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How should accounts report post bk7?

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How should accounts report post bk7?

Filed and discharged bk 7 in 2014. Looking to purchase new home in next year or so. I have accounts reporting as ‘derogatory’ even though they were never late and in some cases weren’t even IIB. Is that ok? Would it make a big difference if they reported as discharged instead (for the ones that were IIB)? Would I be reaging or something by disputing?
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Senior Contributor

Re: How should accounts report post bk7?

The only accounts that should have reported IIB would be the ones that were listed in the original paperwork when your lawyer filed to the courts. Closed accounts before BK aren't notified and wouldnt know you filed. Least in my case they weren't notified. No reason to list them. I'd ask the lawyer or check on PACER who was listed. Or you can look at the your copy of what the lawyer sent to the court. If they aren't on the list of creditors notified. Then they dont have a right to place that on your CR. Funny thing is who told them?





My posts are JMHO. I DO NOT claim to be a FICO expert. Just sharing my experiences from rebuild to recovery after BK DC. My siggy is not to brag at all. Just to show fellow members what can be accomplished when you do it right and play the FICO Credit Game.
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New Member

Re: How should accounts report post bk7?

Well one account is a car loan that i reaffirmed. It shows perfect payment history through payoff but shows derogatory, it never was. I guess I should dispute that.

For accounts that were included, can it still be reported as derogatory? Or should it say IIB? Is there a difference in how it affects my score?
Message 3 of 4
Senior Contributor

Re: How should accounts report post bk7?


@Wecandoit7 wrote:
Well one account is a car loan that i reaffirmed. It shows perfect payment history through payoff but shows derogatory, it never was. I guess I should dispute that.

For accounts that were included, can it still be reported as derogatory? Or should it say IIB? Is there a difference in how it affects my score?

I reaffirmed my truck. It shows reaffirmation of debt. I had perfect payments also. What derog is it showing on your report and where is that coming from? They should say IIB, $0 balance. It wasnt paid in full. So basically it is a derog. Debts were wiped out but any lates stay the same. Which is basically a derog also.





My posts are JMHO. I DO NOT claim to be a FICO expert. Just sharing my experiences from rebuild to recovery after BK DC. My siggy is not to brag at all. Just to show fellow members what can be accomplished when you do it right and play the FICO Credit Game.
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