We are going through a short sale with Wells Fargo. Our Ch 7 was discharged June 2010. Did NOT reaffirm mortgages (1st & 2nd).
Got a "approval letter" from WF and part of the verbage is:
“As agreed, when we receive the sale proceeds and all required documentation, we will notify the credit bureau to reflect “agreed settlement short of full payment” which would appear on the credit report within 60-90 days from the sale date and within 60-90 days from the date of notification”As far as I know they are not allowed to report anything further to our credit because the debt was discharged.
We are getting pressure from the realtor to just accept it, even though he has no knowledge of BK laws... I have spent the last 9 months cleaning up our credit and it all reads IIB discharged in CH 7. Our scores are over 660.
Can anyone chime in? What are our rights? Should be accept this?
Got a "approval letter" from WF and part of the verbage is:
“As agreed, when we receive the sale proceeds and all required documentation, we will notify the credit bureau to reflect “agreed settlement short of full payment” which would appear on the credit report within 60-90 days from the sale date and within 60-90 days from the date of notification”As far as I know they are not allowed to report anything further to our credit because the debt was discharged.
We are getting pressure from the realtor to just accept it, even though he has no knowledge of BK laws... I have spent the last 9 months cleaning up our credit and it all reads IIB discharged in CH 7. Our scores are over 660.
Can anyone chime in? What are our rights? Should be accept this?
Bankruptcy Wizard
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