We reaffrimed, good then sucks now

[BRAUNSTEN82]

So me an my GF filed in april 08 and discharge in july 08. Had a truck and own 22K with 16% rate and 425 month.
They offered 15K 8% and $340 mo to reaffirm. Sounded great. Well it never show on the report, nor do the payments i make on time.

So does that mean if im late on a payment its not gonna show, or if i turn it back in that its not gonna show on the report. I also had the idea just purposly be late so maybe it would show all the payement that i do have on time. So that i can build up some credit. Would like to get a house before they cancel the tax credit. Can someone tell me the options.

[dingdong]

Call up your lender and tell them you reaffirmed and ask them if they can start reporting the TL to your CR. Might work.

[BRAUNSTEN82]

I did they said that when you reaffirm i doesnt show, but if we were late that it would show the late payment, but not the regular ontime payments. But that doesnt make sense since the report agency uses a monthly calender to post ontime an late payments.

[StartingOver08]

If you are looking to buy a house - right now the underwriting criteria is 2 yrs out of BK. Keep a record of your on time payments for this reaffirmed loan (copy of cashed checks will do) to provide to the underwriter and they will review it as part of your history. Its called manual underwriting - it is still done, just not as frequently anymore.

[BRAUNSTEN82]

yeah but its not going to contibute to the fico score, plus if i could just get rid of the truck a get something else, id rather.

[StartingOver08]

yeah but its not going to contibute to the fico score, plus if i could just get rid of the truck a get something else, id rather.

This is true. But you reaffirmed the loan, right? If you give it back now a repo after a BK is a score killer.

If you pay off the loan that is different.

[momof3b1g]

Thats stinks! They show the no payments but not the payments you did make. HMM nice!!

[jessegirl]

Once you reaffirm they got you. You cannot just give it back without having a repo on your credit. Why don't you contact the credit bureau and see if you can go thru them to correct it...

[BRAUNSTEN82]

Credit bureau says its up to the lender, but when you reaffirm they normally dont. That is why i though about being late in purpose one time just to get all the rest of the payments to show.

[BRAUNSTEN82]

Does anyone think this will work

[TEW]

It's up to the lender IF they report on your CR there is no benefit to a reaffirm.

[StartingOver08]

I wouldn't put a late pay on the car just to get the recent history to show - the lenders are terrible about reporting the correct info as it is!

Just realize that you need to pay on time now and this one is not going to count toward your fico.

You could try a "Goodwill" letter to the OC to see if they will consider reporting your ontime payments. It's worth a shot and it is better than being late to get their attention.

[bob]

My bet is your debt is not reaffirmed as your attorney didn't sign off. Call the court and see if a reaff form was filed by the lender with the court. If they are not reporting they probably ignored your reaffirmation request. Which means your off the hook if they grab your vehicle.

So me an my GF filed in april 08 and discharge in july 08. Had a truck and own 22K with 16% rate and 425 month.
They offered 15K 8% and $340 mo to reaffirm. Sounded great. Well it never show on the report, nor do the payments i make on time.

So does that mean if im late on a payment its not gonna show, or if i turn it back in that its not gonna show on the report. I also had the idea just purposly be late so maybe it would show all the payement that i do have on time. So that i can build up some credit. Would like to get a house before they cancel the tax credit. Can someone tell me the options.