Default/Settlement Date query

doris1420

Hi,
I am looking for some advice regarding my credit file.
I was declared Bankrupt in Feb 2011, I am in the process of checking my credit file and I have a query regarding the credit card default/settlement dates that appear on my file.
At the date of my Bankruptcy I had 5 credit cards, 3 of these had default balances and 2 had no account balance and were not used.
The 3 with account balances show the actual default date on my file, all mid 2010, as I understand it these will drop of my credit file during this year.
The 2 cards that were not being used show settlement dates of April 2012, some 14 months after my Bankruptcy. Both accounts show no balance/not being used markers.
I have the following questions I would like help with.
1) Should the settlement date be the same as my bankruptcy date
2) Should the information be updated monthly as the accounts are closed
3) As there is no default balance, does it matter.
Thanks in Advance
Doris

fermi

1) No, on a defaulted debt settlement/satisfaction date should be your discharge date. On an account where there was no actual bankruptcy debt, that in theory does not apply and it's when ever they actioned the decision to close the account.

2) Some of the CRAs continue to show monthly codes, especially on a defaulted account. Others do not. It just a way of representing things though. The settlement/satisfaction date is the critical piece of data.

3) Probably not. The unused account will linger longer than the defaulted ones, as they drop from the settlement date rather than the satisfaction date, but if the proceeding history on them is OK it's neither here not there in most ways.

doris1420

Thanks for the prompt reply.
So as I read it, I do not really need to do anything.

fermi

Sounds that way.