How long can these score killers remain on your credit reports?

[catleg]

One thing I find strange is that Experian is the "odd duck" that can still report delinquent payment history of accounts discharged in Chapter 7 bankruptcy. This is contrary to Equifax and Transunion. For instance, even after I initiated a dispute about "charged off accounts" showing on my credit report after I filed bankruptcy, they refused to delete the payment history. My credit score could be 700+ but Experian has poisoned it for 7 years.

I agree with you. Some creditors e,g, discover have deleted all history. Most have not. In fact many report derogatory history after my bk date, and attempts to correct this are futile.

[df04527]

Turnthepage - are u looking at the actual bureau credit reports or are you looking at a report from a service you've signed up with?

Catleg - reporting late payments after the BK date is not allowed but i will say that it is a grey area if it is on a debt that has been re-affirmed, but mostly it is illegal.

If you would like me to take a look at the letters your sending i may be able to assist.

[TurnThePage]

Turnthepage - are u looking at the actual bureau credit reports or are you looking at a report from a service you've signed up with?

Yes to both, including the free credit report allowed annually. Experian is allowed to report a past account's "delinquent payment history." For instance, I initiated a dispute regarding American Express, a creditor who even got the charge off date wrong. The credit bureau contacted Amex with my letter, Amex "verified" that it was correct, case closed.

Catleg - reporting late payments after the BK date is not allowed but i will say that it is a grey area if it is on a debt that has been re-affirmed, but mostly it is illegal.

The way Experian gets around this is to also list the debt as "discharged in Chapter 7 bankruptcy" with a payment history.

[andy158]

I personally know since filing, all three of my scores just jumped, one is now up from 568 to 636......do I care.....absolutely not. With the exception of a car loan down the road (maybe), I will never have cards again. Cash only!

I know my credit score has gotten better in the last two years. We changed car insurance companies because of addition of a young driver and got a better rate because of our "good" credit standing. Go figure!

The credit score does not mean diddly to us. We will never have another piece of plastic other than debit cards which we currently use. As far a buying a new car, never going to happen again. Too many good used cars out there at prices we can "save" for.

Just bought a 1996 Ford Ranger for youngest son for $800. Needed minor mechanical repairs (timing belt was broken, bad brakes and bad battery) the privious owner did not want to spend money on. Repaired it for around $300 and now have a very nice "older" vehicle.

[IamOld]

I agree Andy - once I'm on the other side of this FICO can go to hell (forgive me) where it belongs.

The only thing is...and I intend and hope and have to keep my car for a good few more years...when it is time for a new one, it may be a new reasonably priced fuel efficient car.

I know my credit score has gotten better in the last two years. We changed car insurance companies because of addition of a young driver and got a better rate because of our "good" credit standing. Go figure!

The credit score does not mean diddly to us. We will never have another piece of plastic other than debit cards which we currently use. As far a buying a new car, never going to happen again. Too many good used cars out there at prices we can "save" for.

Just bought a 1996 Ford Ranger for youngest son for $800. Needed minor mechanical repairs (timing belt was broken, bad brakes and bad battery) the privious owner did not want to spend money on. Repaired it for around $300 and now have a very nice "older" vehicle.

[StylinGirl]

Crummy late payment

I have one petty little card that I was a day late on back in 2008 and it is in "Negative" status and says it will be removed in 2015. How is this economy ever supposed to get better when a hard working bill-paying gal like myself that was one day late (oversight on my calendar-ugh) THREE YEARS AGO has a ding in her credit making it impossible to move forward??? REALLY tired of the ridiculous way that we allow ourselves to be ruled by the credit bureaus.

[Flamingo]

I have one petty little card that I was a day late on back in 2008 and it is in "Negative" status and says it will be removed in 2015. How is this economy ever supposed to get better when a hard working bill-paying gal like myself that was one day late (oversight on my calendar-ugh) THREE YEARS AGO has a ding in her credit making it impossible to move forward??? REALLY tired of the ridiculous way that we allow ourselves to be ruled by the credit bureaus.

I would certainly contact them and ask them to remove it if you were only "one" day late. Usually most creditors will forgive one late payment that is a day or two late and the cardholder otherwise is in good standing and never had any previous late payments. I would call and get your matter reviewed and have that revised if what you are describing as to your situation is correct and there are no other issues to keep that account negative.

[pushed]

So much worrying over scores. Most of us here are, or have filed BK, wasn't our credit and scores what got us the high card limits in the first place?

With the exception of a car loan down the road (maybe), I will never have cards again. Cash only!

First, thank you to the OP for posting this article.

I originally joined bkforum several years ago when I had my first encounter with a CC provider that I expected to result in legal action. The information I found here helped me tremendously, and by following that advice, I was able to delay the action by almost three years at very little cost. The reading I had done back then also provided me with three years of peace of mind since I knew exactly where to find advice for the next segment, whenever it was to begin. The timing was out of my hands so I simply put it out of my mind. So to all of you kind people who have gone before me, thank you for assisting others who are several steps behind you.

I will, out of necessity, be more active in the coming weeks and months. And as I learn by going through the process, I hope to post questions and observations that others who come after me can follow as they arrive at this forum, scared and anxious.


sunshinepa - Like many others, you have decided not to use credit cards in the future. Unfortunately, if I ever do return to work again, I will absolutely need to use credit cards as my work takes me to other countries for weeks or months at a time, often requiring a quick change in plans, paying for an airline ticket at the ticket counter in another country and then the usual hotel, meals and transportation in the next country. I am certain that I will be asking advice about this in the near future as I read through the accounts of what others have done.

pushed