To be clear, what should the status on a credit report for a discharged Ch 7 BK say?
Should be "Discharged thru BK" or "Included in BK", right?
I have an 2 items that I believe are wrong:
1) Bank loan that was included in the BK in 7/07 that says as status "Foreclosure Proceedings Started". No foreclosure has occurred. It should say "Discharged thru or Included in BK", right?
2) A different bank loan, also included in this BK in 7/07, was recently updated by the creditor to say "Discharged thru BK/Foreclosed". This was NEVER foreclosed on and was not even late 30 days at the time the bk was filed. Further, they updated the status date from 7/07 to 12/07, which certainly will negatively affect my score.
I should dispute both of these with EX and also contact the creditor, right?
You should dispute with the CRA first to get it changed especially to remove the foreclosure notation. It should say IIB only. If you get no satisfaction there, then start writing GW letters to the creditor asking them to fix it.
No, they are not trying to collect on it, but by adding the word "foreclosed" and changing the status date from July (6 months ago) to December (1 month ago), down goes my score now and any manual reviewer will cringe at the "f" word.
Not acceptable. I disputed with EX and will go hard after this creditor if the dispute does not fix it.
I have a similar situation with a local credit union. My chapter 7 was discharged in July of 01 and they are reporting me late 120 plus days as of 2003. I have disputed but so far no word back from any of the 3 bureau's on it. I wrote a letter to the credit union and so far no reply. And it is due to fall off my credit report in March of 08 and I can't get ahold of equifax to ask them if this is the case. Anyone know their number?
Granny - if you were discharged in 7/01, that means you must have filed around 3/01 or 4/01 so a "fall off" date for this item is indeed 3/08.
Since this is only 2 months from now, I'd wait it out. But, you could dispute and maybe they would just delete since you are so close. In any event, should not be affecting your FICO score too much by now.