Does checking current balance "re-up" the date information falls off credit reports?

[phoenyx]

I'm filing Chapter 7 bankruptcy within the next week or two.

On my credit report, there are several entries that are dated to fall off within approximately 5 years, since the accounts were charged-off about 2 years ago.

Does contacting the creditors to obtain the current balance (for the purpose of the Chapter 7 filing) change the date that the accounts will fall off to 7 years from now?

Would that date be changed to 7 years from now anyway, once they are marked to being included in bankruptcy?

[dp1969]

I'm filing Chapter 7 bankruptcy within the next week or two.

On my credit report, there are several entries that are dated to fall off within approximately 5 years, since the accounts were charged-off about 2 years ago.

Does contacting the creditors to obtain the current balance (for the purpose of the Chapter 7 filing) change the date that the accounts will fall off to 7 years from now?

Would that date be changed to 7 years from now anyway, once they are marked to being included in bankruptcy?

Good question. I,too, included charge-offs in the BK.

[HHM]

If you knew the answer, would it change your mind as to whether you would file BK (if it would, you need to take a look at your priorities).

However, calling them to get a balance will not effect your credit report.

You MUST list charge offs in your BK anyway.

[neolla]

http://ezinearticles.com/?Credit-Card-Charge-Off---What-Does-It-Mean-and-What-Should-You-Do-About-It?&id=81287

the link above may be helpful. creditors just consider an unpaid account/debt or no movement account for 6 months as charged-off because they can include the same as bad debts and hence, it will lessen the taxes they will pay for their business. but it is still outstanding debt and they can still collect the same from you.

correct me if im wrong guys, but i think it doesn't really matter if you correctly list each debt up to the last cent, what is important is that you listed it (with address) so that the court can notify the creditor of the BK.

[emoney]

The FTC rule is account activity, getting a balance is not account activity.
regards,
emoney

[no_it_all]

Does contacting the creditors to obtain the current balance (for the purpose of the Chapter 7 filing) change the date that the accounts will fall off to 7 years from now?

No

[magyar123]

Exact amounts aren't really necessary. Just list the creditors with an "approximate" or "about" amount.

[phoenyx]

If you knew the answer, would it change your mind as to whether you would file BK (if it would, you need to take a look at your priorities).

However, calling them to get a balance will not effect your credit report.

You MUST list charge offs in your BK anyway.

Yeah, it definatley won't changing my mind. I'm filing BK either way.

I was just concerned whether checking the balances (which helps me file my S-Corp IRS returns) re-ups the dates those accounts will fall off my credit report. And, I was wondering if that was moot if filing BK re-uped the dates anyway.

But, from what everyone's said, it sounds like getting a balance isn't account activity, so I should be fine.

The FTC rule is account activity, getting a balance is not account activity.
regards,
emoney

Does anyone know if filing the Chapter 7 or the associated discharge is account activity? I'm filing either way, just curious how long they'll be on my credit report since some have been "stale" for about 2 years already.

Exact amounts aren't really necessary. Just list the creditors with an "approximate" or "about" amount.

Yeah, the main reason I'm interested in the exact amounts isn't for the bankruptcy petition, but for my S-Corp's IRS tax returns.