Expert: David - 3/23/2009

Question
We filled for chapter 7 bankruptcy in 2008 and it was discharged also in 2008. I pulled my husbands and my credit the other day and half of the creditors put charge off instead of a bankruptcy. Can they do this, if not how do I get it changed. thanks

Answer
Hi Veronica,

You need to be very careful on this one.  You can send the credit reporting agencies copies of your creditor list so that everyone is reflected in the BK, but it isn't the way I would handle it.  Rather than verify the negative item I would try to have the entire trade line removed from my credit report, therefore raising my credit score.  Visit my site at www.financialscoringsolutions.com to see more about it.  Feel free to call me directly if you have a question.  I don't mind.  I'm on the phone a lot so I'll probably have to call you back.

Also, keep in mind that the companies did charge off the amounts that were included in BK.  So they are not incorrect in reporting this.  The fewer times BK appear on you report the better.

David McArthur
www.financialscoringsolutions.com
219-718-8566