Rick9972

GEMB Report BK Monthly

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GEMB is reporting DW's BK monthly for almost a year now. The normal information is correct, but the act of updating her account with a negative entry monthly is absolutely killing her FICO.

Can anything be done about this?

Thanks

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How do you know it is being updated? Have you disputed with the CRAs?

I have seen it being updated monthly on TC. I checked her FICO's last month and this month and her last late payment or negative comment is 1 month ago. The only thing updated is this account.

What would I dispute with the CRAs? The information is correct, GEMB is just updating a closed account monthly.

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So the info itself doesn't change? It just states "updated on: newer date"?

I'm not sure I trust TC. Pull your annual credit reports for free by mail. That gives you an honest picture.

And I'm not sure the "last updated" field has any bearing on FICO score. It is date of delinquency, status, and balance that matter. Your data of delinquency will never change, your status should no loner be open, and your balance should be $0. If she isn't opening new credit and using it, your scores after a BK aren't really going to improve for years. After my BK, my scores were in the 400s.

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Hmmm....

I recently disputed 3 items on my Equifax report, all 3 were IIB but reporting balances and/or payment histories after the BK 7 filing date. Equifax "verified" all 3 in less than a week as accurate and my fico score has dropped 15 points. No other changes to the reports since I last pulled the report. I am using MyFico for scores and reports are from the Equifax web site. It looks to me that the updating of the reports is in fact having an effect on my credit score.

It seems quite unfair and like I am being punished for daring to dispute anything that Equifax reports.:confused:

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Hmmm....

I recently disputed 3 items on my Equifax report, all 3 were IIB but reporting balances and/or payment histories after the BK 7 filing date. Equifax "verified" all 3 in less than a week as accurate and my fico score has dropped 15 points. No other changes to the reports since I last pulled the report. I am using MyFico for scores and reports are from the Equifax web site. It looks to me that the updating of the reports is in fact having an effect on my credit score.

It seems quite unfair and like I am being punished for daring to dispute anything that Equifax reports.:confused:

Delta

NO "unsecured" creditor has a right to list anything but a $0 (ZERO) balance after a CHAPTER 7 BK and payment history is only to be that of prior to BK filing. Please read stickies above regarding post BK reporting. If you have inaccurate reporting, call them on this and follow the dispute. Equifax is not immune to looking at a public record (BK) and letting a creditor list as IIB and have a balance and just saying "verified" because they have no common sense or regard for the law. This is when you hit them with the hammer.

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NO "unsecured" creditor has a right to list anything but a $0 (ZERO) balance after a CHAPTER 7 BK and payment history is only to be that of prior to BK filing.
That seems to be accurate from what the OP posted. There is another field that says "last reported" which keeps updating monthly. But the payment history itself and the $0 balance are accurate. This is annoying but not so clear cut that there are sanctionable violations going on. One could argue that they should not be reporting ANYTHING at all after the date of filing, whether it be accurate info or not.

Delta posted another issue. That's pretty clear cut. Print out your reports, print out your equifax "verification", and head back to your BK attorney's office. You can bring a motion to sanction the parties that are in violation of the permanent injunction. You shouldn't have to reopen your case- the court still has jurisdiction.

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