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    Auto loans that survive BK...

    Does anyone know if it's true that auto loans you reaffirm and continue to pay through BK no longer report payments to the credit bureaus?

    I just received a piece of junk mail that makes this claim and is trying to get me to look for a new loan, so I have to question if that's true, but it's got me concerned. Any feedback would be helpful.
    Filed Chapter 7 Oct. 2010
    Discharged Jan. 21, 2011

    #2
    It depends. Most lenders with whom you reaffirm, will generally start reporting again if you ask (and/or sign an agreement that you wanted them to do so). As a matter of fact, I reaffirmed one of my auto loans, and it continues to be reported. I didn't ask for that!
    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

    Any advice provided is not legal advice, but simply the musings of a fellow bankrupt.

    Comment


      #3
      I got the best of both worlds:

      I actually wanted to reaffirm but the lender, a small buy here/pay here company, never prepared an agreement. I send them a letter, pointing out that credit-reporting pre-BK on that loan would be crucial and if they didn't require a reaffirmation, they should consider this letter as my "O.K." to continue reporting.

      Now, the loan is discharged (at least my part, my mother co-signed) AND they continue reporting every monthly payment - without any "IIB"-notation.
      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


        #4
        My auto loan that was reaffirmed continued to report payments to all 3 credit bureaus.

        Comment


          #5
          My auto loan was with Honda Financial and i did not reaffirm- it still reports to all credit bureaus.
          Filed Pro Se: 10/16/2009
          341 Scheduled: 11/23/2009
          Last Day for Objections: 1/22/2010
          Discharged: 1/28/2010

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