Ch 13 Credit reporting, CR payment histories--how it works
Ch 13 credit reporting
Any one out there who can answer this ill give a big cyberhug to you.
Ive been in an active Ch13 for almost 2 years now. I pulled my 3 credit reports the other day to take a look at how things were being reported. Everything looked as expected and all items except my first mortgage were marked with included in ch 13. My first mortgage was not marked this way as it was not included in my ch 13 plan and is paid outside of the plan regularly. All my payment history for the first mortgage was still listed on the credit burea report as well as the payment history on all items included in the ch 13 petition.
My confusion is the following,,while reviewing the payment history on that first mortgage I noticed one payment discrepancy so I disputed it. What happened after the dispute was part good /part bad. They fixed the error but then the creditor(citimortgage) also changed the account to read as Included in Ch 13. I disputed that and in response they changed the account to read (in W.E.P plan )and proceeded to conceal(remove) 5 years of good payment history. Subsequently my credit score dropped 45 points after being stable for two years at around 580, this is with Equifax by the way.
The other bureaus scores also dropped a little when Citimortgage recaracterized the way they are reporting the 1st mortgage.ie(payment history gone as well as highcredit limit and balance)
Can they do this and why? The 1st morgage isnt part of the bankruptcy and they have been reporting the payment history for 2 years now. I called equifax and they have no explanation ready to give about why things work the way they do. I also called Citimortgage and the creditor says all my accounts are considered under ch 13 so therefore that is why they report in this manner. I asked them why the change of heart after 2 years of reporting it normally with the payment history and the customer service rep had no answer other than they have the right to not report payment history. Funny thing is that i have a 2nd mortgage with citi and they are still reporting the payment history on that one, and the 2nd was stripped in the ch 13. As a matter of fact every item on my credit bureau shows my payment history still except for that 1st mortgage. What gives??????
Will my payment history be erased forever? will it reappear after the discharge, is what Citimortgage is doing correct? and why are they concealing just one line of very good payment history and not the other???????
Thanks a mil for trying to answer these questions. By they way where does one go to understand what a creditor is allowed and not allowed to report,,Where are all these rules ,, is it available to the public? Equifax seems like clueless ballboy.
Any one out there who can answer this ill give a big cyberhug to you.
Ive been in an active Ch13 for almost 2 years now. I pulled my 3 credit reports the other day to take a look at how things were being reported. Everything looked as expected and all items except my first mortgage were marked with included in ch 13. My first mortgage was not marked this way as it was not included in my ch 13 plan and is paid outside of the plan regularly. All my payment history for the first mortgage was still listed on the credit burea report as well as the payment history on all items included in the ch 13 petition.
My confusion is the following,,while reviewing the payment history on that first mortgage I noticed one payment discrepancy so I disputed it. What happened after the dispute was part good /part bad. They fixed the error but then the creditor(citimortgage) also changed the account to read as Included in Ch 13. I disputed that and in response they changed the account to read (in W.E.P plan )and proceeded to conceal(remove) 5 years of good payment history. Subsequently my credit score dropped 45 points after being stable for two years at around 580, this is with Equifax by the way.
The other bureaus scores also dropped a little when Citimortgage recaracterized the way they are reporting the 1st mortgage.ie(payment history gone as well as highcredit limit and balance)
Can they do this and why? The 1st morgage isnt part of the bankruptcy and they have been reporting the payment history for 2 years now. I called equifax and they have no explanation ready to give about why things work the way they do. I also called Citimortgage and the creditor says all my accounts are considered under ch 13 so therefore that is why they report in this manner. I asked them why the change of heart after 2 years of reporting it normally with the payment history and the customer service rep had no answer other than they have the right to not report payment history. Funny thing is that i have a 2nd mortgage with citi and they are still reporting the payment history on that one, and the 2nd was stripped in the ch 13. As a matter of fact every item on my credit bureau shows my payment history still except for that 1st mortgage. What gives??????
Will my payment history be erased forever? will it reappear after the discharge, is what Citimortgage is doing correct? and why are they concealing just one line of very good payment history and not the other???????
Thanks a mil for trying to answer these questions. By they way where does one go to understand what a creditor is allowed and not allowed to report,,Where are all these rules ,, is it available to the public? Equifax seems like clueless ballboy.
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