Disputed Credit Report...

[Anonymous]

Grr...it is so frustrating.   My Chapter 13 was discharged Aug 31 2009.    My unsecured credit cards are now reporting ZERO balance, however on TU  says       PAY STATUS: Wage Earner Plan          CONDITION:  Derogatory         I thought I was supposed to have a fresh start after discharge?     Huh??      I am not familiar with Trans Unions Condition???? for other trade lines it says current or closed or paid.   Is this degrogatory comment affecting my fico?   Pay Status????? Since it is discharged shouldn't it say discharged.   My Trans Union report is getting WORSE instead of better.   I have all these new late pays and delinquent comments under explanations.  Funny thing..... I never paid LATE,  just filed for Chapter 13, but they of course wiped alll the PRIOR on time payments and just plain derogatory.... 0 balance.  I should have Chapter  Seven..d the whole darn lot of them.   Does anyone know if Pay status and Condition affect Fico??  Thanks in advance.

[QueenBean]

Yep this is maddening!  TU is my worst score because one creditor notes the account as IIB even though the BK was dismissed & the account with that creditor was NEVER paid late........it shows up as a derorgatory account each and every month with no lates for the past 10 years - thanks TU

[Anonymous]

Hi:

Interesting, because TransUnion was always my highest credit score and here is what helped me a lot.

Background: I filed a 13 a little over six years ago and here is my experience. Once I had repaid the portion of debt to the creditors as agreed in the repayment plan, I received my discharge paperwork which sounds like you also have your discharge paperwork too.  As soon as I received all my court discharge paperwork, I also called my BK trustee and asked/confirmed that I was done making payments and received confirmation from them that indeed I was done making payments. I requested that they send me a letter of dismissal and include a letter of recommendation to future creditors that I faithfully made all my payments and was never late; furthermore, they agreed. You may have to finesse how you ask for the letter from the trustee. I made photocopies of the court dismissal documentation and the letter of commendation from my trustee and wrote a personal letter to all three credit bureaus asking to immediately update my credit records. Note: Before I sent this request/demmand letter my credit scores were all bumping around 650.

After the letters were written and sent, I received notification from all the credit bureaus that they would update my file. Equifax raised my scored from 652 to 677, Experian raised my score from 651 to 676, but TransUnion for whatever reason raised my credit score to 770! Furthermore, they all made notations that my BK 13 had been discharged. Needless to say, this helped me obtain a new non-secured credit card with a limit of $750- perfect!

Now that I am over 6 years since I filed BK 13, I just received a Citibank Sears card with a $7,500 limit! Seriously, I can't believe it, but it is true. I was hoping for $1,000, but received a credit line of $7,500. This is good and bad: good because my credit card utilization will very good which will help my credit score a lot and bad because if they lower my credit limit because I'll never use that much credit, it will hurt my credit score. Let's hope they just leave my new credit limit alone!

I have not yet figured out a way to get rid of those stupid "wage earner plan" notations either, so if anyone else reads this and has a good suggestion, please help.

Here are my credit scores right now as of 12/25/09: TransUnion 770, Equifax 700, and Experian 703

Good Luck!

Message Edited by Esu123 on 12-25-2009 02:36 PM