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How should this acct be reported? UPDATE

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How should this acct be reported? UPDATE

UPDATE:  I decided to file a complaint with the CFPB.   Experian replied that they need more time to verify with the Credit Unino.  I just received a call from the Credit Union and they agreed to immediately delete both accounts from Experian.  She said that it is scheduled to be deleted from Equifax in September but she would delete it from the Equifax also. My TU is already clean as of July, EX should be clean by tomorrow and Equifax next month.  Thanks Everyone. 

 

 

 

I think this is the correct section for my questions. I filed Chap 13 on 28 October 2010 and got my discharge on 26 January 2016. At the time of filing I had an auto loan and credit card from my local credit union that were never late  always current. My attorney did a cram down on the auto and the balance was paid through the plan.  The cc and auto were cross collateral.

 

As soon as the BK was deleted these accounts began reporting as failed to pay in Jan 2016. I disputed the payment history with the CU and EXperian. The CU result says the information is an accurate reflection of my obligation.

 

I got the Experian dispute result back today and they  removed the failed to pay history but in the Auto loan status section says this acct will continue on record until October 2020. The credit card status says it will remain until Dec of 2017. Shouldn't the auto loan remain until Dec of this year vs Oct 2020?  

 

Chap 13 dc Jan 2016. 09 June '19 Fico 8 scores 748 EX, 750TU, 752 EQ 741.Cap 1 QS 5k / SGV $7.5/ Cap 1 V1 $11k / Amex ED $1k / Disc IT $14.2k / USAA Rate Advantage $23k / PenFed Defender $16k / Amex BCE $10k / NFCU GoRe $24k / Nordstrom store card $6.7k. / USAA Limitless $12k/ AMEX BCP $10k/ Navy Platinum $20k / Amazon Prime Rewards Visa $6k/ US Bank Platinum $500/ Citi Costco $12.5k / Amex Magnet $6k/ US Bank Cash+ $19.5 / Macys Amex $8.5k - 2 Sync store cards and 3 Comenity store cards. NFCU Auto $23k @ 3.99 / local CU RV loan 20k @ 4.99 / PenFed Used Car Loan $12k @ 3.74% /
Message 1 of 7
6 REPLIES 6
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Legendary Contributor

Re: How should this acct be reported?

Can you explain a bit.....?

It is stated that the accounts were never delinquent, but are now reporting a failed to pay status, which is an adverse reporting.

 

Were the accounts open or closed at the time the failed to pay comments began to be reported in Jan 2016?
What was the reported current status in those months, and were any monthly delinquencis reported?

Is the "failed to pay" designation only a special comment, or was it some other status?

 

"Failed to pay" is a general comment that is based on a delinquency.  It is unclear as to what the specific reported delinquency was.......

Message 2 of 7
Established Contributor

Re: How should this acct be reported?


@LUVMYLEAF wrote:

I think this is the correct section for my questions. I filed Chap 13 on 28 October 2010 and got my discharge on 26 January 2016. At the time of filing I had an auto loan and credit card from my local credit union that were never late  always current. My attorney did a cram down on the auto and the balance was paid through the plan.  The cc and auto were cross collateral.

 

As soon as the BK was deleted these accounts began reporting as failed to pay in Jan 2016. I disputed the payment history with the CU and EXperian. The CU result says the information is an accurate reflection of my obligation.

 

I got the Experian dispute result back today and they  removed the failed to pay history but in the Auto loan status section says this acct will continue on record until October 2020. The credit card status says it will remain until Dec of 2017. Shouldn't the auto loan remain until Dec of this year vs Oct 2020?  

 


Sounds simliar to my issue.  I thought eveyrthing was being paid through the BK but come to find out htey stopped sending me the bill to make payments and now they want some money for the rest :\

 

Have you tried speakign with your BK lawyer?  They might be able to help.




FICOBeginning (6/2017)Current
Equifax636707
Transunion627725
Experian623726
Message 3 of 7
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Valued Member

Re: How should this acct be reported?

RobertEG, thx for looking at this. I'll try to clarify. The Credit Card account is noted to remain until Dec 2017 so my primary issue is with the date the auto loan will be deleted.

