reaffirmation agreement required? for payments to be reported??
Date: Mon, 07/12/2010 - 19:16
Help,
I filed a bankruptcy last year and it was discharged 11/09. I retained my condo, and equity line on the condo and my car payments. I recently checked my credit report, only to see that even though I have made payments and am current on all 3 accounts, my report shows I have made 0 payments, but am never late and shows the balances decreasing. I called my lender on the condo and was told that because I didn't do a reaffirmation agreement as part of the BK, the lender did not have to report my payments. I called the attorney who filed the BK and he said because it is a secured debt there does not need to be a reaffirmation agreement. Help?
I did sign a reaffirmantion agreement on my car and they aren't reporting my paymants being made either, it just shows the same as the house and equity line, with the balace decreasing and no late fees.
Is there anything I can do the get these 3 debts to report the
payments that I am making so it will help my credit scores. I am buliding credit and have 3-4 credit cards.
would appreaciate any guidance,
Janis :confused:
I filed a bankruptcy last year and it was discharged 11/09. I retained my condo, and equity line on the condo and my car payments. I recently checked my credit report, only to see that even though I have made payments and am current on all 3 accounts, my report shows I have made 0 payments, but am never late and shows the balances decreasing. I called my lender on the condo and was told that because I didn't do a reaffirmation agreement as part of the BK, the lender did not have to report my payments. I called the attorney who filed the BK and he said because it is a secured debt there does not need to be a reaffirmation agreement. Help?
I did sign a reaffirmantion agreement on my car and they aren't reporting my paymants being made either, it just shows the same as the house and equity line, with the balace decreasing and no late fees.
Is there anything I can do the get these 3 debts to report the
payments that I am making so it will help my credit scores. I am buliding credit and have 3-4 credit cards.
would appreaciate any guidance,
Janis :confused:
When you don't reaffirm, the payment history does not get added.
When you don't reaffirm, the payment history does not get added. After you pay off the debt you will get your title, but sadly enough this won't help you in bettering your credit score. The payment history won't have any kind of effect on your credit. Your credit report won't reflect that you had made regular payments.
As for the reaffirmation made on the car, can you tell whether or not you have the reaffirmation paperworks and the payment receipts? If you have, you can use these to dispute the wrong listing on your credit report.
