how are exempt items reported to credit bureau?

[redquartz]

When I filed Chapter 7, I had things listed that were to be exempt from bankruptcy: mortgage, home equity loan, 2 car loans. I was under the impression that these items would not be reported to my credit reports as being in Chapter 7.....but they are. Are they supposed to be? I am totally confused, as I tried to get a car loan and these items are being paid on time each month, but are not being reported to the credit bureaus as all.
Any advice would be helpful.

[justbroke]

Exemptions and Credit Reporting don't have anything to do with each other. Absolutely nothing. Exemptions just protect your assets from being "administered" (or liquidated) through the Chapter 7 Bankruptcy. Credit Reporting, on the other hand, is just how creditors report things about your relationship with them. Generally speaking, everything that was on your credit report before filing, will be listed as Included In Bankruptcy (IIB), unless you reaffirm the debt.

Do not reaffirm, just to get a tradeline on your credit report. That's a whole different thread topic!

[redquartz]

Thank you for answering so quickly....my husband is all stressed out. Maybe you can answer this? I thought exempt meant that it wouldn't be part of the bankruptcy and wouldn't be reported to credit bureau's as IIB. We have 2 car loans and one is saying IIB and is NOT being reported as being paid every month on time!!!! The other one doesn't say anything and is being reported as being paid and on time every month. Do you know why this would happen? AND even if it does say IIB, shouldn't the companies still report that you are paying on it?

[justbroke]

No one understands why one item on the report gets reported "correctly" and the other doesn't. Exemption has nothing to do with credit reporting (period). If the debt was "discharged" (or will be discharged) in the bankruptcy then it reports as Included In Bankruptcy (IIB), and that's the correct designation. Regardless of whether you keep paying, the debt is no longer your debt.