We filed Chapter 13 bk in August of 1999, it was discharged on April 2003. What we did is refinance our house to pay off the bk so we could get it discharged and get on with it. I am now in the process of studying and trying to figure out how to get our credit reports cleaned up. I've been here before several months ago but gave up because the task just seems so overwhelming. My big problem is with debts that were sold or turned over to CAs..one being Sherman Aquisitions. I think they had 2 or 3 of the accounts listed in the bk. Another was Chrysler Financial. These debts were paid through the bk. Does a nutcase letter work in situations such as this? I also have accounts listed as charged off, listed as included in bankruptcy, etc. All of my bad accounts were included in the bankruptcy..and some, comerica bank in particular is still reporting a past due balance. Can they do this when this account was included in the bk and is now paid? And can someone give me some idea where to start?? daisy
Daisy, first of all, keep in mind that if you want to eventually get all of these deleted (including the bk) prior to the allowed reporting time (7 years), you should NOT send your bk docs to anyone. Once they have them, you are not able to get them back. They will keep them and use them against you down the road. I would begin by disputing the ones with obvious incorrect info listed on your reports - dispute them by saying something like "I have never had an account with bank xyz with a balance of $xxxx.00 - that's for an incorrect balance - the balance should read 0. Don't lie about anything, but don't give them any info. If you dispute "incorrect status" you have tacitly implied that you know about the account (therefore it is your account). Be careful. Some will get changed, some deleted, some will not change at all. Wait for the dust to settle, and then start again - dispute inaccuracies each time (CRA's and creditors make a lot of mistakes, you can almost always find something you can dispute without lying about anything). Don't send anything at all. Nothing. Make the CRA's do their job. (That's why they don't like us - we won't do their work for free). If you feel that you should serve your full "sentence" and want to give up your right to dispute to attempt deletion, then feel free to send the CRA's your bk schedule. All your accounts will be marked "included in bk" and will stay at least the full 7 years, along with the bk itself. I don't recommend doing that - 7 years is a long time - too long. If it was 3 years, I think a lot of us could accept it, but in 7 years, your life changes a LOT and you may live to regret giving your bk docs to companies who profit by your misfortune, and have no desire to help you or even to see you recover on your own. Everyone makes more money when you have bad credit.
NO!! I don't want everything to stay on there for 7 years. I'm going to try to get our stuff cleaned up but man..what a job it's going to be. There are sooo many accounts! This whole thing has been a pain in the ass. I guess my first plan of attack is to get new reports for each of us (dh and I) and get busy studying them to see what's what. I haven't looked at them in about 6 months. Ok..when is it applicable to use a goodwill adjustment letter and when is it a good idea to use a nutcase letter? And how do you get a bk removed from your cr before the 7 yrs is up? Everything I've read says that there isn't any way to remove a bk. daisy
Goodwill adjusment letter is used when you have an ongoing account with a creditor - so, you are a current customer, but you have derogs (lates, or an old bad account from the past). Since you are a current GOOD customer, you have grounds to ask for a goodwill adjustment. With bk'd accounts, after you pay the balance of what you owe them, it is possible to use goodwill letter to get accounts reported as paid as agreed, or at least deleted, with goodwill adjustment - because you paid them when you didn't have to. Nutcase letter is used when all other options have failed. Neither one of these letters is appropriate for your situation. If I were you I would go through a couple of rounds of straight disputes with the CRA's only. Don't go to OC's for deletions with your bk so fresh. They have not forgotten about you yet. They get mad when they are included in a bk. They want to be mean to you, not help you. You have to wait a while, and let the bk fade into the past. Not everyone gets bk's deleted, but it can be done, if you haven't screwed up along the way by verifying it yourself (Sending bk docs to the CRA's). You need to wait, though, it's too soon. Work on the accounts now. The bk later.
Companies profit by your misfortune, and have no desire to help you or even to see you recover on your own. 1*Everyone makes more money when you have bad credit. ============================== 1*Even artificial bad credit. And that's where CRAs and FICO comes in to create it.
What have you read and where have you been reading it may I ask? That's what they want consumers to think about BK. Who do you think gains by claiming BK can't be removed????
Different boards. Most "experts" say that you just have to wait it out when you have a bk on your cr. I'm just learning differently by reading this board. Frankly, I'm amazed at what can be done. I was telling my dh last night about what I've read so far and what some of you have accomplished..he's a bit skeptical but I'm hoping to prove him wrong. Ok now that I know a bk can be removed, can I ask how? daisy
Well..it's been over 4 years since we filed bk so it really isn't so fresh. But I'm not going to dive in head first..I'm going to read, read, read, and then order my crs and get started. Thanks. daisy
1*he's a bit skeptical but I'm hoping to prove him wrong. daisy1961 ============================ 1*Who do you think benefits by this???? It's been said my people perish from a lack of knowledge. The consumers finances are doing the same thing for the same reason. """"""""""""""""""""""""""""""""""
