Cleaning Up Your Credit Report

[garyp15]

I would dispute it with Experian first, not Amex.

Amy,
will do and thanks again

[crabcakes]

Is it possible for transunion to not find my credit report after BK? I needed a copy of my report after my case was discharge but was told that they cannot find it . I got a letter in the mail today that looked suspicious because the letter appeared like it came from transunion and it was asking me for some information about my driver's license, bank statement, cancelled check. Any advice. It even told me to go their website.

[ssc2761]

I had cleaned up most of the wrong information on my credit reports. I am having the biggest problem with Equifax. 3 of my discharged accounts keep being verified as charge offs instead of as IIB. The other two bureaus had no problem changing it to IIB. At this point, I have tried to correct Equifax via online and a phone call. Next I suppose I'll have to do it in writing. Any suggestions on the best way to go about this. Do I need to contact the actual creditors? They have verified incorrect information numerous times now. Any help is appreciated. Thanks!!

[IBroke]

I had cleaned up most of the wrong information on my credit reports. I am having the biggest problem with Equifax. 3 of my discharged accounts keep being verified as charge offs instead of as IIB. The other two bureaus had no problem changing it to IIB. At this point, I have tried to correct Equifax via online and a phone call. Next I suppose I'll have to do it in writing. Any suggestions on the best way to go about this. Do I need to contact the actual creditors?

Yes, fight the SOURCE of the wrong information. If you disputed once with the bureaus and the wrong info was verified, it's time to put the pressure on the original creditors. If you have proof that they verified wrong info (like a written verification from Equifax), I would actually tell the creditors to REMOVE the entire tradeline or they will be sued by your attorney.

[ssc2761]

Ok now that I have a credit card, I have a question regarding payments on the credit card. I charged $7.60 and then my statement comes out with minimum payment due of $7.60. After the statement comes out, I have charged some additional money on the card and total is now $20.45. Do I just pay the $7.60 because the statement came out or do I pay the full $20.45? I am worried about when the card reports to the bureaus each month. Isn't it better to pay the statement balance in full each month? Or should I pay the balance in full each time I charge something? Thanks all for any help on this.

[veggirl]

I have a question regarding what others who check your credit see after you've filed. Do they see everything on the report? All the accounts opened before/ closed after BK? or do they just check your scores? I am thinking cc companies that check, landlords, mortgage brokers etc?? What exactly do they see..hope I am explaining myself clearly! Thanks so much!!

[Amy26]

They see everything. They only way they will only see a small portion of your report is if it is a soft inquery. If its a hard inquery, they see everything.

[veggirl]

Thank You Amy! So if your credit score is decent will they consider that more over X amount of accounts discharged in BK? Also, do they show previous balances written off in BK? or should all balances show as 0? thanks so much!

[Amy26]

No actually. Unfortunately, even if you have a good score the Bankruptcy will trump everything. Having said that, it DOES help. For example, someone with a BK and say a 600 FICO score will not fare as well as someone with a BK and a 700 score. Also, the more time passes from your discharge date the less a financial institution will regard that bankruptcy. Typically, the key dates are 1 year anniversaries from your discharge. Three years+ is generally where people can start getting some more top tier lines. If your score is decent and all accounts reporting properly, you won't find it difficult to obtain the credit you want... you just need to be choosier and do your research before you apply. You will not be able to obtain A grade credit any time soon but depending on where you go, you will find some good deals. IE: bankruptcy friendly credit unions. Myself and many others have found a wide variety of options with credit unions. And sometimes you can't take no for an answer. I was initially denied my auto refinance and line of credit with Navy Federal. They stated the reasons of not enough positive trade lines and serious delinquency. As it turns out, a lot of my IIB accounts report a "date of first delinquency" or "date of major delinquency". This is actually fairly typical. So, even though the trade line is IIB it still sometimes comes up as a delinquent account. I sent a reconsideration letter to Navy siting that the accounts were IIB and in fact not delinquent and some other compelling statements and my refi and line of credit was then approved. So, the long answer to your short question is sometimes you will just flat out get a denial stating "evidence of bankruptcy" and other times you will be approved or have to do some fancy reconsiderations. But, its not hopeless by far.

All of your bankruptcy accounts should show a zero balance and have a "included in bankruptcy" notation or IIB. If you had previous delinquencies before your filing or charge offs, they are still allowed to be reported. However, if anything is reporting negatively with a date after your filing, then that is not permitted.

[koasta11]

Hello,
I was wondering I just looked at my credit report and this is what it says.I filed chapter 7 in 8 2010 Comments: Equifax Included in bankruptcy TransUnion Auto Experian Collateral: BANKRUPTCY CHAPTER 7 is this right and should it say 0 balance

Equifax I 08/2008 - - - 08/2010 -
Experian I 08/2008 $36,765 - - 08/2010 Closed -
TransUnion I 08/2008 $36,765 - $0 05/2010 Closed $0
Comments: Equifax Included in bankruptcy TransUnion Auto Experian Collateral: BANKRUPTCY CHAPTER 7

[dneil]

If my credit report says, "discharged through bankruptcy Chapter 7/ and account closed at credit grantor's request" is this okay? If not, what do I need to do?

[dneil]

One other thing.... on my Experian credit report, it lists my ex husband as my spouse? He has terrible credit. How does this affect me? Should I dispute this???

[dneil]

Last question- I did not re-affirm my mortgages (1st or 2nd) They are with BOA. I have never been late on my payments and of course it was IIB, but it does say never late. Why then, is it listed under negative accounts???

[Kuya]

I noticed that on My Experian Report it now shows TWO bankruptcy items

1) has my case # (06XXXX) and a status of Bk Petition.

The second & separate entry has my case # as (06XXXXREL) with a status of Discharged.

I am confused because it looks like I have two bk's and one is still open. Is this normal? Shouldn't it only be one entry? Can anyone confirm?

[bobertthecat]

Hello All,
I was discharged just yesterday. I was checking my credit report today. Transunion looks weird to me. My score is 544. It is listing all of my bk'ed accounts as "Unrated". I read here that this is OK for new accounts. But for old, bk'ed accounts, like mine..shouldn't they be described as "Included in BK" or "IIBK"?
Thanks in advance for your advice,
Heather