Credit Krama Question

[nioka]

I believe I was discharged as of July 14 but have yet to receive any documents.
Checking Credit Krama all my previous CC debt now reads "0" and my credit score is almost back to where it was just before I filed chapter 7.
However, one thing I find puzzling is that CK shows I have $20k in credit card availability but don't have an active CC and never had one with a $20k limit. The total of all my discharged CC's may have been around $20k but they are all cancelled.
Is this simply bad reporting or is it possible I have a CC I am not aware of?

[LadyInTheRed]

In Credit Karma's "credit score center," look to the left of the screen. Any credit cards that they are including should be listed there. Click on the card and it will show the credit limit, the last day that creditor reported and other information on the account. My Credit Karma shows one card that I know for certain is closed, but the last date reported is in June 2010, 2 months after I filed BK. So, it is just outdated information. There is another card it shows open that I thought was closed and it shows the last reported date as July 6, 2014. I have a vague recollection that last time I checked my credit reports, there were some closed accounts still reporting a credit limit other than $0. Perhaps Credit Karma sucks in the credit limit without regard for whether the creditor reports the account open or closed.

ETA: Don't rely on CredtiKarma to monitor your credit reports. Download your credit reports directly from the credit reporting agencies using annualcreditrport.com. I'd wait 60 days before doing that to give creditors time to update their reports.

[spidge]

Remember you can get a report from each agency so run one at a time over a period of time, but I think there is a time limit. I just don't remember the limit. This way if there is something on the first report that you think needs more time to update you can go back and run another agency later to see if it updates. Transunion seems the most complete report in my opinion.

I use Credit Karma and I do like it even with the advertisements. I am a little concerned about the accuracy though as I had a medical billing error that was removed from all three agencies back in April yet Credit Karma still shows it. I even asked for it to be removed but CK services states that it will be removed when Transunion updates it. I think there is a glitch as the line was completely removed and not updated so CK does not recognize it. I cannot rely on it if something so simple cannot be corrected.

[LadyInTheRed]

Remember you can get a report from each agency so run one at a time over a period of time, but I think there is a time limit. I just don't remember the limit. This way if there is something on the first report that you think needs more time to update you can go back and run another agency later to see if it updates. Transunion seems the most complete report in my opinion.

Under Federal Law you are entitled to one free report a year for each agency. You are also entitled to a free copy of a report if you are denied credit based on the report. State laws may provide for more frequent reports. Annualcreditreport.com is where you should go to get free annual reports. If you go anywhere else, you are going to either pay or have to subscribe to some auto-renewing credit reporting service to get the reports.

IMO, after a BK discharge it is a good idea to get all three reports and correct any inaccurate reporting. After that, for ongoing monitoring, get a report from one agency every 4 months.

[spidge]

Under Federal Law you are entitled to one free report a year for each agency. You are also entitled to a free copy of a report if you are denied credit based on the report. State laws may provide for more frequent reports. Annualcreditreport.com is where you should go to get free annual reports. If you go anywhere else, you are going to either pay or have to subscribe to some auto-renewing credit reporting service to get the reports.

IMO, after a BK discharge it is a good idea to get all three reports and correct any inaccurate reporting. After that, for ongoing monitoring, get a report from one agency every 4 months.

That is where I went to obtain my free report, but I could not remember if there was a time limit on Annualcreditreport.com. I think the agency time limit is 30 days from first view, so I downloaded it so I would not forget.

The every four month approach is a great suggestion.

[LadyInTheRed]

That is where I went to obtain my free report, but I could not remember if there was a time limit on Annualcreditreport.com. I think the agency time limit is 30 days from first view, so I downloaded it so I would not forget.

The every four month approach is a great suggestion.

I misunderstood what you meant by time limit. I also always download them to my hard drive so it isn't an issue.

[nioka]

LadyintheRed

You posted:
" I'd wait 60 days before doing that to give creditors time to update their reports."

Do you mean I should wait 60 days after I receive my discharge to request the credit report?

[LadyInTheRed]

LadyintheRed

You posted:
" I'd wait 60 days before doing that to give creditors time to update their reports."

Do you mean I should wait 60 days after I receive my discharge to request the credit report?

Yes. Otherwise, you may end up spending time correcting reporting that would have been updated anyway.