Credit Report

[xoxoamandajo]

I'm sure I'm likely over reacting and just worrying for nothing. However, I'm hoping someone here will reassure me as my lawyer's office is closed and will not be available until Friday.

I started getting all types of alerts on my credit report. Which, I knew this was coming and I was intentionally avoiding looking at it until after the discharge, which is scheduled for 7/13/20.

Anyways, all of my student loan accounts have been closed....my mortgage account has been closed (I'm keeping the house and still making the payment).....I was told my student loans wouldn't be included. Is this something that happens until discharge and then everything goes back to reporting as it was before? Will the accounts suddenly pop up as new accounts and start reporting? I'm just trying to prepare myself mentally so I know what to expect as I started to make a rebuilding plan for after discharge and want to stick to it.

[justbroke]

This is normal. Creditors inform the credit bureaus that the accounts were included in bankruptcy. Your mortgage, if discharged, will not report "normally" when your case closed since it was discharged. Your student loans will likely start reporting again (mine did) sometime after the case is closed. (Please don't ask me what "sometime" means.) They should not show as new accounts, just the status would change.

Post discharge (and close) your credit report will go through a rollercoaster ride. There's no way to tell for any individual how the ride will play, but I suggest waiting until a few weeks after your case closes. Then do your disputes and see where your credit settles. Then you can make plans to rebuild your credit.

[xoxoamandajo]

Thank you, I'm glad its something normal. Any idea about mortgage? My lawyer told me I can keep the house and to just keep making my payments. Will it likely go back to reporting in good standing and show my payment history? I wish these were things I thought of to ask beforehand! Then I see you mention disputing things. I hadn't thought of that. I've done disputes before but didn't think about possibly needing to do any after discharge. I think I better go read up and prepare myself some more.

[justbroke]

For your mortgage, it seems like it will just discharge. The creditor will not report the ontime payments because you are not personally liable for the payments. I would not worry about this mortgage payment history. It is much much better to discharge a mortgage than it is to reaffirm a mortgage solely for "credit reporting" purposes. There are way too many stories about those who reaffirmed, only to be found in a bad positions years or even months later. (Take for example the current pandemic.)

[xoxoamandajo]

Whew....so does that mean the mortgage company won't give me any issues about keeping my house? They haven't said anything but I just went by the lawyer saying I could keep the house and assumed it would just report as usual.