Question about reporting/disputes

[kl030505]

We are not yet discharged - coming around April 25th. I recently peeked at my report and all the collection agencies/places where debts were sold TO are reporting late/balance owed, etc. Shouldn't they report IIB? All the original creditors are reporting IIB. I know these collection agencies were included in the matrix because I used my credit report to list all the debts.

Do they not have to report IIB until we are discharged? Can I start disputing now, or do I wait until discharge?

Also, GMAC, where my auto lease that we re-affirmed is from, is reporting IIB instead of pays as agreed. I thought if we re-affirmed then it would report based on our status (which is on-time). I'm counting on this as a credit rebuilder. It's one of the major reasons we re-affirmed the lease. After we are discharged, can I call GMAC and ask them to change how they report? THink I'd make any headway? I've had a loan through GMAC for 8 years (yes, I have really had a car payment that long - I always leased - NEVER AGAIN!) and it's never been late. I was kind of hoping to use that to rebuild...

[lrprn]

Do they not have to report IIB until we are discharged?

If your accounts were sold before you filed, then the lenders can report late/charged off forever because it's the truth. However, if the debts were sold after you filed, then those acounts do need to state IIB and have a zero balance.

Can I start disputing now, or do I wait until discharge?

You can start now, but most folks wait until they have their discharge and closing behind them.

Also, GMAC, where my auto lease that we re-affirmed is from, is reporting IIB instead of pays as agreed. I thought if we re-affirmed then it would report based on our status (which is on-time). I'm counting on this as a credit rebuilder. It's one of the major reasons we re-affirmed the lease.

This is one of the reasons *NOT* to count on a reaffirmed loan for rebuilding. Reporting to the credit agencies always has been and continues to be purely voluntary. Unless your reaffirmation agreement states that GMAC must report your account, they are not required to and may choose not to.

Your case isn't discharged and closed yet. You may see a change after that. If you don't, you can request to GMAC that they report your loan stats, but again, they do not have to comply unless your signed-by-all-parties reaffirmation agreement states that they do.

[kl030505]

Thanks for the info. The collection agency debts are debts that were sold TO them before we filed. If I understood correctly, The ORIGINAL creditor can report charged off/sold because they sold it before we filed, but the place they sold the debt TO that we included in the matrix - the one we ultimately "owe" the money to, shouldn't they have to report IIB? In this case, the original creditors are reporting IIB (even though the debts were sold before filing), but the collection agency who we were ultimately supposed to pay is reporting as late pay/deficiency.

[lrprn]

...the original creditors are reporting IIB (even though the debts were sold before filing), but the collection agency who we were ultimately supposed to pay is reporting as late pay/deficiency.

Then in this circumstance, assuming the debt sold was unsecured the collection agency has to report IIB with zero balance.