I found this on the following site:
There is no duty for a creditor to report payments to Trans Union, Equifax, Experian or any credit reporting agency. The law requires that whatever they report be accurate, but they are free to report nothing.
So, you can file chapter 7, not reaffirm the mortgage, keep paying, keep the house, no foreclosure, but your credit report shows nothing.
Federal law requires the mortgage company to provide at least annual statements, which you can send to the credit reporting agencies yourself, for inclusion in your record. That is a hastle, and not what creditors are accustomed to seeing. When you try to refinance, the potential new mortgage company wants to see information that is familiar to it.
http://www.************************/...ffirmations-2/
Has anyone tried submitting annual payment statements to the credit bureaus? I've never heard of this before and was curious if they would even accept it and how valid it would be on a credit report.
I'm seriously considering not-reaffirming my 2 mortgages because the 2nd mortgage has 3 total loans attached to it and I've been thinking about getting a real "fresh start" by just not reafirming and living there until I can sell it. If I stay there (making payments) another 6 mos past discharge, do yall think it will hurt my score too much to have all of my prior payments wiped from my credit report?
Another quick question. I just received another notification from myFICO.com that shows the bank for my 2nd mortgage just did an inquiry. Why in the heck would they do that without my authorization. It didn't affect my score, but do you think it was to verify the fact that I filed BK. What could they be looking for? Isn't BK public record?
I went online to the bank's website to see if there was any changes to my accounts and the only account that still shows a balance is the credit card. The sign. loan and mortgage show * as the balance. That makes me wonder if they plan to challenge the visa or something. The last time I used it was in October and I've had late pmts, but I'm current.
Shouldn't all 3 accounts be grouped together and sent to their special BK dept? I called the BK dept and the woman I spoke to was vague. She said she just got the loans and didn't know much (which might be true since the credit pull happened on the 21st), but I wonder why she doesn't have the visa? I asked to verify the payment due date for the visa and she said it wasn't in her system and had to put me on hold so that the secretary could look it up.
What??? If this loan is secured, and I'm current can they still challege discharging it?
If they challenge this one, why not the other two? I'm confused.
Sorry for all of the questions. I was told by my BK atty. that this bank is trouble and they are the kings of cross coll. agreements (and they're not even a credit union). I don't trust them at all and I have a feeling I might end up walking away from this house if they don't play nice. My car is paid for and I will just have to start over.
There is no duty for a creditor to report payments to Trans Union, Equifax, Experian or any credit reporting agency. The law requires that whatever they report be accurate, but they are free to report nothing.
So, you can file chapter 7, not reaffirm the mortgage, keep paying, keep the house, no foreclosure, but your credit report shows nothing.
Federal law requires the mortgage company to provide at least annual statements, which you can send to the credit reporting agencies yourself, for inclusion in your record. That is a hastle, and not what creditors are accustomed to seeing. When you try to refinance, the potential new mortgage company wants to see information that is familiar to it.
http://www.************************/...ffirmations-2/
Has anyone tried submitting annual payment statements to the credit bureaus? I've never heard of this before and was curious if they would even accept it and how valid it would be on a credit report.
I'm seriously considering not-reaffirming my 2 mortgages because the 2nd mortgage has 3 total loans attached to it and I've been thinking about getting a real "fresh start" by just not reafirming and living there until I can sell it. If I stay there (making payments) another 6 mos past discharge, do yall think it will hurt my score too much to have all of my prior payments wiped from my credit report?
Another quick question. I just received another notification from myFICO.com that shows the bank for my 2nd mortgage just did an inquiry. Why in the heck would they do that without my authorization. It didn't affect my score, but do you think it was to verify the fact that I filed BK. What could they be looking for? Isn't BK public record?
I went online to the bank's website to see if there was any changes to my accounts and the only account that still shows a balance is the credit card. The sign. loan and mortgage show * as the balance. That makes me wonder if they plan to challenge the visa or something. The last time I used it was in October and I've had late pmts, but I'm current.
Shouldn't all 3 accounts be grouped together and sent to their special BK dept? I called the BK dept and the woman I spoke to was vague. She said she just got the loans and didn't know much (which might be true since the credit pull happened on the 21st), but I wonder why she doesn't have the visa? I asked to verify the payment due date for the visa and she said it wasn't in her system and had to put me on hold so that the secretary could look it up.
What??? If this loan is secured, and I'm current can they still challege discharging it?
If they challenge this one, why not the other two? I'm confused.Sorry for all of the questions. I was told by my BK atty. that this bank is trouble and they are the kings of cross coll. agreements (and they're not even a credit union). I don't trust them at all and I have a feeling I might end up walking away from this house if they don't play nice. My car is paid for and I will just have to start over.
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