Vehicle still reporting after Ch7 Discharge?

[6thsense]

So I pulled my credit report and noticed my vehicle financed through America Honda Finance Corp is still listed. I've been paying it as I will keep this vehicle. It shows my last payment.

Is it normal to have them still report to credit bureaus? I guess this is a good thing as long as I keep up the on time payments. I was under the impression that they would not report it.

[lrprn]

Is it normal to have them still report to credit bureaus? I guess this is a good thing as long as I keep up the on time payments. I was under the impression that they would not report it.

First, no secured creditor is ever required to report payments to the credit agencies whether you file bk or not. It's always voluntary.

After you file bk, most secured creditors will stop reporting payments because a loan that was not reaffirmed is no longer collectable. If you decide to stop payments on the asset, the lender has to eat whatever money you still owe them (although they can legally demand that you return the asset). If your car lender is still reporting payments to the credit agencies after you filed, then be happy - it's a rarity.

Creditors use filing bk as the reason why they won't report payments on car and house loans almost 100% of the time. Interestingly enough, many filers and some bk lawyers believe that not reporting asset payments is just a legal way for the lender to punish you for filing and not reaffirming. It takes longer to recover your credit standing if they choose not to report on-time secured payments.

[nomoneynomore]

Wow, I'm surprised and impressed. We reaffirmed both our vehicle and home loans and they still show as included in bankruptcy, even after completely paying them off! Count your self lucky there.

[jribe]

So I pulled my credit report and noticed my vehicle financed through America Honda Finance Corp is still listed. I've been paying it as I will keep this vehicle. It shows my last payment.

Is it normal to have them still report to credit bureaus? I guess this is a good thing as long as I keep up the on time payments. I was under the impression that they would not report it.

I have a non-reaffirmed Honda loan as well- that reports currently. It's been 6 months after discharge.