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credit report after bankruptcy

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My debts were recently discharged from my bankruptcy case. I still have collection items still posted on my credit report. My question is once my debts have been discharged arent the credit agencies suppose to drop the items off of my credit report and simply show that I discharged my debts due to bankruptcy??

And if this is true how would I go about handling this situation.

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My question is once my debts have been discharged arent the credit agencies suppose to drop the items off of my credit report

No, they're not required to remove anything, but they DO have to report as Willing noted. You may find, however, that some collections will disappear. I had 3 entries from Sherman Acquisitions and they are now gone entirely and I never disputed them. I'm glad they're gone, of course, but it did surprise me.

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I looked at my experian report (still have to get the others) it includes the bankruptcy on it. Once I checked and saw the other items I disputed them.....Im thinking that since the collection agencies on my report cant collect the debts, perhaps they will not respond to inquires from the credit bureau's...perhaps?

Maybe perhaps thats a good way to try to clear up my report. Other wise potential creditors can still judge you based on your past history.

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You need to wait like 60-90 days after your discharge for everything to catch up. After that, all debts that were IIB should say IIB with a $0 balannce. Any that don't should get a nasty letter...

What if some discharged (chapter 7) cc TLs do state the IIB but the $balance field is blank. Worthy of a dispute with the CRA as "inaccurate"?

Thank you again if you could offer an opinion.

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Maxedoutagain

I have been asking the same question as you for the past 5 years, is a BLANK field the same as 0? In other word is the absence of a digit a problem? No one has answered this question. I think we would have to get an answer from somebody at Fair Issac on this question.

Periodically links to Fair Issac's data forms (the ones creditors use to submit our data I think it is called Metro 2) have been posted here. These forms appear to give the creditors the ability to import detailed correct information so I am at a loss as why some fields appear as BLANKS. On the part of the submitting party; Is it laziness? Incompetent personell? Or a way to f- up your score so you won't even know it?

I think the BLANK field situation will turn out to be a real problem.

Glad somebody besides me has noticed this.

Maybe if we all started to communicate with Fair Issac about "what does a blank field mean?" we might get some insight.

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That's interesting, didn't think a blank field could hurt, glad you mentioned that possibility. Well, if its supposed to be zero, think its worthy of a dispute then since its inaccurate? Maybe ask the CRA to say it should be zero instead of blank since the blank could mean anything and that means we're bearing the risk of a lousier credit score.....maybe ask

the CRA to delete the entire TL? Now that I think about it, if a new creditor looks at it, how will they know that we still don't owe that old discharged creditor a balance, thus it is a lousier financial picture of us if its blank. Seems that the burden of proving that we still don't owe on a discharged debt falls upon us if its blank.

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Got curious, went to fairisaac.com

http://www.myfico.com/CreditEducation/WhatsInYourScore.aspx

which states that our fico is affected by

Amounts Owed

-Amount owing on accounts

- Amount owing on specific types of accounts

-Lack of a specific type of balance, in some cases

Does that "Lack of a specific type of balance, in some cases" suggest that a blank field (instead of $0) does impact our credit score? Seemingly $0 is better than "blank". Any opinions? And thanks again everybody.

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According to this website, supposed to state $0 (not blank)

WHAT TO LOOK FOR ON YOUR CREDIT REPORT

http://www.pueblo.gsa.gov/cic_text/money/personalfin/lesson6.htm

After you request your credit report — and be sure to request your reports from each of the Big Three repositories — allow 7 to 21 days to receive it. After you receive all of your reports, it is a good idea to follow these steps:

1. Determine the date all account information was reported.

2. Verify the current status of the accounts. Once a debt is discharged, verify that the credit report indicates a discharged status. It is important to note that payment history on a discharged account should also be removed.

3. Verify that all accounts that were discharged by your bankruptcy plan show a zero balance.

4. If there is a written comment about bankruptcy on any creditor entry, it should show that the debt was included in a Chapter 7 Bankruptcy.

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