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Disputed Items Falling Off

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Disputed Items Falling Off

I am currently in a Chapter 7 BK. It is scheduled to be DC next month.  There was 3 items on my credit report that I disputed due to it not reflecting that it was included in BK and was showing a balance.  All the other accounts reflected this already.  I disputed it to reflect that it is included in BK filing and to remove the balances.  Instead of updating the report, they removed them from my report. I am not complaining but just shocked.  I saw a 5 point score increase as well.

Chapter 7 BK Discharge 09-16-19
589 - 11-12-19 Experian FICO Score 8
632 - 11-04-19 Experian VantageScore 3.0
643 - 11-12-19 Transunion VantageScore 3.0
616 - 11-12-19 Equifax VantageScore 3.0
580 - 10-25-19 Equifax FICO Score 5
Loans: 1 Student Loan Deferred, 2 Auto Loans, 1 Secured Loan
Credit Cards: 2 Visa Cards, 1 Mastercard; 1 Store Card $500/$1,400
Inquires: 17 Equifax, 32 Experian, 15 Transunion
Average Account Ages: 1Y10M Equifax, 3Y11M Experian, 2Y9M Transunion
Gardening till 03-2020
Message 1 of 11
10 REPLIES 10
Community Leader
Senior Contributor

Re: Disputed Items Falling Off


@CostantinoA wrote:

I am currently in a Chapter 7 BK. It is scheduled to be DC next month.  There was 3 items on my credit report that I disputed due to it not reflecting that it was included in BK and was showing a balance.  All the other accounts reflected this already.  I disputed it to reflect that it is included in BK filing and to remove the balances.  Instead of updating the report, they removed them from my report. I am not complaining but just shocked.  I saw a 5 point score increase as well.


You really shouldn't be disputing anything until your BK is discharged and closed, then wait until your creditors have time to update.

 

Your BK is not discharged yet so they are not required to update until then. It is not reporting incorrectly as your debts haven't been discharged yet.

EXP 763 TU 793 EQ 734
Message 2 of 11
Super Contributor

Re: Disputed Items Falling Off

+1 Dont be surprised when they show up again. If anything that isnt correct at least 30 days after DC then dispute. Plus you might see a score boost then. Chill for a while. And wait until after DC to apply for credit. Its a litle scarey your rushing it. Let things play out in their own time. Dont force it. Good Luck!





My posts are JMHO. My siggy is not to brag at all. Just sharing my experiences after learning here from rebuild to recovery after BK DC @ 540's. And to show fellow members what can be accomplished when you do it right and play the FICO Credit Game.
Message 3 of 11
Established Contributor

Re: Disputed Items Falling Off

I spoke with my attorney about it.  He said they have to report that a BK is filed.  It can not keep reporting that the accounts are late and they balances need to be reported as zero.  I had 54 accounts included and 51 reported this way.  I disputed the others at his direction and they were removed.  They were reporting inaccurate information so I don't see why I shouldn't dispute to reflect what the others were doing.

 

On side note, I had a friend that deleted all 8 credit cards that were included on her BK during her filing and all 8 were removed. After the DC, only 2 showed up again.  This was over a year ago it was DC for her.

Chapter 7 BK Discharge 09-16-19
589 - 11-12-19 Experian FICO Score 8
632 - 11-04-19 Experian VantageScore 3.0
643 - 11-12-19 Transunion VantageScore 3.0
616 - 11-12-19 Equifax VantageScore 3.0
580 - 10-25-19 Equifax FICO Score 5
Loans: 1 Student Loan Deferred, 2 Auto Loans, 1 Secured Loan
Credit Cards: 2 Visa Cards, 1 Mastercard; 1 Store Card $500/$1,400
Inquires: 17 Equifax, 32 Experian, 15 Transunion
Average Account Ages: 1Y10M Equifax, 3Y11M Experian, 2Y9M Transunion
Gardening till 03-2020
Message 4 of 11
Established Contributor

Re: Disputed Items Falling Off


@FireMedic1 wrote:

+1 Dont be surprised when they show up again. If anything that isnt correct at least 30 days after DC then dispute. Plus you might see a score boost then. Chill for a while. And wait until after DC to apply for credit. Its a litle scarey your rushing it. Let things play out in their own time. Dont force it. Good Luck!



I do not like to wait for things to play out.  I have a friend that did BK 7 and had over 80 accounts included.  Before the BK, started applying and did other things we can't talk about on this board and now has over 30 accounts, about 65k in limits and scores of low 700 in a year.

 

I have noticed on here, some people are saying I won't get approved with open BK and well, I am 4 for 4 applying with open BK so IDK what is going on, but seems to be working for me.  If I can get a jump start on credit rebuilding and I am getting approvals, then why not?

