Hi I am almost one year since my discharge out of bankruptcy. We did 5 years and a chapter 13. I am applying for a loan for a work vehicle but I am being told that my mortgage and second mortgage is not being reported. I did pay them separate from the payment plan. Does anyone know why this is? Thanks
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almost one year since discharge but..
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Many mortgage companies stop reporting to the credit bureaus when a BK is filed to avoid being accused of violating the automatic stay. You may be able to get them to start reporting again, but no creditor is required to report activity on your account. If this is an issue for the auto loan, maybe the lender will accept evidence of timely mortgage payments.LadyInTheRed is in the black!
Filed Chap 13 April 2010. Discharged May 2015.
$143,000 in debt discharged for $36,500, including attorneys fees. Money well spent!
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Originally posted by spidge View PostJust don't reaffirm the mortgage just to get them to report then buy a car. Now I don't know all the rules in this stuff but can you incorporate and buy the vehicle then?LadyInTheRed is in the black!
Filed Chap 13 April 2010. Discharged May 2015.
$143,000 in debt discharged for $36,500, including attorneys fees. Money well spent!
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Originally posted by LadyInTheRed View PostA debt cannot be reaffirmed after discharge. To be back on the hook, the OP would have to refinance. If he can't get a loan as an individual, creating a corporation would not help. The lender won't lend to a new corporation without a personal guaranty from somebody who could qualify for the loan themselves.11/23/'10-filed ch 13. 1/6/'11-341, confirmed. Below median. Plan completed 11/30/2015. DISSCHARGED 4/4/2016.JP
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Originally posted by spidge View PostYour saying the mortgage cannot be reaffirmed after the BK?
My credit union was reporting on my 1st and 2nd mortgage like clockwork. Then I made the mistake of paying off my 2nd mortgage. I guess that got me reviewed because now they won't report the 1st mortgage.
Lenders are fickle.Chapter 7, above median, no asset. Discharged with no UST involvement.
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Originally posted by spidge View PostYour saying the mortgage cannot be reaffirmed after the BK?LadyInTheRed is in the black!
Filed Chap 13 April 2010. Discharged May 2015.
$143,000 in debt discharged for $36,500, including attorneys fees. Money well spent!
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