How to optimize my credit? (Post BK)

[mhman]

Hello,

Since all debts were discharged, my life has been back on the right track.
Some new credit cards, but always pay all off in advance.....

However, I have a question about my credit report.

When I filed BK, Automatic Stay was applied....but my credit card account which was included in BK shows "120 days late" or similar.

I think "120 days" mean from the filing date to the discharge date.
Is this normal?

I paid most payments until I file BK but I expected that Automatic Stay prevents "Late" status until the discharge date. Am I misunderstanding?

If I can remove "120 day late" for some credit card accounts, my score will soar over 700. I am not sure if I need to fix this problem or not.

Any advice would be highly appreciated.

[brokr741]

Its my understanding that they can only report the status up to the filing date. So if it was 90 days late they can report 90 days late and that can remain on your report even after filing. They should not be able to report anything derogatory after the filling date other than included in BK.

[mhman]

@brokr741
Thanks for your comment. If your comment is right, I must fix all negative records after the filing date.
I paid most of bills until the filing date so this fix might improve my score and credit history a lot.
Thanks again!

[IBroke]

Even if you were 90 or 120 days past due at filing, once you are discharged, they can only report these late payments on the payment history of your account. They often try to fool you and want to claim that they can report a CURRENT status of "XX days late" even after discharge because you were XX days late "at some point".

However, that's not what the CURRENT status is for. As the name already suggests, it must reflect the CURRENT status - and that would be "IIB".

If find it amazing that these creditors want to claim that your account-balance is actually $0 (that's what they also have to report after discharge) BUT you are CURRENTLY 120 days past due at the same time. How can I be past due on $0?

This, BTW, happens on transferred accounts as well (i.e. when sold to a CA).