Chapter 7
Question
My name is James H., and my wife and I Filed chapter 7 two years ago. For some reason there is still a charge off for a 2003 Monte carlo in open status on my credit report. is there any thing we can do to fix this, It is putting a big hurt on us for buying a house.
Thanks,
James H.
Answer
James
Sometimes the credit bureau report will not be updated correctly to show all of the accounts included in bankruptcy.
You can do one of three things…
1) Contact the creditor of the Monte Carlo and ask them to update the bureau report to make this item as “Included In Bankruptcy”
2) You may dispute this item to all three credit bureaus and have them update the credit report.
Lastly, your mortgage lender could do what is called a “rapid Re-Score” and take your bankruptcy papers and work with their credit report provider to get this updated. This would be the fastest way and could be updated within 72 hours.
Thanks and Good Luck.
Candice
Tags: Ask Candice