So I am currently working on cleaning up our reports and I have some questions to ask. Some of these have probably been asked before and I am sorry if it is just repeating but I am not sure about some of these things being reported on our credit reports.
1.) Should anything that has been closed and paid in full report as a zero balance (talking about accounts that were not in the bankruptcy they were paid off years ago)? Does it matter if they have no balance just blank or should I have them put 0.00 balance?
2.) I use Truecredit.com and on all three reports there is a column that says Condition. On some of the credit cards/accounts that we filed on it says Closed (Paid) but some say Derogatory. Should they all say Closed (Paid)?
3.) There is a section where it says Remarks on the Truecredit reports that is where most of the Included in Bankruptcy is being noted.....is that right or ok?
4.) Some of the credit bureaus are noting it as Debt Included In Bankruptcy Chapter 7, 11 or 12 in the remarks section. Should I ask that it says Chapter 7 only or does it matter?
5.) On one of my credit cards that was included in bankruptcy it says derogatory all over it and in the remarks section one credit bureau reported it as "Purchased by another lender-debt included through bankruptcy Chapter 7, 11 or 12 and accounts closed by credit grantor" Should it say that? Or should it just say included in Chapter 7 bankruptcy? It was discharged in the bankruptcy.
6.) We had two accounts that we went ahead and didn't reaffirm but we told them what we thought the items were worth and then the court agreed to that and we paid those creditors that amount which was less that what we owed so on one of those accounts on the Experian report only is is showing in the pay status - Collection/Chargeoff and Derogatory in condition and in the remarks it says - "Unpaid Balance reported as a loss by credit grantor". Should it say that or should it say something else?
7.) What happens when you have an account that was opened back in the early 90's and was closed and it has been past 7 years and all of a sudden in 2006 and then also some just recently in 2008 they got reported on when they have been closed with a zero balance for over 7 years. Should they actually be allowed to be taken off the report now or now do we have to wait 7 years from when they last reported them? They were closed and had zero balances over 7 years ago so nothing new has been done to them and they didn't even report anything new.
8.) Should we ask that accounts that are well over 7 years be taken off or will it hurt more to have them removed? We have a lot that are closed and zero balance that were last reported back in 1994 and 2000 and have not been taken off yet.
9.) I had a Old Navy credit card that was included in the bankruptcy and my husband was just an authorized user. Everything is reporting ok on mine but it shows up on his credit as Closed (Paid) in the condition column and in the pay status it says Collection/Chargeoff and in the remarks it says "Charged off as a bad debt, profit & loss write off". This was included in our Chapter 7 and Discharged. Shouldn't it also say Included in Chapter 7 bankruptcy and Zero balance???
Ok that is it!
If you make it thru thank you so much! I just want to make sure I am taking off what I need to and asking that the right things be corrected.
Thanks again!!!
Tina
1.) Should anything that has been closed and paid in full report as a zero balance (talking about accounts that were not in the bankruptcy they were paid off years ago)? Does it matter if they have no balance just blank or should I have them put 0.00 balance?
2.) I use Truecredit.com and on all three reports there is a column that says Condition. On some of the credit cards/accounts that we filed on it says Closed (Paid) but some say Derogatory. Should they all say Closed (Paid)?
3.) There is a section where it says Remarks on the Truecredit reports that is where most of the Included in Bankruptcy is being noted.....is that right or ok?
4.) Some of the credit bureaus are noting it as Debt Included In Bankruptcy Chapter 7, 11 or 12 in the remarks section. Should I ask that it says Chapter 7 only or does it matter?
5.) On one of my credit cards that was included in bankruptcy it says derogatory all over it and in the remarks section one credit bureau reported it as "Purchased by another lender-debt included through bankruptcy Chapter 7, 11 or 12 and accounts closed by credit grantor" Should it say that? Or should it just say included in Chapter 7 bankruptcy? It was discharged in the bankruptcy.
6.) We had two accounts that we went ahead and didn't reaffirm but we told them what we thought the items were worth and then the court agreed to that and we paid those creditors that amount which was less that what we owed so on one of those accounts on the Experian report only is is showing in the pay status - Collection/Chargeoff and Derogatory in condition and in the remarks it says - "Unpaid Balance reported as a loss by credit grantor". Should it say that or should it say something else?
7.) What happens when you have an account that was opened back in the early 90's and was closed and it has been past 7 years and all of a sudden in 2006 and then also some just recently in 2008 they got reported on when they have been closed with a zero balance for over 7 years. Should they actually be allowed to be taken off the report now or now do we have to wait 7 years from when they last reported them? They were closed and had zero balances over 7 years ago so nothing new has been done to them and they didn't even report anything new.
8.) Should we ask that accounts that are well over 7 years be taken off or will it hurt more to have them removed? We have a lot that are closed and zero balance that were last reported back in 1994 and 2000 and have not been taken off yet.
9.) I had a Old Navy credit card that was included in the bankruptcy and my husband was just an authorized user. Everything is reporting ok on mine but it shows up on his credit as Closed (Paid) in the condition column and in the pay status it says Collection/Chargeoff and in the remarks it says "Charged off as a bad debt, profit & loss write off". This was included in our Chapter 7 and Discharged. Shouldn't it also say Included in Chapter 7 bankruptcy and Zero balance???
Ok that is it!
If you make it thru thank you so much! I just want to make sure I am taking off what I need to and asking that the right things be corrected.
Thanks again!!!
Tina
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