History: I filed BK Ch. 7 in August 2003, and was discharged in October 2003. The accounts that were discharged in BK all read on the credit reports as zero balance, included in bankruptcy. Except........my 2 First USA accounts. I have disputed these over and over, and they report as "charged-off," and with balances. This is hurting my score and ability to obtain credit. Today, I received a letter from Bank One(FUSA) in regards to my last correspondance with them. I will type it into the next post.
Dear xxxxx: As your credit card company, we value your business and want to be completely satisfied with your credit card accounts. That's why we carefully researched your recent inquiry concerning your credit bureau report. After reviewing the information you provided us, the above referenced accounts reflecting, "Charged Off" with balances, is correct. This is accurately reporting your relationship with First USA Bank. At the time you filed banktuptcy, you still had outstanding balances with us. When we received your notice of banktuptcy, we took those balance amounts losses. Therefore, the accounts will show a profit loss with those unpaid balances still reporting. As a result of our investigation, we updated both of your accounts information with Equifax, Experian(formerly TRW) and Trans Union credit services. The accounts will reflect that the accounts information is being disputed by the Consumer. We regret and inconvenience this matter has caused you. If you have any questions, please call the toll-free number noted above. For your convenience, we are available 24 hours a day to assist you. Sincerely, Ruth Maina Credit Bureau Analyst Consumer Dispute Verifications Fax: 1-888-593-8302 ************************************** Aren't they admiting in this letter that once they received my petition for BK, that they charged off my account? I know there is a suit against FUSA for this, but what statutes can I quote to protect me against this erroneous reporting. I do not have a balance on these accounts. They were included in bankruptcy. Thanks for any advice.
hello, I filed bk7 in 4/02 and I just started my credit repair in Jan. 04. What I did was I disputed with all 3 CRA. I sent copies of my schedule and highlighted the certain account. Some will tell you not to send the CRA any of your BK papers but I did and all of my accounts were updated to a $0 Bal and some were even deleted completely. Good luck on your journey.
LOL! I just checked Privacy Guard. FUSA reported my balances to EXP and TU so far. Funny thing..... The balance reported to TU is $1,054,470.00!!!!!!!!!!! I wish they would have given me that much credit. The balance reported to EXP is $10,544.70. That should now be zero since the FSUA accounts were part of my BK 7. Does anyone have ammo for my next call/letter to FUSA. What legal statutes can I cite to back up my position?
Bump...I know how hard this will be with FUSA but any info would be appreciated! Or any update of the lawsuits? Thanks
-Actually, not funny. THIS IS A GREAT SUIT WAITING TO HAPPEN -DISPUTE THE AMOUNTS with the reporting agency then standby to sue -Although BK consumers are "bad credit risks", they MAKE AWESOME PLAINTIFFS
Re: Re: HELP! FUSA letter / reporting issue You must be psychic. I disputed the balance with TU last week. If it comes back verified, what is my next step? I actually disputed the balances on both of my FUSA accounts. I have a feeling they will be verified.
Re: Re: HELP! FUSA letter / reporting issue Is everyone saying the first step is to dispute the charge altogether? Mine should read IIB, but say charge-off, we were just discharged this week and want to pull our reports in a month but acording to PG they already said CO and we files in Jan only 2 months late on our cc and none of them were CO yet. This will be a battle, they are the only ones not saying IIB, Question, secured furniature loan that was not reaffirmed but we just stopped paying to see if they would come and get it, but they put CO on our report, is that correct? I am not sure so just checkin. Thanks
Re: Re: HELP! FUSA letter / reporting issue Well, its kinda silly actually. -If they fail to conduct a reasonable investigation as required by FCRA 623 (b), you can file suit against the furnisher and the reporting agency under that section. -Silly, because what kinda of hard evidence would you need to show a judge that an account with a balance of $1M isnt yours or isnt the right balance? LOL -Read my link below about suing people and collecting
