@dlynk196 wrote:
Good morning, Forum -
My wife and I filed for Chapter 7 bankruptcy on 4.17.17, and our 341 is set for May 23rd.. We have never been late on our mortgage, and are reaffirming the home and continuing to pay on time throughout this whole process. I logged in to take a peek at my credit report today, and noticed our mortgage lender "Flagstar" no longer has our payment history reporting, no balances reporting, and no monthly payment reporting?
Can someone please let me know if this is normal until discharge and al lthe positive history will be back and they will report moving forward?
Thanks!
D
Yes, that is normal because until your discharge everything is in a state of flux. I assume you filed with intent to reaffirm? That is not legally enforceable, it is only a statement of intent. When all parties have signed the Reaffirmation Agreement - you, your attorney, the court, and the lender - and you are discharged then you have a legally enforceable contract.
The lender should report positive history & future payments, but some lenders have been known to play games. To be on the safe side you should make sure your reaffirmation agreement states that they will reinstate reporting of previous & future payment history to the credit bureaus.
