HOW TO: From BK7 discharge to 700 in 24 months or less!

[Scupra]

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@a504dl wrote:

Hi,

 I thank you for the great info you have provided.

Is there a legal statue that I can use in my letter that forces them to change the status from derogatory to current in regard to bk's?

................Ex:

b. Included in Bankruptcy

c. Current (not "default/derogatory" status"

3. For any accounts that do not meet all of the criteria in #2, file a dispute "Included in Bankruptcy" and "Incorrect Balance"

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As long as the account was iibk and was not charged off prior to BK, you can dispute as "included in bankruptcy"

[a504dl]

Half of my old BK account say current/ closed while the other half are listed and included in bk/ closed but under the category as "potentially negative"

i think i want all of the to be the former in which case the goal it to get the " late payments to go away"

any addtional advice?

[aussiesareforever]

The late payments won't go away until 7 years past your DOFD. You just want all those accounts to have a $0 balance and say "Included in BK"

Unfortunately, BK does not erase the records of late payment. They will stay on your report until they fall off. The good news is that they stop having as big of an effect over time.

[aussiesareforever]

I also wanted to say that all my accounts were charged off before BK. They all said "Included in BK" even though they were charged off.

They have all fallen off now, except one of them- it'll finally fall off in 2014, then I'll only have one negative (the big BK) reporting.

Long...long...long road

[Terricloth]

Just beginning my journey. Filed for ch 7 dec19 2012. Discharge should occur at end of month. Gonna follow this thread religiously to get to a 700!

[a504dl]

Make sure about a month after discharge you establish positive credit, no negative stuff and dispute all the this you can... It all helps in the long run.

[chasmith]

IIB by itself is derogatory, and accurate records of lates incurred before you filed are proper reporting. 

Actually the ones showing closed/current instead of IIB are incorrect if you discharged a balance.  I did have several accounts that were closed by the lender when in good standing before I filed.  Yet they picked up my BK and changed them to IIB.  Because I had a copy of my pre-filing CRs I was able to force them to go back to closed with a clean status and cut down the number of IIBs..

[a504dl]

How do you get them or force them to say " Current (not 'default/derogatory') status"?

[aussiesareforever]

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@a504dl wrote:

How do you get them or force them to say " Current (not 'default/derogatory') status"?

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It cannot say "current" if it was included in BK. That account will be derogatory until it falls off your credit report in seven years. The advantage of having it say "IIB" is that it will report as a $0 and should report as closed. It will never be a positive account.

[a504dl]

thanks for  info i will stop tryi g to get them off....

could recommend a good good will letter i might try to use in the the mean?