I have some incorrectly reported items on my credit report. they were included in my discharge, but show up as 120+ days past due. I called about getting this resolved, but was curious what was actually worse. having them show up as included in bankruptcy, or the late reporting?? Just curious
Overall, a bankruptcy is worse on your credit report. But it also depends upon many items, how long ago was BK? Are you trying to apply for a mortgage or other credit? For credit scoring a BK is among the worst items, and has a top impact. But, if it's been a while, the effect starts to reduce graduallly. If you're applying for a mortgage, then showing an open debt looks very bad. Is the actual BK filing showing on your credit reports?
Bankruptcies stay for 10 years as the public record of the bankruptcy. The accounts that were included in BK still fall off after seven years.
If the accounts were included, you will want to elect to try and get them to report as such. A simple account included notation is better than a 120-days past due specifically if it reports a balance. Getting the status changed, and balance zeroed, will take it out of the realm of delinquenices.
My discharge was 2 years ago. I saw that i had 3-4 accounts showing as 120 days past due. I think I was actually able to get them to repair these entries the other day... ill wait and see them screw it up again. Please see my other question regarding my car loan that my lawyer screwed me out of.... ill be posting it in a few minutes.
