TUSCANI Help me PLEASE!!! Somebody PLEASE!!!

[Anonymous]

I need your expert advise!!

My husband and I filed Ch 7 bk in 2001 and it was discharged.

My FICO's are:

                         Transunion        690

                          Experian           658

                          Equifax             675

Equifax lists the bk as discharged

Transunion doesn't even have the bk in the  public records, however, accounts included in bk say unrated or bk.

Experian has that ch 7 petition was filed but the status is "not on record"

Questions: Should I notify transunion of the bk or leave it be.

                   Should I let Experian now it was discharged or leave it be.

Also, I at the time we voluntarilly surrendered a vehicle to the bank, but they list it as a repo, should I try to have them rewrite their remark, to "consumer voluntarily surrended vehicle"

I know my scores are not terrible, but is the inaccurate info hurting me or if I fix and update, will this info after it's corrected remain on for another 10 years, should I just leave well enough alone. Husband managed to refi at 5.75 30 year fixed mortgage 2 years ago. The only credit I will need is prob a used car loan within 6mos to a year.

THANK YOU SOO MUCH

Jennifer 

Message Edited by anthonyjohnray on 08-24-2007 05:46 PM

Message Edited by anthonyjohnray on 08-24-2007 06:22 PM

[Anonymous]

You are doing good on your scores keep your chin up. As to the voluntarily returning your car- I did that about 12 years ago. Sorry- but it is a bank/credit union ploy to have a "nice repo" so to say. It still is a repo- I hope they did not give you false info over the phone.

The lady contacted me and told me- (I only had about 2500 I owed) that she would either send a tow truck to my work or I could come and turn it in to avoid embarassment. Of course, I thought that by turning in my car I was doing the voluntary thing too. What they did then was take my car to auction, and because it had some damage inside- they got 500 dollars for it and credited to my account. I still had to pay the balance- it took me some years, but I did it.

Sorry- if they gave you some different information or if anyone else on this board knows how to handle this voluntary turn in of car better I hope you will post it.

Good luck and keep growing! You are doing well.

[Anonymous]

First, Thank you for your response, Actually my experience was quite different, the Credit Union did not make me pay anything once I surrendered it. I quess that is good, I get that whether or not it was voluntary or not, "It is what it is" I just think it would look better to future prospective creditors to see,"consumer voluntarily surrendered vehicle", rather than, "Reposession"  I do realize that it probably won't affect my #'s.

 How about the inacurracies on the bk? If I notify Experian that the Ch 7 was discharged in 2001, will it stay on for 10 more years after the update  or would it still fall off as scheduled 10 years from the 2001 discharge date??

And Transunion does not have it listed in the public records, but, the accounts affected by my bk say "included in bk or unrated" will me bringing the discharged bk to thier attention from 2001 help me or hurt me??

Like I said before I don't know if I should just leave well enough alone or if fixing these would benefit my scores. 

Thanks Again!!

Jennifer

Message Edited by anthonyjohnray on 08-24-2007 07:52 PM

[Anonymous]

Bump! Hoping Tuscani will help or anyone with input. Much Appreciated.

Thanks!!

Message Edited by anthonyjohnray on 08-27-2007 06:44 PM

[Anonymous]

You have a great rate on your mortgage. You are in good shape there unless you need to cash out at some point.  Then count on a much higher rate.  Your main focus should be on re-establishing your credit.  This will help your scores and your position for future loans more than anything.

 You will get a car loan, but will likely pay a higher interest rate than if you didn't have BK.  You had a BK so you cannot do anything about it now, it is what it is.

As far as changing the wording on your repo, it is a repo and you carried a balance more than likely.  If there is no balance due or reported, your local credit reporting agency will change verbiage, but probably not at the bureau level. Your best hope of removing these items is contacting the creditor and asking if they will remove and get it in writing and then send to the bureaus.  You have much better chance if no balance was forwarded against your surrender.

Sometimes if it has been some years, you can dispute the debt and see it removed from your report altogether, but it isn't likely.

I hope this helps answer your questions.