Delinquencies on credit report between Ch. 7 filing & discharge dates VALID ?

Edwards Finance > Credit Report

Q. We filed Chapter 7 BK in 1/97 and it was discharged 7/97 (in Pennsylvania). On our attorney's advice, we ceased throwing good money after bad and stopped paying on our "scheduled" credit accounts after the filing date (as I've seen Brett recommend). Now, 6 years later, many of those credit accounts on our three credit bureau reports, although they may or may not say "Included in Bankruptcy", report delinquencies ranging from 30 to 90 days and dating from between 2/97 and 5/97. I know the delinquencies should disappear within the first half of 2004 but we need to finance a vehicle purchase this year and I feel the credit record "doubly damns" me with the delinquencies. I never had any delinquencies outside the scope of the bankruptcy process between 1/97 and 7/97. I understand the listing of the bankruptcy and it's effect on my credit rating, and I understand that the automatic stay between filing and discharge prevented legal action by my scheduled creditors. However, were the creditors right to report the delinquencies ? Even so, should I dispute these delinquencies with the credit bureaus to have the accounts "updated for bankruptcy" ???? And is it right to expect the delinquency notations to be expunged as a result of updating for bankruptcy ?

A. All accounts included in the bankruptcy should show a zero balance, and be listed as "Account included in bankruptcy," or similar language. Failing to do so could be a violation of the Fair Credit Reporting Act. Speak with a local consumer protection attorney for more information.

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