Ride throughs DO report to Credit Bureaus!

[Stilltheone]

I pulled our credit reports a few days ago and found something interesting.

All of our IIB accounts were listed, but our mortgages AND car are still reporting.

We did a ride through on our mortgages and signed a reaffirmation for our car.

After we filed BK, we kept getting car dealership info in the mail, talking about how if we kept our current vehicle we wouldn't get "credit" for making on time payments because they don't report. I thought the same was true for ride throughs for mortgages.

It worries me because we are almost a month behind on our mortgage right now (plan to catch up when we get our tax return) and I thought it wouldn't be reported as being late.

[Cali]

Why did you think it wouldn't report as being late?

[Stilltheone]

I was told that once you include an account in bankruptcy, it stops reporting to the credit bureaus. Technically, both my car and mortgages were included in bankruptcy.

Our attorney also told us this. Once we filed, our mortgages especially, would stop reporting because they were IIB.

As of right now, our mortgages haven't reported us as late. BUT, I was surprised when I saw that they (and our auto lien holder) were still reporting AT ALL.

[laurannm]

It does happen, but seems to be pretty rare. Our 2nd mortgage (which we did not reaffirm) is through First Horizon and they appear to still be reporting.

[CindyLou]

My ride through on my car reported a zero balance and included in BK.....

[Flamingo]

I was told that once you include an account in bankruptcy, it stops reporting to the credit bureaus. Technically, both my car and mortgages were included in bankruptcy.

Our attorney also told us this. Once we filed, our mortgages especially, would stop reporting because they were IIB.

As of right now, our mortgages haven't reported us as late. BUT, I was surprised when I saw that they (and our auto lien holder) were still reporting AT ALL.

Doesn't work that way. We paid our first and second mortgages outside of our Chapter 13 plan. While technically both were included in our BK, since we paid them outside of our plan and kept on making the monthly payments, they are listed as normal accounts, paid on time, and not under our bankruptcy on any of our credit reports, which helps our credit. So if you make late payments on your mortgages after your filing, it is going to show up as such.

[2Bshinyandnew]

I was told that once you include an account in bankruptcy, it stops reporting to the credit bureaus. Technically, both my car and mortgages were included in bankruptcy.

Our attorney also told us this. Once we filed, our mortgages especially, would stop reporting because they were IIB.

As of right now, our mortgages haven't reported us as late. BUT, I was surprised when I saw that they (and our auto lien holder) were still reporting AT ALL.

I was told something similar. The way I understood it, if you don't sign a reaffirmation agreement with your mortgage/lien holder, either because you chose not to OR the creditor doesn't offer reaffirmation agreements, and you continue to pay (ride through), the creditor does not have to report timely payments to the credit bureaus. They still can, but they don't have to. The lawyer explained to me this is one of those issues where there are no hard and fast rules.

In this case, it looks like your mortgage holder has chosen to continue reporting, which they can do if they chose. Sounds like it may be an uncommon occurrence, but not impossible. Since they are reporting, I think they can also report late payments.