Dilemma

[oldrocker]

The wife and I filed our 13 two years ago. After checking my credit report I see that the bank with our boat loan is still reporting everthing normal; paid as agreed, never late. They are on the creditor matrix so they were notified. So, do I inform them or just let it ride? Any reprecussinons if I just let it ride? As it is now it just helps my credit score, but I don't know if there could be a downside in the future. The loan is for several years beyond the end of our 13.

Thoughts?

[lrprn]

If you are going to ask the boat loan company to change the loan status to IIB and $0 balance (what it should be) and you don't anticipate a need for a car loan inside your 13, then you might as well get the change request over with now to let your lowered credit score 'bake' a few years and climb up again before discharge. (Anyway, after the bk your credit score hit may not be as bad you think.)

[krielly]

Even if down the road, the boat loan info does change, I wouldn't think it would help to hasten the process..... wouldn't the negative account age based on date of first delinquency (or date of the BK filing, if not delinquent)??

Our RV payment was never changed in 5 years to IIB. It still continues to report on time and as a positive account.

I say, why rock the boat? I don't see any benefit.

K