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edelweiss245
Joined: 12 Jan 2009
edelweiss245's page
Posts: 1
39 Magic Points
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Subject: Balance after bankruptcy
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Mon Jan 12, 2009 4:44 am
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I filed a bankruptcy in 2004 and was discharged in 2005. My credit report still shows a balance amount but the comment says 'included in bankruptcy'.
I believe the 'balance amount' should be $0.00 or 'not available' Probably the 'payment amount' should be the same as well.
Is that correct?
After the bankruptcy what should I look for in my credit report to make sure that everything is filed correctly?
I tried to find this information on the net but wasn't very successful.
If you have any advice that would be great.
Thank you. |
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Mary
Joined: 06 Jul 2006
Mary's page
Posts: 730
17417 Magic Points
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Mon Jan 12, 2009 11:22 am
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Hi Edelweiss
If a debt is covered under bankruptcy, it should show as "included in bankruptcy" and $0 balance in your credit report. If it is not so, you can send a letter to the credit bureaus by certified mail asking them to change the status to $0 balance. If they do not agree to do so, simply file a complaint against the credit bureaus to the Federal Trade Commission who regulates these bureaus. You can even file a complaint against the credit bureaus with the State AGs office.
_________________
Where there's a will, there's a way !! |
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scott
Joined: 28 Jun 2006
scott's page
Posts: 462
10934 Magic Points
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Mon Jan 12, 2009 11:48 am
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Whether you file a Chapter 13 or a Chapter 7 bankruptcy, if it is discharged, it should show $0 balance in your credit report and will list as "included in bankrupcy". However, the listing will be in your report for seven years. You can send a copy of the papers which prove that the debts have been discharged, and send it to the three credit reporting agencies.
_________________
SCOTT
Use your credit account responsibly and enjoy a debt free life. |
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fireyone
Joined: 26 Feb 2008
fireyone's page
Posts: 4493
8662 Magic Points
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Mon Jan 12, 2009 5:06 pm
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| I filed many years ago and know when I did my balance showed $0. I would do as Mary suggested and you should be able to straighten this out. Just always remember by sending a letter certified you will have proof that you have made your request and if you have to call the state AG office or FTC it will help you have this to show. |
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Guest
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Tue Jan 13, 2009 3:02 pm
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| Thank you all for the advice. I started working on it and it is a friggin' nightmare. I can't believe how badly credit companies are handling their files. |
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fireyone
Joined: 26 Feb 2008
fireyone's page
Posts: 4493
8662 Magic Points
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Tue Jan 13, 2009 3:16 pm
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| Just working on it alone is enough to give someone a headache. You are right about credit card companies and their files. It is even a bigger nightmare when they sell off your debt but you will not have to worry about that because they can not do that with a bankruptsy. |
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Doc
Joined: 02 Dec 2008
Doc's page
Posts: 203
Location: McKinney, TX
954 Magic Points
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Wed Jan 14, 2009 11:46 am
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Just another footnote.....
If there exist balances on truly discharged debts, send the bureaus a request to correct/delete them.
If that doesn't work... SUE THEM! Their failure to correct the listings is HUGELY actionable, and ANY decent consumer law atty can settle that for you in a matter of weeks, and put quite a chunk of change in your pocket for you!!!
_________________
-Doc Compton, Omega Credit Repair
I provide info for free, & all I ask is that you visit my site... I don't wanna sell you anything, I just wanna increase my traffic, and push my site up in the search engine rankings...
http://www.omegacreditrepair.com |
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fireyone
Joined: 26 Feb 2008
fireyone's page
Posts: 4493
8662 Magic Points
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Wed Jan 14, 2009 1:40 pm
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| Gee Doc, you are a deep well of information. So this is a good defence when trying to get the credit bureaus to correct your report. Sometimes I think a lot of atty's do not want to deal with credit card or bureau issues. I seen a few post about trying to get them to help. Is this true or will most atty's seeing that a person has proof take on the credit bureaus? |
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