Must a creditor report a $0 balance after BK7? Is there any kind of documentation that states this exactly? I have creditors saying they can continue to report a balance even though my BK was discharged over a year ago. What proof is out there that they CANNOT do this? Thanks.
They are being absurd and abusive. Think about it. If you owe ZERO $$, then they must report $0. what they report must be 100% accurate. Just let the CRA take care of it. Even monster EQUIFAX took care of the $0 balance on first try. It's like it's a no-brainer. I have a BK7 and all mine were $0, 'cept one repo. One little verify to the CRA got that one changed in a quick hurry. Reminder--we NEVER mail our BK papers to CRA. NEVER. As an off-topic aside, I was reading somewhere you can dispute TL for being incorrect in ANY way. That means if they reported assets/liabilities as $0 on the public record TL you can dispute it. i hope this helps.
"Reminder--we NEVER mail our BK papers to CRA. NEVER" -WHY? they are available at the courthouse -Reporting a zero balance after a BK seems simple enough. -BUT, are they reporting an outstanding balance which was DISCHARGED in BK? -Or are they just reporting an outstanding balance? - It can be argued that the balance is still "outstanding" even though it was discharged. - I AM NOT WELL VERSED IN BK SO THIS IS JUST OPINION
Because once you mail your creditors' matrix to the CRA's you have pretty much cemented that BK to your report the balance is not outstanding-- the balance, once discharged, no longer exists, and can never be collected.
Re: Re: zero balance question "Because once you mail your creditors' matrix to the CRA's you have pretty much cemented that BK to your report" -HOW DO YOU THINK THEY GET THE INFO IN THE FIRST PLACE AND HOW THEY VERIFY IT?? "the balance is not outstanding-- the balance, once discharged, no longer exists, and can never be collected." -The balance IS STILL OUTSTANDING, THEY NEVER GOT IT. YES BK RELEIVES THE CONSUMER, BUT THE CREDITOR IS STILL OUT THE $, HENCE OUTSTANDING. -The creditor has every right to report their loss. WHAT IS "INCLUDED IN BK" mean then??
I disupted as "IIB" before I came to this board. Now what? thanks for your reply. I just need to know HOW to get it done now.
Because now you have self- verified the BK with the CRA, and have lost all chance to get the BK removed for other reasons!
-So it came back verified AS NOT BEING INCLUDED IN BK, AND IN FACT IT WAS??? -Sounds to me that they did not conduct a "reasonable investigation" as required by FCRA 623 (b). -THIS IS YOUR CAUSE OF ACTION. It is up to you to decide how to perue the action -Additionally, A CONSUMER IS NOT A FURNISHER OF INFORMATION! YOU CANNOT SOMEHOW "SELF VERIFY" ANYTHING! -And reporting agencies DO NOT KEEP PAPER DOCUMENTS FROM CONSUMERS.
Re: Re: Re: zero balance question The place the BK from public records. They verify the existence of the BK thru whichever court is reporting it. The furnishers are responsible for reporting and verifying the individual tradelines. They can report the amount charged off, but the balance due is -0-
Re: Re: Re: zero balance question "The place the BK from public records. They verify the existence of the BK thru whichever court is reporting it. The furnishers are responsible for reporting and verifying the individual tradelines. " -BINGO! -So using the logic of "dont send the papers cause it "self verifies" begs the question IF you send the papers and self verify, then send a dispute to the CRA, does the CRA contact YOU, AS THE FURNISHER IF INFO, to verify the BK? And if so, couldnt you wait 30 days and NOT REPLY to the CRA, thus causing them to delete it? LOL
It came back verified with a new balance date that was after the BK. I called the creditor and he said they would continue to report it as a charge off because it was a charge off and that a balance still did exist although they would never attempt to collect on it. I told him I thought they HAD to report a zero balance because it was included in BK and he said they could report the balance because it was accurate. I am totally confused!!! I thought that was the purpose of the BK. Their argument is that is was charged off before BK. Do I dispute again? balance incorrect??? what about the date? is that reaging?
Re: Re: Re: Re: zero balance question But if the CRA cannot get the correct information from the court (due to technical reasons, name changes, address changes, etc). then they might delete the entry. If however they have a copy of the BK that you sent them, well you've just hung yourself. That is the reason for never sending the papers to the CRA! There are people on this board who have succeeded in having BK's removed from their reports because the information being reported was inaccurate. If they had sent the papers to the CRA, their BK's would still be there!
Re: Re: zero balance question If this account was IIB then it has been DISCHARGED - no balance exists ! ! !
Re: Re: zero balance question But HOW do I do it????? BTW, I did not send my BK papers to CRAs. Thanks for your help.
Re: Re: zero balance question Please tell me HOW. toobizzy ============= How Now Brown Cow ? ><- <>- ><- <> ~~~ ><- <>- ><- <> ><- <>- ><- <> ~~~ ><- <>- ><- <>
Do this HOW Hiding90 would do it. Be VERY specific. Deny the balance as being INCORRECT. When you focus their attention directly on the little part you want corrected it helps you to get what you want. Yes, Bizz, we know YOU didn't send copies of the BK papers. That was just an aside reminder for the 100s of others who lurk here. I hope this helps.
