barefoot1967
07-13-2006, 10:43 PM
Hi, I am new to this forum and I could use your help.
DH and I filed Chap 13 in June 2003. At the time we were 1/2 payment behind on our mortgage (we could only pay 1/2 of May's payment so they held onto it and didn't count it as a payment at all) and I think 2 payments behind on our car loan. Both deficiencies were included in our plan but continuing payments were made outside the plan with the deficiencies being treated as priority debts.
In June 2006 we made our final payment to the Trustee and have just recently received a refund after final audit and have been given approval to buy, sell, or refinance property.
We need to sell our home due to DH's job transfer so our home is on the market and we are working with our long-time mortgage broker to get pre-approval for a mortgage for the home we will buy after we sell our current home and move. Our mortgage broker pulled a tri-merge credit report for us this week and this is what is being reported:
Mortgage company has reported this to TransUnion and Equifax:
IIB but 30 days late every month from 5/03 to 5/06 with past due amount; last reporting date 6/06
Mortgage company has reported this to Experian:
IIB, no history, but a past due amount; last reporting date 6/03 (the month we filed).
Car Loan has reported this to TransUnion and Equifax:
IIB but 120 days late from 8/05 to 1/06 with both balance due and past due amount; last reporting date 2/06
Car loan has reported this to Experian:
IIB with history up to filing date of 30 days up to 150 days late at time of filing, with both balance due and past due amount; last reporting date 6/03.
We made all of our plan payments as well as car and mortgage payments outside the plan on time every month since we filed. Car loan's last payment was due June 2005 so it was paid off over a year ago.
So here's my question: Is it legal for these lenders to report us as being late after we filed, for payments which were past due then but all payments after filing were made on time? I understand that they can report negative history up to the date of filing, but what about afterwards, especially if you weren't really late then?
It doesn't seem fair that they can continually claim that we were late on these accounts after we filed, since the past due amounts were paid into the plan and they have now been paid by the Trustee.
Can anyone advise on how these accounts should be reported? Yes, it has only been a couple of weeks since we finished our plan and the Trustee made the final disbursements, but we need to get this straightened out ASAP so we can get our mortgage situation straightened out for the new house when we buy it.
Thanks in advance for your help.
DH and I filed Chap 13 in June 2003. At the time we were 1/2 payment behind on our mortgage (we could only pay 1/2 of May's payment so they held onto it and didn't count it as a payment at all) and I think 2 payments behind on our car loan. Both deficiencies were included in our plan but continuing payments were made outside the plan with the deficiencies being treated as priority debts.
In June 2006 we made our final payment to the Trustee and have just recently received a refund after final audit and have been given approval to buy, sell, or refinance property.
We need to sell our home due to DH's job transfer so our home is on the market and we are working with our long-time mortgage broker to get pre-approval for a mortgage for the home we will buy after we sell our current home and move. Our mortgage broker pulled a tri-merge credit report for us this week and this is what is being reported:
Mortgage company has reported this to TransUnion and Equifax:
IIB but 30 days late every month from 5/03 to 5/06 with past due amount; last reporting date 6/06
Mortgage company has reported this to Experian:
IIB, no history, but a past due amount; last reporting date 6/03 (the month we filed).
Car Loan has reported this to TransUnion and Equifax:
IIB but 120 days late from 8/05 to 1/06 with both balance due and past due amount; last reporting date 2/06
Car loan has reported this to Experian:
IIB with history up to filing date of 30 days up to 150 days late at time of filing, with both balance due and past due amount; last reporting date 6/03.
We made all of our plan payments as well as car and mortgage payments outside the plan on time every month since we filed. Car loan's last payment was due June 2005 so it was paid off over a year ago.
So here's my question: Is it legal for these lenders to report us as being late after we filed, for payments which were past due then but all payments after filing were made on time? I understand that they can report negative history up to the date of filing, but what about afterwards, especially if you weren't really late then?
It doesn't seem fair that they can continually claim that we were late on these accounts after we filed, since the past due amounts were paid into the plan and they have now been paid by the Trustee.
Can anyone advise on how these accounts should be reported? Yes, it has only been a couple of weeks since we finished our plan and the Trustee made the final disbursements, but we need to get this straightened out ASAP so we can get our mortgage situation straightened out for the new house when we buy it.
Thanks in advance for your help.