I'm new, I'm scared...

[wilcofan]

My wife and I are waiting to file, sb sometime this week. The more I read on this site, the more nervous I become... My main concern is how the credit report will show the accounts like our mortgage and car payments. These will be paid outside of bk, and so far, we have never been late. Will the accounts that are not included show any differently on our credit report? What am I missing? I am also concerned about my ex-wife being effected by me filing... A mortgage we had jointly, (she is responsible for the debt after divorce) is still on my credit report, and according to our lawyer needs to be listed with everything else on the credit report. Again, do accounts that are in good standing before filing, and are paid outside of bk become damaged on credit report? Hope my questions make sense...

[SinkingFast]

Several people here, on the Forum, have had payments outside the plan cease being reported to the CRA's. Also, their accts with their Mortgage and Auto Lenders were turned over to the BK Dept. People have lost their online access to acct info as well. Many times, instead of receiving your monthly payment remittance, you'll get a "For Informational Purposes" statement.

Make sure you contact your Lenders and find out if you will need to send your payments to a different address. Will you need to deal with a different Dept. Most Lenders have Depts of people devoted to dealing with clients who file BK. Lenders are bound by Law what they can and cannot say and do with BK Filers.

[bobby125]

I am new to BK as well and just getting started. My mortgage is outside my BK and I have a totalof four of them (2 primary home and 2 rental). Both are outside the Bk and I am shut off from the internet as both.

I was also never late as well, and I pretty much am resigned to the fact that my credit will be terrible for 7 years, and really, who cares, bc for 5 years I cannot take on credit anyway

If you are thinking about 13, then there must be a reason, and I tell you that ever since I made the choice to move forward, I have felt so much better.

It gives you a way out and teaches you discipline.

Take this forum as it is, for advice and to ask questions.

Good luck

[SinkingFast]

Quite frankly, I don't understand why Lenders not actually involved in the BK act that way, but many folk have reported that they do.

Several have had problems with payments being posted with their Lenders when the Mortgage was maintained outside the plan. Same with car loans.

The Lenders treat you like you filed against them when you didn't.

And for many of us, the whole purpose of keeping the payments outside the Ch 13 payment plan was to have positive reporting tradelines for rebuilding after BK. Yet the Lenders outside of the plan don't report.

Just be watchful of that. Make sure you get the correct address to send payments to. Correct contact phone numbers to call if you need assistance.

Some posters have had to resort to using BillPay to get their payments accurately posted. Lenders will say that people didn't really send in the payments unless they send payment via a 3rd party as verified proof.

[lrprn]

Some posters have had to resort to using BillPay to get their payments accurately posted. Lenders will say that people didn't really send in the payments unless they send payment via a 3rd party as verified proof.

I'm one of those posters SF mentions. Our mortgage company (they bought our home loan over 10 years ago and we haven't had one single problem the whole time) rewarded us by filing an objection to our plan saying we were one month in arrears when we filed (we weren't and I can prove it with their own invoices) and are now trying to charge us more than $1,400 for the "missing" payment plus a late fee plus (insult to injury) $75 for their lawyer's time to file the objection. Sheesh.

We started paying our mortgage through BillPay at our bank just for third party verification of payment and so they couldn't keep piling on late fees for the duration of our five-year plan - that's happened to people too. Get out of Ch 13 only to find their mortgage company has thousands of dollars in late fees waiting for them saying that the entire time they've been a month or more in arrears since they filed. Sheesh x 2 - I swear some days bk is like climbing Mt Everest without oxygen or climbing equipment in a raging snowstorm. Who knows what cr** these mortgage companies will try next to make an easy buck?