Negative Accounts Included in BK

[ficorenavator]

How long do accounts that had late payments or chargeoffs remain on your CR that were included in BK? Can the late payments or chargeoffs be removed if the account was included in BK or can the entire account be removed. Say for instance if i included an account in BK and the date of 1st deliquency is showing April 2009, when would this account fall off my CR?

[krielly]

Any account included in your Bankruptcy can continue to report for 7 years from the Date of First Delinquency. They should fall off at that time. Some may mysteriously drop off early......(bonus).

Although they were discharged through your BK, they are still reportable as "IIB" "0" balance for 7 years as mentioned above. Anything included should show both a 0 balance, and IIB, and not say "chargeoff".

Any late payments which occurred prior to your filing are reportable. Late payments which occured AFTER the date of your filing should NOT be reported.

[ficorenavator]

Thanks for the info! Much appreciated! How long does the actual bk judgement stay on my credit reports? I filed chapter 7 a few years ago.

[mynameainttracy]

10 years

[smitty1]

My BK7 was discharged in Feb. 2014.  6 of those accounts included say "charged off" instead of IIB.  I have disputed them with the CRA's 4 times, they always come back as verifyed, being shown correctly.  All of those 6 accounts were sold after being charged off, I know who they were sold to, mostly Portfolio Recovery, those collections were also included in the BK, and are not showing on my reports.  I have called those original accounts, and they say since they were charged off when they owned them, they are reporting correctly.  But, since those accounts were IIB, they should be updated to show that, correct?  They were all CC accounts, 3 Capital One's, a Credit One, and 2 HSBC.  All won't let me back in because of the "charged off" status being shown on the CRA's.

Anyone know how to get them to report "account IIB"?

[Scupra]

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@smitty1 wrote:

My BK7 was discharged in Feb. 2014.  6 of those accounts included say "charged off" instead of IIB.  I have disputed them with the CRA's 4 times, they always come back as verifyed, being shown correctly.  All of those 6 accounts were sold after being charged off, I know who they were sold to, mostly Portfolio Recovery, those collections were also included in the BK, and are not showing on my reports.  I have called those original accounts, and they say since they were charged off when they owned them, they are reporting correctly.  But, since those accounts were IIB, they should be updated to show that, correct?  They were all CC accounts, 3 Capital One's, a Credit One, and 2 HSBC.  All won't let me back in because of the "charged off" status being shown on the CRA's.

Anyone know how to get them to report "account IIB"?

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No, because they were charged off prior to filing BK they are reporting correctly.

[smitty1]

Thanks for the reply.  So to have them removed would require waiting 7 years from DOFD? Or maybe GW?  These are from 8/2010.

[Scupra]

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@smitty1 wrote:

Thanks for the reply.  So to have them removed would require waiting 7 years from DOFD? Or maybe GW?  These are from 8/2010.

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Exactly

[jim44]

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@krielly wrote:

Any account included in your Bankruptcy can continue to report for 7 years from the Date of First Delinquency. They should fall off at that time. Some may mysteriously drop off early......(bonus).

Although they were discharged through your BK, they are still reportable as "IIB" "0" balance for 7 years as mentioned above. Anything included should show both a 0 balance, and IIB, and not say "chargeoff".

Any late payments which occurred prior to your filing are reportable. Late payments which occured AFTER the date of your filing should NOT be reported.

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Does any know exactly when and/or how BK and regular accts drop off?  For instance, I had one major acct that disappeared from all 3 CB's after my discharge. My Citi HD acct dropped off EQ recently and has been off my TU acct for over a year.  Do the CBs just determine "times up"  on these accts and drop them or does the OC do it?  I noticed that a lot of my closed accts haven't reported in over 5 years and are still on my CH.  I think I'll go search prior posts...... Thanks for any replys.

[Scupra]

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@jim44 wrote:

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@krielly wrote:

Any account included in your Bankruptcy can continue to report for 7 years from the Date of First Delinquency. They should fall off at that time. Some may mysteriously drop off early......(bonus).

Although they were discharged through your BK, they are still reportable as "IIB" "0" balance for 7 years as mentioned above. Anything included should show both a 0 balance, and IIB, and not say "chargeoff".

Any late payments which occurred prior to your filing are reportable. Late payments which occured AFTER the date of your filing should NOT be reported.

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Does any know exactly when and/or how BK and regular accts drop off?  For instance, I had one major acct that disappeared from all 3 CB's after my discharge. My Citi HD acct dropped off EQ recently and has been off my TU acct for over a year.  Do the CBs just determine "times up"  on these accts and drop them or does the OC do it?  I noticed that a lot of my closed accts haven't reported in over 5 years and are still on my CH.  I think I'll go search prior posts...... Thanks for any replys.

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Negative accounts will drop around 7 years after the DoFD and positive accounts usually linger for 10 years