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Hi Everyone,
So, I have a BK from 2015 and the accounts that were included are showing a payment status of "debt included in BK' with the lates still reporting. Is that normal or should I be requesting it be updated? When applying, I am getting declines for late payments on accounts and I have been current ever since the BK. Any help would be appreciated.
Thank You!!
Lates that occured prior to the BK remain in your report for the normal 7 year exclusion period.
You cannot have a reported late for months after your BK.
Are the lates reported for months prior to the BK?
Additionally, account status is different from payment history.
Once the debt is discharged, be it by payment, cancellation of the debt, or discharge under a BK, the current status is updated to a paid or discharged status. Current statut is a snapshot only of status as of the date reported. It reflects no historical info.
However, prior derogs reported under payment history that occured before the BK still remain as an historical record, and are not removed once an account is paid or the debt otherwise discharged.
Hi,
Thanks for your response. Yes the lates are showing on my report prior to my BK.
Thank You