Hello,
I can't find anything about why one of my accounts included in BK7 from 8/2015, Chase, is reporting as 9 charge offs on my EX report. I believe it is why despite my otherwise perfect credit + BK public record cannot push me over 700. I have done EVEYTHING to improve my credit including:
Under 6% Utilization, 1 auto loan, 5 CCs with nearly 3 yrs, 1 CC 6months, Total CC limit = 22,000, Experian Boost, no missed payments on any of my open accounts, 2 hard inquiries (>6 months). I do know for a fact that there are people with BK7 that have 750 or so despite the public record BK7 showing. There is another closed account that conveniently shows negative only the same month I filed bankruptcy. I feel like there is something very wrong with how Chase is reporting to the CRA. Please if someone has any answers about the 9 chargeoffs on one account, please let me know. I appreciate ANY info at all. Thank you!
Chase is showing 9 months of non- payment pre-bankruptcy after 180 days late. Experian has it listed as 9 charge - offs for this one account. It never went to collections and remained with Chase - it looks to me like they didn’t close it until bankruptcy.
When or did you stop paying on the account before filing? Any negs before filing stays intact. Now if it was up to date then Chase is in the wrong. Creditors are not allowed to report your debt in a variety of ways that could cause your credit to suffer after filing. Listings them as currently owed, late, delinquent, outstanding charged off, having a balance due, converted to a new type of debt (re-aged) or given new account numbers, for example. Then its time to contact your lawyer. No negs can be listed after the file date and must say IIB and 0 balance.
It looks like the credit reporting agency doesn’t want to show my perfect history prior to when I stopped making payments the only thing on my account is that it’s showing for 30 days late 60 days late 90, 120, 180 and then there is nine months where it shows it being negative and after that nine months is when I file bankruptcy the account shows a zero balance and the account shows as nine charge-offs. The biggest question is are they reporting this correctly? Why is this holding my credit score below 700? And ultimately, why did I file bankruptcy if this account or others are going to affect my credit so severely despite my due diligence in repairing and maintaining perfect credit with all my open accounts?
I truly believe that 9 out of 10 people don’t know what their rights are and just assume that their credit is going to be crap (<600) for the 10 years that the bankruptcy is on. That’s what I initially thought until I was told that some people have gotten their bankruptcy off early, and some people with a bk7 have a 750 score only 3 yrs after discharge!
I truly believe that 9 out of 10 people don’t know what their rights are and just assume that their credit is going to be crap (<600) for the 10 years that the bankruptcy is on. That’s what I initially thought until I was told that some people have gotten their bankruptcy off early, and some people with a bk7 have a 750 score only 3 yrs after discharge!
So what date was the first of the late payments posted compared to your file date? Better not be after file date. And when was the last payment before the file date?
It's not counting it as 9 separate charge offs, it's just reporting as a CO every month after it exceeded the 120+ late stage and was actually charged off. Now, if as FireMedic and others have said, this is reporting AFTER your BK, then that is illegal and you should contact your lawyer. But if it is accurate in the sense that the account hadn't been paid on and was CO'd prior to BK filing, then there is nothing that can be done I'm afraid.
