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Current/ closed account changed to IIB

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kiea
Frequent Contributor

Current/ closed account changed to IIB

I filed chapter 7 in April 2017.  All of my accounts that were IIB as dropped off all 3 reports besides a Fingerhut account (this account was paid before bankruptcy but Fingerhut refuses to update the status correctly).  I just checked my Equifax report and I noticed a closed Credit One account with a balance that I opened after discharge is now showing as IIB.  I don't understand how this happened after 4 years.

 

I have been making payments on balance monthly.  At this point, I don't know if it will be wise for me to dispute it since the balance is no longer included in my total balance due, my overall ulitization has improved, and the 2 late payments from last year are gone but I don't want this to affect me in a negative way in the future.  I need advice on whether or not I should dispute it?

 

Also, if I don't dispute it will this account stay on my report until 2024 since I filed in 2017?

Start of rebuild July 2021

January 2022
Message 1 of 10
9 REPLIES 9
Horseshoez
Senior Contributor

Re: Current/ closed account changed to IIB


@kiea wrote:

I filed chapter 7 in April 2017.  All of my accounts that were IIB as dropped off all 3 reports besides a Fingerhut account (this account was paid before bankruptcy but Fingerhut refuses to update the status correctly).  I just checked my Equifax report and I noticed a closed Credit One account with a balance that I opened after discharge is now showing as IIB.  I don't understand how this happened after 4 years.

 

I have been making payments on balance monthly.  At this point, I don't know if it will be wise for me to dispute it since the balance is no longer included in my total balance due, my overall ulitization has improved, and the 2 late payments from last year are gone but I don't want this to affect me in a negative way in the future.  I need advice on whether or not I should dispute it?

 

Also, if I don't dispute it will this account stay on my report until 2024 since I filed in 2017?


Just to be clear, did you open the CreditOne account before or after you filed your bankruptcy?

Chapter 13:

  • Burned: AMEX, Chase, Citi, Wells Fargo, and South County Bank (now Bank of Southern California)
  • Filed: 26-Feb-2015
  • MoC: 01-Mar-2015
  • 1st Payment (posted): 23-Mar-2015
  • Last Payment (posted): 07-Feb-2020
  • Discharged: 04-Mar-2020
  • Closed: 23-Jun-2020

 

I categorically refuse to do AZEO!

In the proverbial sock drawer:
Message 2 of 10
kiea
Frequent Contributor

Re: Current/ closed account changed to IIB

The account was opened after I filed/ discharge 

Start of rebuild July 2021

January 2022
Message 3 of 10
Horseshoez
Senior Contributor

Re: Current/ closed account changed to IIB


@kiea wrote:

The account was opened after I filed/ discharge 


Then I believe you need to dispute this directly with CreditOne.

Chapter 13:

  • Burned: AMEX, Chase, Citi, Wells Fargo, and South County Bank (now Bank of Southern California)
  • Filed: 26-Feb-2015
  • MoC: 01-Mar-2015
  • 1st Payment (posted): 23-Mar-2015
  • Last Payment (posted): 07-Feb-2020
  • Discharged: 04-Mar-2020
  • Closed: 23-Jun-2020

 

I categorically refuse to do AZEO!

In the proverbial sock drawer:
Message 4 of 10
kiea
Frequent Contributor

Re: Current/ closed account changed to IIB

Okay, I will try that thanks

Start of rebuild July 2021

January 2022
Message 5 of 10
Slowlyrebuilding
Contributor

Re: Current/ closed account changed to IIB

Did you close the credit one account and are paying off the remaining balance or was it charged off?

Message 6 of 10
kiea
Frequent Contributor

Re: Current/ closed account changed to IIB

Credit One closed the account because of a return payment.  I have been making monthly payments to pay off the balance ever since it closed 

Start of rebuild July 2021

January 2022
Message 7 of 10
FireMedic1
Community Leader
Mega Contributor

Re: Current/ closed account changed to IIB

The account will stay on your reports as any other account thats closed for 10 yrs BK or not. Please be careful in the future. You dont want any boo boos after BK. This is when you need to prove yourself again. Doesnt change things really with IIB. If it has IIB listed. In a way it looks better than closed by creditor.


Message 8 of 10
kiea
Frequent Contributor

Re: Current/ closed account changed to IIB

Thanks, I decided that I'm going to leave it alone.  My ulitization went down by 15% so it actually benefited me.  Hopefully, the balance won't update correctly next month.  If it does my score may decrease.  

Start of rebuild July 2021

January 2022
Message 9 of 10
FireMedic1
Community Leader
Mega Contributor

Re: Current/ closed account changed to IIB


@kiea wrote:

Thanks, I decided that I'm going to leave it alone.  My ulitization went down by 15% so it actually benefited me.  Hopefully, the balance won't update correctly next month.  If it does my score may decrease.  


 

👍


Message 10 of 10
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