to clarify- My chap 7 was discharged dec. '01. Some of my discharged acct's show up as "discharged in bankruptcy", but some others say "charge-off" or "profit & loss". If "charge-off's" are worse than "BK" then, I guess I'll just follow the dispute procedure to change them to "BK". However, I don't want to send a bunch of "attention CRA! I declared BK!" correspondence if it will hurt my future rebuilding efforts. Any advice or faq-pointing appreciated! brick
Can't answer that question for you. FICO is not black and white, but here's something to think about: If you announce to a CRA that it should show as IIB, then that BK will be stuck on your record for 10 years, because you have basically self-verified. Dispute as not mine, do not recognzize, or "I do not have a CO with Stupid CC company" btw you don't because it was IIB
Thanks, jlynn. As a first step, I will dispute the incorrect CO's as not accurate. Also, I see you use the term IIB; I've looked everywhere for a definition: Is that synonymous with "bankruptcy"? Thanks!
***** Did you try here? http://consumers.creditnet.com/straighttalk/board/showthread.php?s=&postid=398231#post398231
definition of IIB Also, I see you use the term IIB; *****I've looked everywhere for a definition: Is that synonymous with "bankruptcy"? ***** Did you try here? http://consumers.creditnet.com/stra...8231#post398231 have you read the new be threads.? --- Thanks for the links and suggestions, lbrown59. On your advice, I have read (and am continuing to read) the newbie threads; what a great resource. I was not able to find any direct definition for the term "IIB", though. Not even in the creditnet "glossary" thread (which I've copied to my computer for future reference). Any links, hints, or definitions appreciated. thanks for your response- brick
I was asking this same question a couple of weeks ago, and I think I have found the answer. From my recent experience, it looks like a charge off on your account is worse than "included in bankruptcy." I had my BK 7 discharged in October, and started disputing accounts as "not mine." Some got deleted, and my credit score went from 558 to 621 in a matter of weeks. I disputed a few more as "not mine," and they came back verified. Now, some of them report as "paid charge off." I check my score, and my score has dropped to 587. The accounts are listed now as open, paid charge offs, with zero balances. Again, I don't want to verfiy my BK7, but the paid charge off remarks are bringing down the score, whereas the IIB/closed account remarks had my score above 600. I'm going to keep disputing. They'll eventually get deleted or reported correctly.
Included In Bk. Don't do it as "not accurate". The insinuation is that it IS yours, just not accurate. Follow Jlynn - to the letter! .
