Rebuild Credit After Bk Read This!!

Jason -So let's get the sequence you found to be effective straight: One, call to dispute items that are supposed to be included in bk. Two, CRA sends you dispute forms. Return them CRRR.

What I am not clear on is the initial phone call. Do you give the CRA's your bk case number? When you send the dispute letters back, I assume you list the accts that should have been included bk. Did you send the CRA's a copy of your discharge? I was just going to edit a one of "Dispute" example form letters, list the items that were to be included in bk, and send a copy of my discharge paper. I was not going to call the CRA's at all. If there is an easier way to accomplish this without sending CRA's copies of my bk discharge I'm interested.

 

Cyana, the determining factor will be a combo of FICO/Utilization. In this case, it is higher/lower. If you have never had a providian card before, then you'll probably start between 500-1000 initial CL. For example, my wife sent in a pre-approved plat offer (Up to 7500 and only got initial 700CL.

 

It sounds like you have had done quite well, But before you call them are send them anything you should dispute the ones that don't say included in bk as (not mine). I have done this and had a number of them deleted all together. I would think this would be better then having it say included in bk. When you call them all your doing is verifying that the debt is in fact yours. This does take longer but it will pay in the long run, And one more thing if you get all the negatives off you can go ahead and try to get rid of the bk all together. Someone can tell me if im wrong....

 

handr - first of all I agree that the "normal advice" is never to "validate" your debt by sending any BK paperwork of any type. Just how effective did you find the strategy of disputing the items not listed as "included in bk" as "not mine" to be? I have already been put through h*** by a nasty divorce which caused my bk (my ex had our car repo-ed, we were being sued by the owners of the complex in which I *allegedly* co-signed a "rental agreement" - ex abandoned the business in early April02 to go on on a two week European honeymoon, [remarried late March 02], is being supported by his wife, i.e. not working, refused to divide the marital debt that was mostly his) and I'm just tired of doing battle. I don't have the energy to go round and round with CRA's disputing as "not mind"). Not a criticism of your strategy, though. Grin.

I need to sell my house when my son graduates from HS next June; since it will less than two years post bk, unless I can do an FHA loan (sometimes they do loans under certain circumstances less than two years after bk) I will have to go through a subprime lender than convert the loan to FHA/conventional when the two years has passed. My goal was just to find the most effective strategy of moving the items that were not listed in my bk to "included in bk" which will have potential in improving my FICO scores. My current scores are (from most to least "incorrect entries" as of 2/7/03) are EQ 584 (FICO), TU 631 (FICO) and EXP (FAKO?) 633. I expected much worse.

Brad J - I applied on-line today for the Providian Platinum Visa. I should get something by email or by snail mail in 1-2 weeks. I received my AP Bank application in the mail yesterday and will start filling out tomorrow. Will have to have a copy made of my Disability income stubs though to send with the app.

 

Jason 1971:

If you ever want to do credit repair, DO NOT tell them something should be "incl in BK" This admits to your bankruptcy, and will make it extremely difficult to dispute off, as as well as any BK tradelines. Especially DO NOT send them any supporting evidence of your bankruptcy. BIG mistake.

 

jheitert

What would you do then (re: accounts not listed as "included in bk" - apparently a hot issue from the number of recents posts on the subject), keeping in mind I my goal is obtaining the best possible rate when I apply for a new mortgage in less than two years post bk? So I don't have time to play with a lot of different strategies. I've heard FHA loans sometimes can be obtained less than two years post bk and are not score driven; however, I want the best possible score in case I have to go subprime first, then convert to conventional.

I have to be out of my house next June (terms of divorce decree). I know one quick way is disputing the accounts that were not included in the bk to included in bk (bk while still a bad tradeline looks better than a variation such as "charge off or "paid collection). These are the accounts that are showing up on my recent credit reports, two months post bk, and are accounts that never went to "charge off" and I never had a "paid collection" - never paid any creditor a dime. And I am applying for fresh credit so I expect my scores to drop and then go back up as I start paying the new credit card bills.

 

I would also strongly advise AGAINST doing this first. The first course of action I would think would be to dispute the tradeline as NOT MINE. You may be able to get it deleted all together.

 

Jason,

Thanks for clarifying your point. I see your line of thinking and obvioulsy you've had success doing it.

In my own situation, I recently put through 5 disputes on TU and EX as NOT MINE, if those come back verified, do you think I'd be able to then go with your method of saying that they should be included in the BK or will they refuse to reinvestigate?

 

NEVER, EVER admit that a derogatory account is yours. If you do admit it, you are stuck with it. This is nothing personal against Jason, but he has been here 1 day and you guys have no idea who he is. He may be a collection agent trying to screw you up. Telling people who have filed bk to admit to the accts and to ask that they be listed as included in bk is the worst advice you can follow.

 

Re: Re: Rebuild Credit After Bk Read This!!

Touchdown, if you dispute them as
"should be included in bk" you can forget about ever getting them off. They see you have a bk by the public record. Even if the creditor doesn't respond, you have verified it, it isn't going to go away.

Just an FYI - I successfully disputed away every single negative listing and the bk from each of my reports. It can definitely be done. I now have 3 perfect reports with scores in the 700's. Never would have happened if I had admitted they were mine. That just defies logic.

 

Let me add my 20 cents. Never verify anything for the CRA's, the creditors, or anyone. Never ever ever. Let me repeat

DO NOT VERIFY FOR THEM

If you don't want to say "not mine" say it this way, "I do not have an account with Big Bad CC Co with a balance of $xxx.00."

You don't.

Jason may have a score of 700+, but he cannot get a prime card because he has a bk showing. You can get them off. Not immediately, but you can eventually. And when you do, with NO DEROGS you can get prime cards.

Don't let your impatience take you down the wrong path, because you will shortchange yourself in the long run. It hard, it's a fight, it is not for sissies, but it can be done, and there are plenty of us here who have done it.

 

Jason, I'm afraid I'm with LKH and breeze on this one. Search the site, and you'll find more evidence that supports that position. Good luck to you!

Doc

 

Jason, I wasn't saying you are a ca. What I was pointing out was that you have not been here yet 1 week and no one knows who you are or what your purpose is. There have been many ca trolls over the past several months purposely giving misinformation. That was my point.

Again, as for verifying for the cra's - DON'T DO IT!!

 

Jason, Read nineflies post below yours.

 

Re: Re: Rebuild Credit After Bk Read This!!

Exactly. And a Fico without all the "included in bk" accts is going to be much higher than one with all the "included in bk" acct.