Reaffirmation of loans

[lilgoose]

Hi, filed in Aug 05 and was discharged in Dec 05. Reaffirmed a van loan, been paying EARLY every month and are now paid a month ahead. Ran credit report today and found out the bank where the loan is thru has showed this account as being closed since Sept 05. We have been making regular monthly payments all this time and it is not being reported on our report.

Oh, yes, we do have the paperwork stating that we reaffirmed the loan.

What do we do????

Where has all these payments gone that we have been making???

[BKinFL]

Oh, believe me, those payments have been going to the right place. This same thing happened to me with my student loan. I have been making payments for months now because I automatically assumed student loans couldn't be IIB. When I checked my credit reports, the account was, indeed, being reported as included in BK. So, I wondered what was going on since I have been making payments all this time. I wrote the company a letter asking them why the account was being reported as IIB and they sent a response telling me that the debt had been discharged!!!!! So, all along I had been making payments on a debt which I was no longer responsible for. Believe me, they haven't gotten anymore cash out of me.

Your situation is a bit different because if you stop paying, they will surely take your vehicle. Maybe you should just write them a letter asking why the account has been reported as closed. I would imagine it was reported that way after your discharge, and nobody ever bothered to do anything with it again. If you write them and ask them to begin reporting, they probably will. Make sure you send your letter certified so you will have proof of contact. But your payments have definitely been going to the right place, or else you would have heard by now.