Post Bankruptcy Credit Reporting

loriac · ‎03-27-2014

I have a couple questions about how CRA 's and the information furnishers are supposed to report information on a credit report after a bankruptcy has been discharged. Two of the bureaus basically eliminated account histories for any that was included in bankruptcy and state "discharged in bankruptcy " zero balance & accounts closed , with the filing date of bankruptcy. Which is fine, I guess however the third bureau , experian , has the accounts all reported differently . Three of them are reporting charge off, and all are showing a delinquent history from the month prior to the bankruptcy filing 11/13. I wasn't delinquent until a month prior to filing . So they look like they are now 90 , 120 days late. Plus the bankruptcy remarks . I was discharged 3/6/14. I am wondering are there rules for whats reported and when ? I read online that all collections was supposed to stop at the filing. Any information is greatly appreciated. I feel like it is fair to report the bankruptcy but isn't it double the penalty to continue to report this kind of information ?

Thank you

gdale6 · ‎03-27-2014

@loriac wrote:
I have a couple questions about how CRA 's and the information furnishers are supposed to report information on a credit report after a bankruptcy has been discharged. Two of the bureaus basically eliminated account histories for any that was included in bankruptcy and state "discharged in bankruptcy " zero balance & accounts closed , with the filing date of bankruptcy. Which is fine, I guess however the third bureau , experian , has the accounts all reported differently . Three of them are reporting charge off, and all are showing a delinquent history from the month prior to the bankruptcy filing 11/13. I wasn't delinquent until a month prior to filing . So they look like they are now 90 , 120 days late. Plus the bankruptcy remarks . I was discharged 3/6/14. I am wondering are there rules for whats reported and when ? I read online that all collections was supposed to stop at the filing. Any information is greatly appreciated. I feel like it is fair to report the bankruptcy but isn't it double the penalty to continue to report this kind of information ?
Thank you

They can report the history prior to the month the BK was filed, after BK it must show IIB, 0 balance due, if it doesnt dispute it.

loriac · ‎03-27-2014

Ok , thanks for the info. There doesnt appear to clear cut " rules" . So am I better off if the history is reported up to the bankruptcy since I wasn't late on any account until then ? or does the good account history up to the bankruptcy not matter once the account was included in the bankruptcy ? Some of these are several years old and have long good history or does only the last 24 really matter ? If so , I might be better off if Experian removed all the account history , as Transunion and Equifax did as soon as the discharge reported. Sorry for all questions, just trying to find the lesser of the two evils. I am not sure what my scores are now , the fico score is 616 without any of the bankruptcy accounts history. Just the bankruptcy notations. My creditkarma experian was 668 even with all the lates/CO s reported incorrectly and BK notated, I discharged 3/06/14 . That's why I'm wondering which is worse reguarding the account histories. I applied for and approved for Capital One with a nice limit unsecured earlier this week, they pulled Experian & Transunion. I was kind of surprised.

Thanks for the help.