.00 balance pre-BK.  I did leave my cards open and ended up closing some of them on my own when they did not close automatically, since it would just state closed by consumer. 

The Chase card was PIF 11/6/2022 and the Mercury card was PIF 4/2022.  Disputes did not correct the report to PIF/Closed, and within a week of filing the CFPB complaint, they are both reported as positive accounts. 

These two accounts reported derogatory since 11/18/2022, and I wish I had filed the CFPB complaint last year.   As of 5/28/2024, they're both in good standing on my report.

When I called these companies last year, the representatives were not helpful.  Mercury wouldn't state anything except that the account was paid as of 4/2022.  Chase kept repeating that the account was open and that I filed bankruptcy.  I said, "yes, but this card is reporting IIB, so what amount was charged off?", and then they would just repeat that the credit line was open when I filed.  They claimed this was correct, but when I spoke to Credit Bureau representatives on the phone, they would tell me 'if these accounts were not IIB, then they should not even mention the BK' on their credit reporting. 

I can finally move on.

Transunion and Equifax updated the information in 24 hours.

Experian did not update the information.  I submitted a CFPB complaint for Experian.  Experian's response was to open new disputes for these two accounts.  Chase responded to the dispute and updated the account to Paid.  Mercury has not responded and the response isn't due until 7/12/24. 

It's so messed up that 4 disputes about Mercury and 4 disputes about Chase since 2023 did nothing to correct them, Experian is terrible.  I never thought poorly of Experian until after this CFPB result updated the two accounts and Experian is dragging it out.

[brendini]

The dispute opened by Experian in response to the CFPB complaint resolved yesterday.  The Mercury card now reports as Paid in Full and will fall off in July 2034.  It would have fallen off in November 2032.  If it ends up falling off in November 2032 with future status reports, that is within the 10 years mark.  At least it is not falling off in November 2029 as a negative account!