top Ad Widget

Collapse

Announcement

Collapse
No announcement yet.

Mortgage Reporting after CH7--Did Not Reaffirm

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

    Mortgage Reporting after CH7--Did Not Reaffirm

    So, just as the title says, I checked my credit with EQ this morning and realized that my mortgage is reporting my payments. We didn't reaffirm and the strange thing is that they have payments posted back before the CH7 even happened even though they are a new servicer. So, every payment is an on-time payment...should I leave it be, or hae it corrected? What would be best?
    9/03/08...Chapter 7 Filed
    10/06/08...341 Meeting Done!!! No Objections
    12/08/2008...Case Discharged and Closed!!!

    #2
    If you never missed a payment and have no negative reporting, why bother a good thing? It's probably helping your score!
    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 guess the primary concern is that it was with Bank of America at the time of the CH7 filing and that is reported as IIB. The servicer was changed to the new company and they are reporting. Kind of weird... if not illegal I think.
      9/03/08...Chapter 7 Filed
      10/06/08...341 Meeting Done!!! No Objections
      12/08/2008...Case Discharged and Closed!!!

      Comment


        #4
        You can dispute the entry and I'm sure they'll remove the entry. However, it is highly likely to affect your score and perhaps in a negative way. There is just no way to tell the affect of this on a FICO score and your credit.
        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


          #5
          Multiple companies can report the same debt, legal as long as only one of them reports a balance. So because it is marked IIB and no balance due then ok and absolutely the one reporting is a good thing and no doubt helping your score. Be advised though sometimes, down the road, they could realize they are reporting when they shouldn't be and all of a sudden will stop.

          Comment


            #6
            Sounds good. We are putting the house on the market at the end of this month. Fingers crossed. If all goes well, we plan on buying a new house next year and didn't want any hiccups from an underwriter looking at this and thinking it was strange. Thanks!!!
            9/03/08...Chapter 7 Filed
            10/06/08...341 Meeting Done!!! No Objections
            12/08/2008...Case Discharged and Closed!!!

            Comment

            bottom Ad Widget

            Collapse
            Working...
            X