 

in Jan of 2016 the account was closed and discharged. I even called the Cu in March of 2016 to request the Title to the car and they sent it to me.

 

 The accounts never reported as delinquent until 2 weeks ago. The status was "discharged through bankruptcy Chapter 13". All of the monthly payment history boxes were marked ND from Oct 2010 through Dec 2015 no delinquency was reported. 

 

2 weeks ago the payment history changed. Oct 2010 through Dec remained ND but 90 was added to the Jan 16 box. 

 

I disputed the payment history with Experian. The dispute resulted in  payment history only listed for Sept and Aug 2010 and the boxes are now marked OK.  The  status is now "discharged through bankruptcy chapter 13 this account is scheduled to continue on record until Oct 2020 this item was updated from our processing of your dispute in Jul 2017"

 

I just noticed that the account now reports date opened Feb 2007. First reported Aug 2010. Date of status Jan 2016. Recent balance $0 as of Jan 2016. Account history Debt included in Chapter 13 Bankruptcy on Jan 26, 2016. 

 

Thx again. 

 

 

 

 

 

 

Chap 13 dc Jan 2016. 09 June '19 Fico 8 scores 748 EX, 750TU, 752 EQ 741.Cap 1 QS 5k / SGV $7.5/ Cap 1 V1 $11k / Amex ED $1k / Disc IT $14.2k / USAA Rate Advantage $23k / PenFed Defender $16k / Amex BCE $10k / NFCU GoRe $24k / Nordstrom store card $6.7k. / USAA Limitless $12k/ AMEX BCP $10k/ Navy Platinum $20k / Amazon Prime Rewards Visa $6k/ US Bank Platinum $500/ Citi Costco $12.5k / Amex Magnet $6k/ US Bank Cash+ $19.5 / Macys Amex $8.5k - 2 Sync store cards and 3 Comenity store cards. NFCU Auto $23k @ 3.99 / local CU RV loan 20k @ 4.99 / PenFed Used Car Loan $12k @ 3.74% /
Message 4 of 7
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Legendary Contributor

Re: How should this acct be reported?

What was the date that each was closed?

 

CRAs remove adverse information based on the requirments of FCRA 605(a).

They also remove closed accounts under their own internal housecleaning policy at approx. 10 years after date the account was closed.  That date can vary, and is not based on any provision of the FCRA.

 

The date of removal would appear to be under their internal housecleaning policy, which has not specific period, rather than any specific statutory period for adverse items reported under an account.

Message 5 of 7
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Valued Member

Re: How should this acct be reported?

 What you say makes sense since the auto loan will stop reporting 10 years from the file date.  I don't understand why the credit card will report until 7 years 2 months from the file date since both accounts were closed at the same time.  I believe the CU closed the accounts when I filed in Oct 2010. 

 

I thought that all accounts IIB would be deleted from my CR's at the 7 year mark. 

 

Thanks. 

 

Chap 13 dc Jan 2016. 09 June '19 Fico 8 scores 748 EX, 750TU, 752 EQ 741.Cap 1 QS 5k / SGV $7.5/ Cap 1 V1 $11k / Amex ED $1k / Disc IT $14.2k / USAA Rate Advantage $23k / PenFed Defender $16k / Amex BCE $10k / NFCU GoRe $24k / Nordstrom store card $6.7k. / USAA Limitless $12k/ AMEX BCP $10k/ Navy Platinum $20k / Amazon Prime Rewards Visa $6k/ US Bank Platinum $500/ Citi Costco $12.5k / Amex Magnet $6k/ US Bank Cash+ $19.5 / Macys Amex $8.5k - 2 Sync store cards and 3 Comenity store cards. NFCU Auto $23k @ 3.99 / local CU RV loan 20k @ 4.99 / PenFed Used Car Loan $12k @ 3.74% /
Message 6 of 7
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Legendary Contributor

Re: How should this acct be reported?

CRA deletion of closed accounts is not under any 7 year exclusion provision.

It is discretionary, with no set period.  The normal deletion period is 10 years from date closed, but can vary.

Message 7 of 7
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