Question about Payments

[MajorMike]

Is there a file kept on your credit report for Trustee payments?
How does a mortgage company know how you've been paying? Does the trustee release this info?

[rrockinggramma]

you should be able to see how much has been paid to your mortgage company on either the data center or the 13network trustee's website. Otherwise, call the trustee's office and ask if there is anyway to get a printout. Mine sent out statements every 6 months.

[Flamingo]

Is there a file kept on your credit report for Trustee payments?
How does a mortgage company know how you've been paying? Does the trustee release this info?

The CRA's do not keep track of trustee payments. When you send a payment to your Trustee (note it is probably to a P.O. Box in another state if you send it directly and it is not automatically withheld from your paycheck), it goes to a service which keeps track of all payments for that particular trustee. As to the mortgage company, it receives documentation from the trustee as to your plan and when it will receive payments and will also receive your attorney's contact information. If you yourself are to make the payments outside of the Plan, you continue making them as you normally do and they keep track of that as usual, but that account will be moved to their bankruptcy section/department and the payment address usually changes.

[MajorMike]

No, that's not my question. Sorry, should of made myself more clear.... First of all, I send them right to their office 20 miles from my home. Second, I dont have a mortgage currently, but want to apply for one in a few years. How do they know how I kept up on payments to the trustee? *My future mortgage company
How do they know I'm a good risk? Can the trustee release that info?

[Flamingo]

When we refinanced during our Chapter 13, the mortgagor or their representative contacted the trustee to see if our Plan payments were current and all made (none late) as that was one of the requirements to get the mortgage. If you are able to apply for a mortgage during your Chapter 13 (you state apply for a mortgage in a few years), the same will probably occur for you. But they will contact the Trustee to ensure you are current on your payments. If you apply after your discharge, your discharge document proves you successfully made it through your Chapter 13 and should serve as proof of all payments made.

[HHM]

Chapter 13 payments are not tracked on your credit report. Trustees do not report to CRA's.

[MajorMike]

Thank you All