I have been reviewing the board and I have a couple of questions. Scores: EQ 625 TU 650 EX 615 BK7 form 1995 I have a Mortgage - Chase Mortgage 8% Auto Loan 6.75% Providian 15.99% $4000 Sears alot $1200 1. I have several accounts listing as included in BK. Are each of these considered negs and if so will it help me when they are removed? 2. I also have a collection from Credit Management(cable bill) paid from 1998 and a a few late pays from Dilliards Dept store(being removed as we speak). Anyone have any experiance with Credit Management Inc? 3. Considering my BK7 from 1995 what kind of scores will I need to get prime cards(CitiBank, Discover, etc)? I know this is long but any help would be greatly appreciated. Regards, Robert
I have posted here recently also asking about this same as your question and I didn't get any response. Maybe here in the near future I'll be able to help answer some of these questions in reference to credit repair and bankruptcy as I am going through the same thing. However, I will post a website here that talks about this subject of how it should be listed. I can't think that anything other than complete deletion would be best to have your scores higher. But if it is listed, per the link I am providing, it should be "included in bankruptcy". I have yet to locate anything else that came close to explaining this. I would be interested to find out what other bk people, who have successfully rebuilt there credit, have listed on their report for the debts discharged in the bk. In the meantime here is this post. http://www.bayhouse.com/credit-forum/showthread.php?s=&threadid=358&highlight=bankrupt*
I don't know the answer for sure, but from what I've read, all accounts listed as "included in bk" are, essentially, unrated -- meaning it's as if they don't exist and they don't affect your score one way or the other (the public record listing of bk is where you supposedly take the hit, not on the individual accounts themselves). A charge-off is a negative that *can* pull down your score, which is why it's important that all accounts discharged in bk be listed as such. Again, I don't know how accurate this info is, but I've read it in several places. I'd like to know for sure myself.
OK. So I have an mortgage with Chase listed as "included in bancruptcy". It wasn't. Of course it was listed in the bancruptcy but I kept the mortgage, made all payments on time, and once the CH7 was finalized, I refinanced and paid it off two months later. I could probably get it deleted for inaccuracy but it's a good account "paid, never late" so I just want to move it over to the "good" column. I've called a couple of times but I keep getting the "it was listed in the bancruptcy so we have to report it as such, but maybe the disputes section could help you, unfortunately I can't transfer you to them or give you their #, you'll just have to fax it in...." response. Anybody got any ideas? Dancer
Did you sign a reaffirmation agreement with Chase? If so then maybe you can get Chase to change status based on the re-affirmation. If you can't get Chase or CRA to change listing I think you might do better disputing hoping for deletion because it is still showing up on the negative side even though it is paid, never late. Besides if its deleted, you said you refinanced so you must have another listing showing good payments on that mortgage, right? You know this is what gets me. When you first file a bk, the public record shows that you filed. Then once the discharge is issued from the court, the public record of the bk is updated to show discharged. Why can't your accounts show the latest status. They were discharged or in the case of CHASE re-affirmed.
Yes, I have a new mortgage (VA Streamline refinance- no credit check :~) ). The problem is, The company that did the refi sold it after 1 month and it's so new that the new company hasn't begun reporting. Plus, on my CR it looks like I lost the house because it says "included in bancruptcy". NOT a good thing for potential lenders to see. Dancer
