Car loan listed as negative account in reports

[bluehue79]

I was just discharged at the end of May. My attorney initially wanted me to try to reaffirm my car loan but due to the fact that I only had a handful of payments left, the lender didn't send back the reaffirmation papers. I paid off my loan in full back in March and received my title not long after. I checked my credit report and it's listed as included in the bankruptcy through all the bureaus. I disputed them and so far Experian has come back saying that it's correctly reported. I don't know if I should dispute it again or call the lender or Experian.

[disconapper]

But was it also in your petition? If so, it was included in your bankruptcy.

[df04527]

Yeah they are following the rules by reporting it as IIB.

[bluehue79]

That sucks. So 6 years of paying the loan off is basically wiped clean due to filing for bankruptcy? They were on the petition but so were my student loans. I was under the impression that all creditors had to be included on it regardless of whether a discharge was expected for those debts. The student loans are listed in good standing. Bankruptcy is so convoluted.

[disconapper]

It does suck, but it is what it is...student loans are a non-dischargable debt just like taxes so they will continue to report like before the filing

[df04527]

Suck- yes - fair - no -- are they worried about you and your credit report? no -- they are more worried about violating ANY laws - they were notified of your BK, they then followed the law and updated the accounts as such. If they didn't do that - they stand a good chance of someone suing them for violations. A no-win situation. Now i will say that if it's a smaller credit union or bank - you "may" be able to call them or better yet write them and ask them if they will change the way they are reporting it. Sometimes they will but don't hold your breath.

hth

[IBroke]

If you were current until you filed, I wouldn't worry too much. In a manual review, lenders would focus on how you paid on the auto-loan in the past. The fact that it is an IIB-account is not your fault - that's just how it is. You wanted to reaffirm and that it's IIB wasn't your choice - it's the law. I'd simply request a letter from your lender, stating that you always paid on time and that it's paid off. That letter might help when you are seeking a new auto-loan in the future.

[bluehue79]

Thanks for the replies. For now, barring any problems with my car, I won't be applying for any car loans anytime soon. When I do come to that point, I do have the letter from my lender stating me that my loan was considered paid in full as proof.