Dismissed Vs Discharge Resulting Credit Report

[jabkitts]

My husband and I filed for Chapter 13 almost 3 years ago.

We agreed to a 3 year plan and about 1/2 way thru my husband got a wonderful job offer. We proceeded to have numerous conversations with our attorney and eventually chose to dismiss vs completing it. Our monthly payment would have increased from $1450.00 to $4000.00, there was only 1 secured creditor that had a balance of approximately 18000 and the difference where we surrendered my vehicle along with some credit cards.

Our attorney advised us to not to contact the creditors but as they contacted us to attempt to settle with them(other than the secured one which the attorney worked out the agreement for $1000.00 per month. It was true savings vs the big payment.

So our journey took another route.

Roll forward 17 months! We owe one more payment on the secured note, kept our home mortgage payment current for entire 36 months, and settled the vehicle difference for $5000 vs the original $8000.

We have also settled with all but two of the unsecured creditors. We paid cash fot my dh a vehicle for work and was able to put a heat pump in last spring.

Once the secured note is paid in full though I am going to need a vehicle so I pulled our credit reports and could have cried. They don't reflect all the payments we have made to various creditors. The vehicle note shows as sold to another party and doesn't reflect the $5000 at all.

I had agreed to settle with one of the remaining two creditors on Friday but after seeing the credit report wonder if it is even worth it.

I don't know if this makes any sense but any words of wisdom would be appreciated!

[justbroke]

It happens. Many people find that with even reaffirming debt, it's not always reported. If your credit was clean before filing, it should be clean now. The payment history would not have mattered much IF you had poor credit 2.5 years ago. While 2 years "could" get you back into the mid-600s (FICO) with timely payments, the history is still there on the report.

Unless your score is below 640, why are you worried about what is not being reported? From what I'm reading, you have had at least 3 accounts that were "settled for less than the balance" and that's almost as bad as paying 120 days late.