Here are 2 FTC Opinions I found. Maybe it could help someone. http://www.ftc.gov/os/statutes/fcra/lovern51.htm http://www.ftc.gov/os/statutes/fcra/mccorkel.htm
Maybe you were charged off too quick.... http://www.federalreserve.gov/boarddocs/srletters/1999/sr9905a1.pdf I filed CH7 BK in 12/2003. and one creditcard company shows a charge-off in 11/2003. On 11/2003 I would have been 88 days delinquent. According to this sheet, My account would have only been classified as "SUBSTANDARD" at 90 days. If I am reading right, they can charge off only at the 120 day and above period.
the quicker they charge it off, the quicker it falls of your report. I wouldn't complain about too quick. I admit I didn't go read the articles yet, though. Am I just missing a legal twist somewhere here?
Oops. I am reading the article now and realize I spoke too quickly. Sorry. I am going to look into this further. It could help me. Thank you for your thoughtfulness in supplying this great info!
The credit card company is trying to say they charged off my account before I filed CH7 BK in 12/2003. The first credit reports I pulled show the charge-off in 2/2004....during the stay. If I am reading those time limits right, then they could not get a certified charge off under 90 days delinquent by the examiners....and 90 days puts it after the BK filing. In that case, it should be reported as "Included In Bankruptcy" and not a charge off. Note: They mention retail loans and credit and in the same article, retail open-end and closed-end includes consumer loans and credit cards.
My wife has several accounts showing charge-off that should be BK . I disputed them as I figure it would be better to be shown BK than charged off . We both have 1 account that the OC has 2 accounts listed for the one account . 1 account shows BK , the other shows 120 past due . I disputed it a few times woth all 3 and the OC keeps verifying it . It's next on my hit list , I think I'll pay the local office a visit to try and fix the problem .
****************************************************** NEW MEMBERS READ THIS. http://consumers.creditnet.com/straighttalk/board/showthread.php?s=&postid=410243#post410243 ******************************************************* >I disputed it a few times with all 3 and the OC keeps verifying it.It will never go away this way.All the Oc has to do is verify it. ********************************************************************* It makes no difference if the OC is right or wrong.
One of them that went "Charge-Off " is now changed to BK 7 but I only had one account with them and they are showing 2 BK accounts with them . I guess I will have to send a letter to the OC on that one to please fix it . The other that is showing 120 past due has not changed yet . I have disputes out the wazoo going on right now and most have seemed to do well for me . Of course most are errors that should have been fixed long ago . My goal is to get me and my wife into the 700 club by next February . Her TU is hovering around 673 with 2 collections (both should have been gone from BK ) and I have them in dispute . My main stabbing is my mortgage company showing my account as seriously paid late through last April (2003) . They have a few more weeks to do something or I file . Ive requested the "how did you verify" info from experian and I will do the same in the next 2 weeks when equifax gets done with thier investigation . I included payment history from my mortgage to experian and explaining how the address listed for another state was not mine but that of another customer of my mortgage company . That customer has my same first and last name , different middle . I guess I could be worse off , my collections total $400 and some odd so *if* I have to pay them in order to gain a mortgage it won't be so bad . In the next 3 weeks or so everything should be better ... I hope .
