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Can a Secured/UnSecured Creditor ask credit report info during/after Chpt 13?

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  • Can a Secured/UnSecured Creditor ask credit report info during/after Chpt 13?

    I have always looked ahead, sometimes to far, to see if there is anything I should do are should of done now that would help in a few years when my Chapter 13 comes to a hopeful end. One question is that does a secured/unsecured creditor that is being paid through my chapter 13 ask to see are obtain in some way information that is on my credit reports and with are without my are my attorneys knowledge?

  • #2
    I don't truly understand your question, but here it goes. If you're asking if a creditor is allowed to check your credit report, then the answer is yes. Typically, though, the creditor will do something known as a "soft" pull which doesn't affect your credit score and is not reported to other creditors. In reality, an unsecured creditor is likely to sell the account and nothing is going to happen. The accounts are typically sold to large "junk debt buyers" (JDBs) that purchase the bad debt for as low as $0.04 on the dollar. They hope that you don't complete your Chapter 13 so that they can pounce; but I digress.

    After your Chapter 13 is completed, discharged creditors are no longer creditors and under the law they should not be checking your credit. It's a waste of time for them anyhow. Secured creditors for property that you did not surrender are still your creditors after discharge.
    Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
    Status: (Auto) Discharged and Closed! 5/10
    Visit My BKForum Blog: justbroke's Blog


    I am not an attorney. Any advice provided is not legal advice.

    Comment


    • #3
      Originally posted by justbroke View Post
      I don't truly understand your question, but here it goes. If you're asking if a creditor is allowed to check your credit report, then the answer is yes. Typically, though, the creditor will do something known as a "soft" pull which doesn't affect your credit score and is not reported to other creditors. In reality, an unsecured creditor is likely to sell the account and nothing is going to happen. The accounts are typically sold to large "junk debt buyers" (JDBs) that purchase the bad debt for as low as $0.04 on the dollar. They hope that you don't complete your Chapter 13 so that they can pounce; but I digress.

      After your Chapter 13 is completed, discharged creditors are no longer creditors and under the law they should not be checking your credit. It's a waste of time for them anyhow. Secured creditors for property that you did not surrender are still your creditors after discharge.
      Thank you so much justbroke. That's good to know. Even if I have nothing to hide, I still feel uncomfortable that a listed creditor on my Chapter 13 can see what is going on with my credit reports at anytime and maybe can make a decision to alter are have my Chapter 13 cancelled if they see something that they donk't like now are maybe when my Chapter 13 goes into discharge/closure.

      Comment


      • #4
        Your Chapter 13 will go to discharge if you remain in plan, keep up your payments, and complete the commitment period (36 or 60 months, or something in between). A single creditor could only ask that their specific debt not be discharged and they would typically do that prior to confirmation.

        There is really nothing to worry about. A Chapter 13 is all about just making your payments and getting to the end.
        Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
        Status: (Auto) Discharged and Closed! 5/10
        Visit My BKForum Blog: justbroke's Blog


        I am not an attorney. Any advice provided is not legal advice.

        Comment


        • #5
          Originally posted by justbroke View Post
          Your Chapter 13 will go to discharge if you remain in plan, keep up your payments, and complete the commitment period (36 or 60 months, or something in between). A single creditor could only ask that their specific debt not be discharged and they would typically do that prior to confirmation.

          There is really nothing to worry about. A Chapter 13 is all about just making your payments and getting to the end.
          Thank you as always justbroke.

          Comment

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