New Member
Posts: 2
Registered: ‎09-11-2012

HELP! Didn't reaffirm mortgages, making payments, monthly updates by bank are KILLING my FICO

[ Edited ]

I filed for BK 9/10 discharged 12/10. I did not reaffirm my mortgage or my HELOC, both with Chase.

I am current and have continued to make payments (riding through).

My credit report shows that both accounts have a zero balance and were IIB.

Every month Chase "Updates" both my mortgage and HELOC so the date of last activity changes.

FICO is considering this as a "Late Payment" and it is KILLING my credit score.

Even though the the notes at the bottom show a reducing balance, and the line item shows a $0 balance.

I have asked Chase to stop reporting this, but they say what they are reporting is accurate and they will not stop. I have called FICO and asked why they were considering it a "Late Payment" and they said they were going by the date of last activity.

I have been perfect since the BK; everything paid on time and have gotten 2 credit cards and a installment loan.

My credit score is 604 almost 2 years after the BK  and FICO says it is because my last late payment was a month ago! How can they count an updating of an IIB line item as a late payment?


New Contributor
Posts: 59
Registered: ‎07-20-2012

Re: HELP! Didn't reaffirm mortgages, making payments, monthly updates by bank are KILLING my FICO

Wells Fargo did the same to me after my BK7.  I had to call them a few times and threaten a lawsuit.  The mortgage cannot report anything unless you re-affirm.  Pull out your BK discharge paperwork.  Make sure it is IIB.  Make a copy of that schedule and send to Chase and all 3 CRAs.  As mentioned in other threads, getting a trade line to report IIB is very easy.


Keep up on your payments.  Your balance owed should report $0.  I was told by my attorney that at any point in the future, we can stop making payments and force them to foreclose.  It will take almost 2 years.  The negative is that it typically takes 3 years to get a new mortgage after foreclosure.


You may want to buy a new house, tell the mortgage company that you will rent out yor existing house.  Then after you close on your new house, you have many options.

MyFICO '08: AUG2014: EQ=707, TU=693, EX=711
MyFICO '08 JUN2014: EQ=700, TU-688
MyFICO JAN2014: EQ=704, TU=720, EX=708
MyFICO MAY13: EQ=701, TU=708, EX=705 (Lender Pull).
MyFICO JAN13: EQ=701; TU = 677) 2 years after filing BK7, 18 months after discharge in JUN11
MyFICO (SEP12: EQ=677; TU=670) 16 months after discharge BK7.
MyFICO (JUL12: EQ=671) 13 months after BK7.

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