So I little info for background.
A few years ago (about 5ish) I found myself in a tough spot financially. All my cards were charged off, my car repo and score went to crap.
I managed to start rebuilding about 4 years ago. No late payments. All new accts paid religiously on time. Unfortunately that repo acct came back as a lawsuit right before the SOL ran out. Add to that medical bills from an emergency surgery and I had to file chapter 7.
Included was one of the old cards that was charged off as well as that auto loan that was repo.
Currently waiting on my discharge.
After the discharge, will those negative remarks from the accts included in BK still affect my scores?
The CC that was included has been reporting as CO for all these years and the auto loan as well.
MOST creditors will do all or a combination of the following: Delete the entire tradeline (rare), cease reporting monthly, remove any prior payment history but keep the account reported, show the account has a $0 balance, report the account IIB (included in BK). Reporting $0 balance, IIB, and no negative payment history going forward is all I'm aware they're required to do.
Best of luck!
Thank you so much for the reply.
Are you aware if accounts included in BK still fall off of the reports on the date they were supposed to if they were not in BK.
Example, that 3k card I included in BK is supposed to fall off my reports in a year. Does that remaing the same or does the BL change anything as far as that goes?
DOFD (date of first delinquency) still applies meaning BK filing does NOT restart the reporting period. As a matter of fact, Transunion offers a 6 month early exclusion and I just did an account yesterday. It came off literally in a matter of minutes after my dispute "This account is too old to be on my credti report" via CreditKarma direct dispute.
I hope this helps and best of luck!