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Discharged! But auto loan still shows open?

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    #1

    Discharged! But auto loan still shows open?

    I was discharged 1/4/2011 for Chapter 7. I just pulled my credit report today and saw that all of my debts have been discharged, with the exception of my car loan which still shows it's open.

    I listed it as a secured debt on the BK that I intended to "ride-through" with. I have not heard from either the court or the credit union in terms of a motion against it. I am planning on contacting the credit union to see what's going on but who should I be dealing with at this point? The credit bureaus?
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    #2
    If you are planning to do a ride-through, you might not want to contest this with the credit bureaus. That way, as you make payments on time it will show and reflect as a account in good standing.

    Many times, the accounts are listed as IIB even when doing a ride-through. They are actually doing you a favor by not listing it that way if your intention is to continue paying on the loan anyhow. Technically it should show as a IIB, but if it was me I would be glad it didnt. Just my thoughts though.
    8-07-09-filed Chapter 7
    11-18-09-DISCHARGED!!

    Life is not what challenges you face, but how you face those challenges.

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      #3
      Originally posted by NoMoreCards View Post
      If you are planning to do a ride-through, you might not want to contest this with the credit bureaus. That way, as you make payments on time it will show and reflect as a account in good standing.

      Many times, the accounts are listed as IIB even when doing a ride-through. They are actually doing you a favor by not listing it that way if your intention is to continue paying on the loan anyhow. Technically it should show as a IIB, but if it was me I would be glad it didnt. Just my thoughts though.
      I can copy that. Do not dispute it. Having payments reported without an IIB-notation and reaffirmation is as good as it gets.

      Our auto-loan is reporting in the same way and I couldn't be happier.
      Filed CH7 9/24/2010, 341 on 10/28/2010, Disch.&Closed: 1/6/2011. FICO EX: 9/2: 672.
      FICO EQ: pre-filing: 573, After BK Public Record: 568, 10/3: 673.
      FICO TU: pre-filing: 589, After BK Public Record: 563, 9/2: 706.

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        #4
        I suppose it's not necessarily a bad thing by them still reporting then. I have just been 30+ days delinquent on that loan for the past 9 months now, so I thought it would be better to just list it as IIB. My budget has been adjusted though so I should be able to stay current with it from here on out. Thanks guys!

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