Personal Finance

How the credit file should look like after been discharged?

  • Last Updated:
  • Aug 23rd, 2020 9:26 pm
[OP]
Newbie
Oct 18, 2018
18 posts
4 upvotes

How the credit file should look like after been discharged?

As I'm trying to clean up my credit file from errors, gods knows that there is tone of them,
I was discharged from bankruptcy more than 2 years ago, and i still see in my credit report lot's of stuff that i think should not be there,
comment like:

-60 days late payment
-Missed a payment
- or the balance still showing beside a debt that was included in the bankruptcy

These comments are added on a monthly basis besides debts included in the bankruptcy that I've been discharged from 2 years ago, for instance, My latest report from Equifax and Transunion states that I have 1 missed payment for last July for Rogers and Capital 1 lol... even though i've been discharged from both debt.

I'm lost ! i need some help please from the experts here, if someone can shed some light, or even recommend a place that specialize in cleaning credit files for people.

Thanks
6 replies
Deal Fanatic
Apr 16, 2007
7858 posts
3120 upvotes
Financial District B…
Batalius wrote: As I'm trying to clean up my credit file from errors, gods knows that there is tone of them,
I was discharged from bankruptcy almost 2 years ago, and i still see in my credit report lot's of stuff that i think should not be there,
comment like:

-60 days late payment
-Missed a payment
- or the balance still showing beside a debt that was included in the bankruptcy

These comments are added on a monthly basis besides debts included in the bankruptcy that I've been discharged from 2 years ago, for instance, My latest report from Equifax and Transunion states that I have 1 missed payment for last July for Rogers and Capital 1 lol....event hough i've been released from these debt 2 years ago.

I'm lost ! i need some help please from the experts here, if someone can shed some light,
When you declare bankruptcy all your credit tradelines included in the bankruptcy become frozen in their state.
You could of had a couple accounts that are R9 and in collections and had a couple that were R3, R4 or R5 and not yet charged off. They all become a part of the bankruptcy and any and all notations of default remain on the tradeline.
After or before your discharge the creditor will add notations that the account was included in the bankruptcy.
The defaulted amounts on all accounts all remain intact and should continue to report those amounts.
A bankruptcy filing does not automatically return all accounts to a zero balance.

All tradlines included in bankruptcy will continue to report for 6 years after discharge.
Last edited by mikeymike1 on Aug 23rd, 2020 6:27 pm, edited 1 time in total.
----------------------------Licensed Credit Bureau member, S1, FI Automotive, CCP forums most banned = x 13 and counting, guess who that is?... stomped to the curb once again
[OP]
Newbie
Oct 18, 2018
18 posts
4 upvotes
mikeymike1 wrote: When you declare bankruptcy all your credit tradelines included in the bankruptcy become frozen in their state.
You could of had a couple accounts that are R9 and in collections and had a couple that were R3, R4 or R5 and not yet charged off. They all become a part of the bankruptcy and any and all notations of default remain on the tradeline.
After or before your discharge the creditor will add notations that the account was included in the bankruptcy.
The defaulted amounts on all accounts all remain intact and should continue to report those amounts.
A bankruptcy filing does not automatically return all accounts to a zero balance.

All tradlines included in bankruptcy will continue to report for 6 years after discharge.
But the question is how my Equifax report says that i missed Capital one MC payment for the month of july 2020, when i surrounded the same card to the trustee back in August 2017?
Even my Borrowell report says that my score took a big hit this month due to a missed a payment for july 2020 to capital one lol
This debt was included in the bankruptcy, and i was discharged from it a long time ago
Deal Fanatic
Apr 16, 2007
7858 posts
3120 upvotes
Financial District B…
Batalius wrote: But the question is how my Equifax report says that i missed Capital one MC payment for the month of july 2020, when i surrounded the same card to the trustee back in August 2017?
Each and every creditor that was included in your bankruptcy is required to report the defaulted tradeline for the entire bankruptcy reporting timelimit.
Each of those accounts should be reported as closed.
Batalius wrote: Even my Borrowell report says that my score took a big hit this month due to a missed a payment for july 2020 to capital one lol
This debt was included in the bankruptcy, and i was discharged from it a long time ago
Is it possible that you may be mistaking the continued reporting date of that creditors requirement to 'update' (last reported)?

A closed account included in bankruptcy should not have any recent account activity. That july 2020 may be as I described above as just a tradeline update.
----------------------------Licensed Credit Bureau member, S1, FI Automotive, CCP forums most banned = x 13 and counting, guess who that is?... stomped to the curb once again
[OP]
Newbie
Oct 18, 2018
18 posts
4 upvotes
mikeymike1 wrote: Each and every creditor that was included in your bankruptcy is required to report the defaulted tradeline for the entire bankruptcy reporting timelimit.
Each of those accounts should be reported as closed.


Is it possible that you may be mistaking the continued reporting date of that creditors requirement to 'update' (last reported)?

A closed account included in bankruptcy should not have any recent account activity. That july 2020 may be as I described above as just a tradeline update.
Look at the image i posted, there is a red X under July 2020 payment, red x means a missed/late payment
Images
  • borrowell.PNG
Deal Fanatic
Apr 16, 2007
7858 posts
3120 upvotes
Financial District B…
Batalius wrote: Look at the image i posted, there is a red X under July 2020 payment, red x means a missed/late payment
The image supplied does not coincide with the date of last activity notated which is April 1st 2018.

It may be an image error because if it was indeed reported as a late payment then date of last activity would state July 2020 not April 2018.
See what happens for the next two cycles and if it continues then contact Cap1 about it.
But as far as I know, we don't get to send in an update credit report for any client and not include the date. The system does that by itself.
----------------------------Licensed Credit Bureau member, S1, FI Automotive, CCP forums most banned = x 13 and counting, guess who that is?... stomped to the curb once again
[OP]
Newbie
Oct 18, 2018
18 posts
4 upvotes
mikeymike1 wrote: The image supplied does not coincide with the date of last activity notated which is April 1st 2018.

It may be an image error because if it was indeed reported as a late payment then date of last activity would state July 2020 not April 2018.
See what happens for the next two cycles and if it continues then contact Cap1 about it.
But as far as I know, we don't get to send in an update credit report for any client and not include the date. The system does that by itself.
The exact same issue happening with Rogers Communication
When I log in to Borrowell there is a message explaining that these 2 missed payment as the reason why my score went down for this month

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