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Reaffirmed auto loan not reporting on credit report?

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    Reaffirmed auto loan not reporting on credit report?

    Discharge was in April. The auto loan was reaffirmed in the ch 7 filing. I just pulled my credit for the first time since filing and noticed that my auto financing co. has reported:
    "Discharged through bankruptcy ch 7/never late."
    Recent balance:
    $0/ paid as of 03/2011

    Nothing about a re-affirmation

    I am confused. I reaffirmed since I wanted to keep the vehicle and at the same time help re-build credit. Is there anything I can do? I have continuously been making on-time payments before, during and after my ch 7 filing.

    #2
    You need to contact your financing-company and ask what's going on.
    Filed CH7 9/24/2010, 341 on 10/28/2010, Disch.&Closed: 1/6/2011. FICO EX: 9/2: 672.
    FICO EQ: pre-filing: 573, After BK Public Record: 568, 10/3: 673.
    FICO TU: pre-filing: 589, After BK Public Record: 563, 9/2: 706.

    Comment


      #3
      Originally posted by kimberlee104 View Post
      Discharge was in April. The auto loan was reaffirmed in the ch 7 filing. I just pulled my credit for the first time since filing and noticed that my auto financing co. has reported:
      "Discharged through bankruptcy ch 7/never late."
      Recent balance:
      $0/ paid as of 03/2011

      Nothing about a re-affirmation

      I am confused. I reaffirmed since I wanted to keep the vehicle and at the same time help re-build credit. Is there anything I can do? I have continuously been making on-time payments before, during and after my ch 7 filing.
      I'm not 100% sure with this answer, but I think I've been told a creditor does not have to report to credit bureaus, even though you reaffirmed a debt? Its up to the creditor if they choose to report or not?
      Filed: 5/22/07; 341 Hearing: 6/27/07;
      Confirmed: 8/13/07; DISCHARGED 4/17/2012

      Comment


        #4
        Originally posted by Nicollette View Post
        I'm not 100% sure with this answer, but I think I've been told a creditor does not have to report to credit bureaus, even though you reaffirmed a debt? Its up to the creditor if they choose to report or not?
        That actually applies to ANY loan - pre-BK, post-BK or even no BK at all. There is no law that requires credit-reporting. There is only a law (FCRA) that requires the reported info to be accurate.

        My auto-loan with a small buy here, pay here lot wasn't reaffirmed but I sent them a letter where I asked them if they would be so kind to report my future payments as well and that I would be willing to reaffirm if that was necessary. It wasn't and they reported all payments until it was paid off. So yes, the loan had a ridiculous interest-rate but having a lender that is "within reach" had its advantages, too.
        Filed CH7 9/24/2010, 341 on 10/28/2010, Disch.&Closed: 1/6/2011. FICO EX: 9/2: 672.
        FICO EQ: pre-filing: 573, After BK Public Record: 568, 10/3: 673.
        FICO TU: pre-filing: 589, After BK Public Record: 563, 9/2: 706.

        Comment

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