misunderstood...

[fyi2]

SO
I think I am a little confused

I have read some people note that their credit report says a number of accounts in BK and some listed as "baddies"

I assume the Baddies are collections or late's

I thought once BK discharge then your accounts listed as included in BK without details- good or bad

[lrprn]

I thought once BK discharge then your accounts listed as included in BK without details- good or bad

Accounts that are active when you file and are listed on your creditor list or sold to a collector by the account owner must be listed as IIB (included in bankruptcy) within 60 days of filing.

However, the catch is that any account that was charged off (not sold) or was voluntarily closed by you or involuntarily closed by the creditor BEFORE you filed can keep whatever status the account had when you filed. The account isn't active at filng so its status isn't affected by filing bk.

These are the 'baddie' accounts. Their status can't be challenged because they are historically accurate. Only time and maintaining on-time payments across new and existing accounts that are reported to the credit agencies after filing will eventually overcome them.

[jennordhavn]

The accounts included in BK will still be in the derogatory category on your credit report. They should list a zero balance. The credit report is broken down into satisfactory, derogatory and collections. To me, all of the accounts listed in derogatory and collections are "baddies" even though they have a zero balance. A lot of my collection accounts were removed after the BK, even without disputing them. A few remain, but show a zero balance. My goal is to get them all removed.

[zscfan]

OK, someone please help me understand this--I filed April 22, as of yesterday, Capital One is reporting payments as late. If my Capital One accts were closed involuntarily or charged off before I filed, when will they stop reporting late payments???

Also, is it after the discharge that they must show a zero balance??? They are still currently reporting a balance.

[Flamingo]

If you just filed and are not yet discharged, wait at least 3 months after your discharge to pull your reports to give your creditors a chance to update your reports. Then you go in and clean up. Doing so prior to discharge is a waste of time.

[fyi2]

THank You!