BK Of Another Showing Up On Credit??
I have a situation that ALWAYS throws a red flag on my husband's credit report. I filed INDIVIDUAL BK (chapter 13) in 6/1997. The only joint accounts on there that were LISTED but not FILED on (meaning they were paid on time outside the bk) were 2 mortgages on investment properties. We have owned them for 16 years and have never made ANY late payments on them. Even now on his credit report, these 2 items are showing up as "Current status - In BK of another person. Additional information - PAID ACCOUNT/ZERO BALANCE" (they were refinanced in 12/98). It states the date of last activity for both are 6/97, but the date reported was 1/99?? I am confused. Will these items both drop from his/our credit reports in 6/04 or will they stay on there until 7 years from the date last reported (1/99)? To date he's never gotten denied credit because of this, but it ALWAYS throws a red flag and required lengthy explanation and documentation to prove that HE didn't file BK. Please help me understand. <IMG SRC="images/forum/smilies/icon_confused.gif"> [ Edited by pinkflamingo on Date 02/08/2004 ]
I was in the same boat if that helps. I filed and kept my wife out of it. All her stuff was clean and no late pays. She was denied because of my BK filing. No way to figure out why or how but you can do something about it. Write letters to all 3 credit bureaus and dispute there information. They more than likely will take it off especially because it is old news today. Keep writing until it is gone and you will be good to go again without all the bother.
Good LUCK and Thank You
Hope this helps some
Ted Jr
tedji is right. also state in your letter you may not be getting the interest rates you deserve because of this and you are being punished through no fault of your own. You would like them removed. That usually works.
Good Luck
Lori
[addsig]
The only thing that credit bureau cares about is if the information supplied is correct or not. Stories like " ...you may not be getting the interest rates you deserve because of this and you are being punished through no fault of your own." is not something that they legally have the pleasure of thinking about because under the letter "S" there is no sympathy in their manual book.
Good Luck!
That is not necessarily correct.
You see, if you are truly unfairly being treated a certain way because of someone else's actions then you have reason to bring suit against them. They know this and may choose to avoid the situation.
A purely factual letter doesn't always imply the same as one with facts and emotion. The emotional are more likely to make your life tough via court.
So, I would write the letter stating facts proving that it isn't yours and state how it is affecting you and your life. You will get more attention.