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Shocked how fast this is

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Shocked how fast this is

I'm just totally shocked about how my credit report is changing. I was filed on 9/27, my 341 meeting isn't until 10/31, but my credit score is raising. But it did drop 97 points last week but this week it is raising. I'm getting alerts daily about changes. Most credit cards are showing zero balances now. Some say due IIB, which I thought would happen after the meeting and discharge. Even medical records that were in collections are saying zero. I was on the board and didn't read anything about this, may have missed it.

The only issue is we are still waiting for the reaffirming ppwk for my car, which I don't want but have to keep due to my husband being the cosigner. I don't just my bank, they also have some issue with billing. I just say issue because I don't trust my bank but everything going great though.
12 REPLIES 12
Frequent Contributor

Re: Shocked how fast this is

Wow! That is fast. I just filed also. How soon did you receive your date for 341? May I ask what's IIB? I'm afraid to look at my scores. 😔

Discharged Jan 2017
Rebuilding credit
Message 2 of 13
New Member

Re: Shocked how fast this is

I received my date on 9/28, the next day. And IIB means included in bankruptcy. Just means my credit says a lot of bankruptcy. My credit started at 607, then they told me to stop paying and it just kept dropping.
Message 3 of 13
New Contributor

Re: Shocked how fast this is

I am just wondering if you are told not to pay how come its reported how many times lated even if within bankruptcy?

Discharged 3/23/17
Fico 8 Scores 3/28/17
EX 606/TU 566/EQ 613
My scores 7/16/17-EX 659/TU 640/EQ 673
Message 4 of 13
Moderator Emerita

Re: Shocked how fast this is


@Mrscollins425 wrote:
I'm just totally shocked about how my credit report is changing. I was filed on 9/27, my 341 meeting isn't until 10/31, but my credit score is raising. But it did drop 97 points last week but this week it is raising. I'm getting alerts daily about changes. Most credit cards are showing zero balances now. Some say due IIB, which I thought would happen after the meeting and discharge. Even medical records that were in collections are saying zero. I was on the board and didn't read anything about this, may have missed it.

The only issue is we are still waiting for the reaffirming ppwk for my car, which I don't want but have to keep due to my husband being the cosigner. I don't just my bank, they also have some issue with billing. I just say issue because I don't trust my bank but everything going great though.

^^^To clarify: when you are in bankruptcy the bank can't bill you for the auto loan as it would be considered an attempt to collect the debt.

 

I paid my auto loans (2) during bk.  To do so, I had to call the bank and ask for the Bk department. I paid over the phone during the bk process as my online access was cut off and they couldn't send any bills.  They can take a payment if you initiate the call, but they can't contact you or even send you a bill. 

Message 5 of 13
New Member

Re: Shocked how fast this is

My bank auto draft every time my paycheck hits. My problem with them is they will send a late notice out even if it is draft on time. I have had to dispute many times and them even say I am a payment behind. Never missed a payment nor have been late. They have notice of the bankruptcy and haven't locked me out yet, it's a small credit union.
Message 6 of 13
Frequent Contributor

Re: Shocked how fast this is

The paralegal just told me that I'll have to call the bank to make my car payments bc my account is locked. When this is over, maybe next summer I plan to refinance with my credit union and hopefully will not hold bk against me.

The other day citi financial called me (pre filing). When I told them to contact my attorney the man became snarky saying they wouldn't talk to them without poa. I called my attorney, they told me not to worry about it.

It's crazy...one moment they're harassing you and the next they refuse to speak with you. I simply called to provide them with the proof of filing info so things could be initiated for release the garnishment. It all seemed to work out bc HR manager didn't enter the garn this payroll.
Discharged Jan 2017
Rebuilding credit
Message 7 of 13
Valued Contributor

Re: Shocked how fast this is


@empressj wrote:
The paralegal just told me that I'll have to call the bank to make my car payments bc my account is locked. When this is over, maybe next summer I plan to refinance with my credit union and hopefully will not hold bk against me.

The other day citi financial called me (pre filing). When I told them to contact my attorney the man became snarky saying they wouldn't talk to them without poa. I called my attorney, they told me not to worry about it.

It's crazy...one moment they're harassing you and the next they refuse to speak with you. I simply called to provide them with the proof of filing info so things could be initiated for release the garnishment. It all seemed to work out bc HR manager didn't enter the garn this payroll.

It is not craziness...it is fear! Once you have filed BK, if any action is taken by a creditor that is percieved to be attempting to collect the debt, they are liable to punative fine of 1000 dollars per occourance payable to the debtor. That is why all calls about debts you wish to continue to pay must be initiated by the debtor, even those you intend to reaffirm. If you do sign a reaffirmation agreement, you will become liable for that debt. Often however, a reaffirmation agreement is not required to keep asset that you are voluntarily continuing to make payments on.

TU fico08=823 10/28/19
EX fico08=813 10/16/19
EQ fico08=823 10/04/19
EX fico09=810 10/02/19
EQ fico bankcard08=844 09/24/19
Message 8 of 13
Valued Contributor

Re: Shocked how fast this is


@StartingOver10 wrote:

@Mrscollins425 wrote:
I'm just totally shocked about how my credit report is changing. I was filed on 9/27, my 341 meeting isn't until 10/31, but my credit score is raising. But it did drop 97 points last week but this week it is raising. I'm getting alerts daily about changes. Most credit cards are showing zero balances now. Some say due IIB, which I thought would happen after the meeting and discharge. Even medical records that were in collections are saying zero. I was on the board and didn't read anything about this, may have missed it.

The only issue is we are still waiting for the reaffirming ppwk for my car, which I don't want but have to keep due to my husband being the cosigner. I don't just my bank, they also have some issue with billing. I just say issue because I don't trust my bank but everything going great though.

^^^To clarify: when you are in bankruptcy the bank can't bill you for the auto loan as it would be considered an attempt to collect the debt.

 

I paid my auto loans (2) during bk.  To do so, I had to call the bank and ask for the Bk department. I paid over the phone during the bk process as my online access was cut off and they couldn't send any bills.  They can take a payment if you initiate the call, but they can't contact you or even send you a bill. 


I know in some States a reaffirmation agreement does not have to be signed in order to keep an asset as long as all payments are kept current. It is often an advantage not to sign one if the value of the asset is less than the amount owed. If a year in the future, you find that you no longer wish to keep the asset, you can surrender it, and will not be subject to a defecit judgement. On the other hand, your timely payments on this asset will never be reflected on your credit reports to help on your rebuild.

TU fico08=823 10/28/19
EX fico08=813 10/16/19
EQ fico08=823 10/04/19
EX fico09=810 10/02/19
EQ fico bankcard08=844 09/24/19
Message 9 of 13
Frequent Contributor

Re: Shocked how fast this is

Thank you for the clarification
Discharged Jan 2017
Rebuilding credit
Message 10 of 13
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