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Worth the fight..or not? HELP PLEASE!!!!!!!!!!!


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Here's the story, filed CH7 BK 1/2002. Basically because we were backed into a corner. We were trying to settle all our debt, most companies were agreeable, but Household Bank was NOT, they sued for a judgement and we decided to bite the bullet and file. We reaffirmed the house and car. We only defaulted on about 5 accounts.

My question is this: Our car loan is showing a Included in Bk/Charge off 4/05. We have continued to pay this loan and NEVER been late, in fact back in March we paid 4 months in advance (through July!) Is this a legal TL? Does reaffirming have anything to do with the way they can report this account. I KNOW the C/O is incorrect and have cancelled checks to prove this!

Second question: Household bank is showing a charge off date AFTER the BK date, althought we were 180 days past due and the account had been to collections before BK filing. Is this anything to fight

Third question: Another credit card we had, which was current at the time of BK, but had to be included, is showing Discharged CH 7 2/28/03..not 1/14/02. Should we dispute this, or would it even help much?

Finally, one account included in BK is showing CURRENT status as 120 days past due, but was discharged in BK>

How does one get the IIB TL removed? I have done TONS of research, but can't really find any references SPECIFIC to my situation! We were ready to just "wait it out" as we had the house and car, but husband decided to change jobs and we are finding he can't get hired because of deragatory credit...he is in the pharmaceutical industry!

FICO scores are:

TU 572

EQ 571

EX 586

We have NO collection accounts and are current on all our accounts. We have 3 credit card accounts which are paid in full, but continue to use them and pay them off monthly, but they have low limits (300/500) don't want to ask for limit increase because don't want the inquiry.

For the most part all the CRA are consistent with their reporting.

Bottom Line: Is it worth it? And where do I start? Since I am dealing with ALL OC? Do we dispute with CRAs or OC?

I am learning SO MUCH from this board!!!!

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Welcome...not sure I can answer all your questions, but here's what I do know...

Your car...even though you continued to pay on it, it was IIB and should be reported as such. "Charge Off" is more of an accounting term, but honestly I'm not sure why they chose to report it as such. It basically means they've taken a charge against income for tax purposes. Does it also say "sold to another lender"?

Q2. Again, IIB and charge off (as long as the balance is $0) is basically correct. The only thing to fight is if this one says "sold to another lender" than they've sold the right hassle you for an IIB debt to someone post BK. That's wrong, and you can fight that.

Q3: All IIB debts should have the same date. Send these folks a letter CMRRR, telling them they are reporting incorrect data (an FCRA violation) and to correct it.

Q4: Same as Q3.

How do you get it removed? Patience. Do some searches on the board here. There are some posts from people who have successfully removed BKs, but I don't remember the details....and, I do remember that its been 2-3 years afterwards.

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