Credit Reporting for Ride Through Mortgage

[SleepWellNow]

We were discharged of our mortgage in Chapter 7. We did not reaffirm but was granted a loan modification while in active bankruptcy. The loan modification went into affect right after our discharge. On my husband's credit report, it shows the mortgage loan with a zero balance and "included in bankruptcy". On my credit report, is shows the current balance of the loan and the payments are being recorded. Since we are paying on time, it is being shown as a good account. Although they shouldn't be reporting on this loan, I'm thinking I'm better off leaving it as-is to help re-build my credit. Am I viewing this correctly?

[help1234]

Same thing happened to us, except we did NOT do a loan modification. Everyone advised to let it be as it was reporting as a "good" account on my report for rebuilding.

[IBroke]

Although they shouldn't be reporting on this loan, I'm thinking I'm better off leaving it as-is to help re-build my credit. Am I viewing this correctly?

Yes, you are. And in case something goes wrong with the mortgage in the future, you can still claim they shouldn't have reported in the first place and have all derogatory information after the filing-date removed.

[SleepWellNow]

Thank you for your responses. Now I am working on getting BofA and Chase to take off the late reporting after our filing date. According to my attorney, the last month of reporting should be the month of filing. I already disputed this on-line with Experian and they would not remove it. Now I am sending my dispute in writing. I'll see how that goes. If they refuse again, I'll try one more time in writing (to show 3 attempts) then turn it over to my attorney to go after them. Where is that "Easy Button" when you need it? Hahaha!

[discombob1]

Thank you for your responses. Now I am working on getting BofA and Chase to take off the late reporting after our filing date. According to my attorney, the last month of reporting should be the month of filing. I already disputed this on-line with Experian and they would not remove it. Now I am sending my dispute in writing. I'll see how that goes. If they refuse again, I'll try one more time in writing (to show 3 attempts) then turn it over to my attorney to go after them. Where is that "Easy Button" when you need it? Hahaha!

Will you please let us know how that goes? I still have an account reporting lates after filing but not after discharge. Trying to decide if it's worth fighting.

[Amy26]

Experian is the worst credit bureau to repair your report. They generally will not budge on most accounts no matter how much you bug them. My strategy has been to ignore experian and work on Equifax and Trans Union and only go to creditors that will use those two. But I do wish you luck and hope you get somewhere! Keep us updated!

[SleepWellNow]

Equifax and Trans Union are reporting correctly. Only Experian is reporting incorrectly. I sent them a letter, a copy of my discharge and a document showing my filing date. If this doesn't work, I think I'll also send an email to the Executive Offices of Bank of America and Chase and see what happens. I'm a big believer of starting at the top! I'll let you all know as soon as I hear something.