How should an auto loan look on credit report?

[lookingforward]

Can someone who's already been through this tell me what credit reports are supposed to say about a car loan that has been (or will be - filed 6/10 and 341 is 7/30) reaffirmed?

My report says "Debt included in or discharged through Bankruptcy Chapter 7, 11, or 12"

And instead of showing current, there is a big red "KD" on the month of June.

I paid June, in full, on time! Apparently "KD" means key derogatory.

Why bother paying on time right now?

[optimistic1]

If you dont pay on time, then they might reposses it, although I dont think they would bother.

When I filed a 7 along time ago, my credit report said the same thing, I didnt reaffirm though, I just kept paying it like normal, but it was listed in my petition.

[aces67]

Wait you mean if I keep my car and pay my note on time every month it may still show up as a negative on my report?

[justbroke]

Yep! You may have to ask your creditor if they'll report. Some of them won't because their system can't handle the BK information properly so just mark everything as IIB.

[aces67]

Will my mortgage be the same way? I did sign a reaffirmation on it.

This may be just what I need to get dh to give in on surrendering my car.

[justbroke]

Will my mortgage be the same way? I did sign a reaffirmation on it.

It depends on the lender. Some of them seem to be able to do this easily (with a reaffirmation).

[HHM]

A credit report is a record of "your" credit history, not a record of the security interests in your property.

When you file BK, unless you reaffirm, you discharge your personal responsibility for the debt. Thus, on your credit report, for purposes of "your" credit history, the account is included in bankruptcy and will/should reflect that entry and they will also stop tracking payment history.

[OhioFiler]

Wait you mean if I keep my car and pay my note on time every month it may still show up as a negative on my report?

Unless you reaffirm the debt the lender can't report your payment status. You don't owe the debt any longer. How can you be on time or late with a payment that doesn't have a due date?

Nevermind!

[aces67]

Thanks!