How should this look?

[aces67]

We filed Ch 7 but we reaffirmed our mortgage. We've never been late or missed a payment. They finally started reporting it to our credit again but here's how it looks:

Condition: derogatory
Balance: 0
Type: Secured loan
Pay Status: Current

Now should it still be derogatory since we did reaffirm?

[justbroke]

Just dispute it, if it's inaccurately being reported.

[Flamingo]

Dispute it. If it comes back that the mortgage company is "reporting correctly," send a letter to your mortgage lender advising them of what is being reported and to please correct it. Your mortgage should be showing as current; however, in the comment column the mortgage company may list that it was included in your bankruptcy filing, which it actually was, and that will be almost impossible to remove.

[oldhack]

Is reaffirmation considered IIB (Just asking -- I really don't know. Didn't apply to me.)? Because, if so, IIB IS derogatory.

[justbroke]

Is reaffirmation considered IIB (Just asking -- I really don't know. Didn't apply to me.)? Because, if so, IIB IS derogatory.

No, Reaffirmation is not IIB.

[aces67]

So I'm still confused. Since we reaffirmed it will it be a positive tradeline or not?

[justbroke]

So I'm still confused. Since we reaffirmed it will it be a positive tradeline or not?

If you re-affirmed the debt, you may need to both dispute the tradeline and contact your lender informing them that you either want the tradeline removed or you want it reported accurately as current and pays on time.

[aces67]

Okay I will do that. I've already called them once and they act like they aren't sure what I mean. They seem to think they are reporting it correctly.

[justbroke]

Some creditors reporting interface to the CRAs are not very good. They cannot distinguish an account that's been re-affirmed and a debtor who filed bankruptcy and should have IIB. That's why, if they're incapable of reporting it accurately, should remove the tradeline.