Payoff auto loan after BK

[tripbuddy]

If you have a car loan that you don't reaffirm in BK, but you pay it off after, will it report to credit bureaus once paid in full?

If not, I might have made a mistake not reaffirming our nearly paid off vehicle last year. Just paid it off last week, so too late to reaffirm now.

Crossing fingers that they will note " paid as agreed" or whatever. Anyone know?

[HHM]

There is no obligation for the creditor to report it as paid in full. Odds are, the lender will not report. Once the debt is BK'd, that is the last event when the debt was still live.

You DID NOT make a mistake. Your credit will recover regardless.

[tripbuddy]

Thanks, HHM. I wasn't confident that car would stay reliable, so gambled on NOT reaffirming. I just checked our credit karma (not true FICO, I know, but an ok snapshot, right?) That first score they give (supposedly following TU model) was 691. Kind of sad to be below 700, but not as bad as I'd feared. Not sure I want to spend $ getting a true FICO. so not having the paid off car on my credit report isn't the end of the world. Plus I'm sure if I'd reaffirmed it, the engine would have died on us, lol.

[SMinGA2]

While its not Fico, its free & over time can indicate progress. I use CreditKarma for TU and CreditSesame for Experian. It keeps my curiosity satisfied enough that I don't waste money on 'real' scores.

You could try disputing w/ the bureaus saying that its paid in full. (Which is true.) May not change anything, but no harm in trying.

[4powells]

I just had a similar situation. When I filed in November, I had not yet made the final December payment which was #60 on my load with Wells Fargo. I had to include the debt in the BK as it existed at filing time. I made the final payment on time in December and received title and a letter showing the loan was completed as agreed however the loan being listed on the BK but not affirm it, it shows as "INCLUDED IN BANKRUPTCY." I've disputed it, but it probably doesn't matter.