Chapter 7 BK Discharge 09-16-19
589 - 11-12-19 Experian FICO Score 8
632 - 11-04-19 Experian VantageScore 3.0
643 - 11-12-19 Transunion VantageScore 3.0
616 - 11-12-19 Equifax VantageScore 3.0
580 - 10-25-19 Equifax FICO Score 5
Loans: 1 Student Loan Deferred, 2 Auto Loans, 1 Secured Loan
Credit Cards: 2 Visa Cards, 1 Mastercard; 1 Store Card $500/$1,400
Inquires: 17 Equifax, 32 Experian, 15 Transunion
Average Account Ages: 1Y10M Equifax, 3Y11M Experian, 2Y9M Transunion
Gardening till 03-2020
Message 5 of 11
Super Contributor

Re: Disputed Items Falling Off

As I posted. Once everything updates mostly everyone gets a score boost. Why? Because your legally out of debt. Many of us have seen it before countless times. I had a feeling as I said I felt you were going to get credit before DC. I hit "post". And you already have. So for a better term. I was correct. You just BK'ed 54 accounts with 21 inq's on 1 CRA. Dude, that's scarey stuff. Dont put yourself back to where you just got out of. Either way congrats on your BK. Good Luck on your rebuild.





My posts are JMHO. My siggy is not to brag at all. Just sharing my experiences after learning here from rebuild to recovery after BK DC @ 540's. And to show fellow members what can be accomplished when you do it right and play the FICO Credit Game.
Message 6 of 11
Established Contributor

Re: Disputed Items Falling Off

I totally understand.  I made way more money back then.  I was making about 350k per year and now making around 160k per year.  There was a period between I was making 0 for about 6 months so that hurt.  We could not keep up with the lifestyle anymore and the CC payments were too much.  I want to rebuild quickly to live the lifestyle that supports 160k per year.  If I was still making 350k per year, we wouldn't have needed to BK.  I was able to keep making payments for about a 1.5 years after I stopped making the money and then I couldn't do it anymore.

 

We have cut back our lifestyle big time now.  Car payments cut in half and other things.  I just want to get back on track quickly.  When I was making the larger money, I had no problem paying the bills. I budgeted.  I am doing that now but on a smaller scale.

Chapter 7 BK Discharge 09-16-19
589 - 11-12-19 Experian FICO Score 8
632 - 11-04-19 Experian VantageScore 3.0
643 - 11-12-19 Transunion VantageScore 3.0
616 - 11-12-19 Equifax VantageScore 3.0
580 - 10-25-19 Equifax FICO Score 5
Loans: 1 Student Loan Deferred, 2 Auto Loans, 1 Secured Loan
Credit Cards: 2 Visa Cards, 1 Mastercard; 1 Store Card $500/$1,400
Inquires: 17 Equifax, 32 Experian, 15 Transunion
Average Account Ages: 1Y10M Equifax, 3Y11M Experian, 2Y9M Transunion
Gardening till 03-2020
Message 7 of 11
Super Contributor

Re: Disputed Items Falling Off

Thats fine and dandy. Now that you have a BK on your file. You'll max at 740's, maybe a 750 until the BK falls off. I'm stuck and I didnt burn 1 credit card. As we say here its a marathon not a sprint. I was 540-550's after DC. Took 4 yrs to get what I have below. Good Luck on your rebuild.





My posts are JMHO. My siggy is not to brag at all. Just sharing my experiences after learning here from rebuild to recovery after BK DC @ 540's. And to show fellow members what can be accomplished when you do it right and play the FICO Credit Game.
Message 8 of 11
Established Contributor

Re: Disputed Items Falling Off

I understand totally.  I believe my scores will be higher at DC.  We will see. DC is scheduled for next month.

Chapter 7 BK Discharge 09-16-19
589 - 11-12-19 Experian FICO Score 8
632 - 11-04-19 Experian VantageScore 3.0
643 - 11-12-19 Transunion VantageScore 3.0
616 - 11-12-19 Equifax VantageScore 3.0
580 - 10-25-19 Equifax FICO Score 5
Loans: 1 Student Loan Deferred, 2 Auto Loans, 1 Secured Loan
Credit Cards: 2 Visa Cards, 1 Mastercard; 1 Store Card $500/$1,400
Inquires: 17 Equifax, 32 Experian, 15 Transunion
Average Account Ages: 1Y10M Equifax, 3Y11M Experian, 2Y9M Transunion
Gardening till 03-2020
Message 9 of 11
Established Contributor

Re: Disputed Items Falling Off


@CostantinoA wrote:

I totally understand.  I made way more money back then.  I was making about 350k per year and now making around 160k per year.  There was a period between I was making 0 for about 6 months so that hurt.  We could not keep up with the lifestyle anymore and the CC payments were too much.  I want to rebuild quickly to live the lifestyle that supports 160k per year.  If I was still making 350k per year, we wouldn't have needed to BK.  I was able to keep making payments for about a 1.5 years after I stopped making the money and then I couldn't do it anymore.

 

We have cut back our lifestyle big time now.  Car payments cut in half and other things.  I just want to get back on track quickly.  When I was making the larger money, I had no problem paying the bills. I budgeted.  I am doing that now but on a smaller scale.


IM curious

 

How were you able to file chapter 7 making 160k per year? Do you have alot of kids? 

Equifax - 628, Experian -627, Transunion- 654 In the garden until 01/01/2019
Message 10 of 11
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