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going from "filed" to "discharged" on CRA

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granny031350
Established Contributor

going from "filed" to "discharged" on CRA

Does anyone know how much it would tank the scores to go from a filed chapter 13 in August of 2005 to a discharged chapter 13 in August of 2008? 
 
I ask because when I updated my credit report in January (disputed information etc) my fico saw that as a "new" delinquency when all I did was change an account to IIB/zero balance.  So my fear is that when the "report date" reflects the more recent date, the fico computers will think it is a recent filing when it is not.
 
thanks
Message 1 of 5
4 REPLIES 4
Anonymous
Not applicable

Re: going from "filed" to "discharged" on CRA

Granny - For EX, FICO calculates using the Status Date.   You need to make sure that date is accurate.    For a credit account included in BK, the status date CANNOT be after the month in which you filed the BK, which would be August of 2005.  If so, dispute dispute dispute.
 
For EQ and TU, I cannot speak as well to them, but the answer (Aug 05) must be the same.  A 3 year old BK, as yours will be next month, will not hurt you anywhere as much as a new one would obviously........
Message 2 of 5
granny031350
Established Contributor

Re: going from "filed" to "discharged" on CRA

thank you for answering.  I am not filing a new bk.  Just need to have my credit report reflect my chapter 13 as discharged.  However I am afraid if I update it, it will tank my scores again.
Message 3 of 5
_andClimbing
Contributor

Re: going from "filed" to "discharged" on CRA

I disputed on EX to have my Ch 7 BK status changed from Filed to Discharged - just a few weeks ago actually. The BK was from 2005.

They changed the status and there was no impact on my FICO score.
5/11/08 FICOs: EQ - 551
8/6/08 FICOs: EQ - 659, EX - 663, TU - 683
Message 4 of 5
RobertEG
Legendary Contributor

Re: going from "filed" to "discharged" on CRA

Exactly how FICO scores a BK as time wanders on is only known by them.  However, how long the BK remains in your CR is controlled by the FCRA as follows:
 

Cases under title 11 [United States Code] or under the Bankruptcy Act that, from the date of entry of the order for relief or the date of adjudication, as the case may be, antedate the report by more than 10 years.

 

The filing date is not the controlling date.  Thus, once 10 years has passed from the date of entry of the court order or date of adjudication, then it will no longer be included in your CR, and therefor cannot be scored by FICO at all.

 
Message 5 of 5
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