Some of my creditors are telling me that my accounts are about to be charged off and I know I won't be able to file Ch7 before that happens. When I do file, will the charge-offs on my credit report go away? Will they change from charge-offs to showing a BK? Is it more difficult to file a BK(7) if you have charge-offs? Thanks!
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Having charge-offs really has nothing to do with the ability to file or receive a discharge in a bankruptcy. If you file after an account is charged off, or even before, the status will be the same: included in bankruptcy (IIB).
Bankruptcy, however, will not "remove" the credit line from your credit report, or reset the payment history. After discharge or the case being closed, some debtors have been successful in removing negative information, but there is no rule requiring a creditor or credit reporting agency to remove accurate information (which may be your actual history before filing).Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
Status: (Auto) Discharged and Closed! 5/10
Visit My BKForum Blog: justbroke's Blog
Any advice provided is not legal advice, but simply the musings of a fellow bankrupt. -
So it's no worse to have charge-offs and a BK than just a BK?Comment
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After I was discharged, I checked all three of my credit reports and starting working on 'fixing' the charge-off from creditors, all charged offs have been deleted and/or IIB, but I'm having trouble with one creditor (BofA) who WILL NOT change/include the charge-off status to IIB AT ALL. Since everything else has been correctly reported/fixed, I'm thinking about letting this one go...for now.May 2008 Hired 1st Attorney/Stopped paying CCs
May 21, 2009 Retained 2nd Attorney
May 28th - Filed for Ch 7 (FINALLY!)
9/11/09 - DISCHARGED!!!!
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The only difference it is going to matter that I know of is when you start trying to improve your credit score again, you're going to be showing a lot more late payments and charge offs in your previous history.Originally posted by Dizzy View Post
But when you look at it from my perspective, I don't intend to get back in this same situation, therefore the credit score is not my #1 goal in life.
It's important, but not more important than proper bk planning.All information contained in this post is for informational and amusement purposes only.
Bankruptcy is a process, not an event.......Comment
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Did you contact tri mege to fix your charge offs, or the individual companies?Comment
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