What should I do if my chapter 13 (from 2004) was dismissed?

[Anonymous]

I purchased a car and it was repo back in 2004.  I ran my report with "annualcreditreport" and didn't see it listed at all.  My credit had improved but I think Equifax still have the bankruptcy listed. Equifax: 0 (didn't buy), Experian: 641, and I believe TU: 671.

I know I have to find the bank who I owe (this is going to take years).  Most banks filed bankruptcy and are not listed on the credit report; just the court info.  I did make payments on the account in 2011.  I know it will bounce back on my credit report and I probably could ask to work out a deal.

Anyway... I have been looking for a house for 2 years now and finally decided that I am ready to buy one.  I have been pre-approved as a first time home buyer and I know the lender (underwriters) will pick up on the bankruptcy.

Any suggestions on what I could do?  I really want to purchase this vacant lot and rebuild on it.  I want to put an offer in ASAP.  This might be the only best opportunity at this time.  The price is low and I am building a modular home of my choice.

Any suggestions?  Thanks

[Anonymous]

Hi jackies351 -  Welcome to the forums!

I'll try to respond to part of this and others will likely chime in as well.

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@Anonymous wrote:

I purchased a car and it was repo back in 2004.  I ran my report with "annualcreditreport" and didn't see it listed at all.  That was 7-8 years ago.  Other folks more knowledgeable about how long repo's will report will chime in with some info for you.   My credit had improved but I think Equifax still have the bankruptcy listed.  From your subject line, I take it that you filed in 2004 and it was dismissed.  EXperian and TransUnion will report dismissed CH 13 BK's for 7 years, but EQuifax will report them for ten.  So it's likely to stay on the EQuifax report for another two years. That  Equifax: 0 (didn't buy), Experian: 641, and I believe TU: 671.  It looks like you purchased some non-FICO "credit' scores from other websites.  Unfortunately, these will be different than your true FICO scores - which are the scores your mortgage company will use.  You'll want to know your FICO scores as you move forward.

I know I have to find the bank who I owe (this is going to take years).  Most banks filed bankruptcy and are not listed on the credit report; just the court info.  I did make payments on the account in 2011.  I know it will bounce back on my credit report and I probably could ask to work out a deal.

Anyway... I have been looking for a house for 2 years now and finally decided that I am ready to buy one.  I have been pre-approved as a first time home buyer and I know the lender (underwriters) will pick up on the bankruptcy.  If you have been pre-approved, they likely pulled all 3 credit reports.  If so, they are aware of the BK. An "aged" BK is not a deal breaker for getting a mortgage.  You also might want to check with them and see if they will let you see or have a copy of your credit reports, along with your FICO scores.

Any suggestions on what I could do?  I really want to purchase this vacant lot and rebuild on it.  I want to put an offer in ASAP.  This might be the only best opportunity at this time.  The price is low and I am building a modular home of my choice.

Any suggestions?  Thanks

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Well - that's a start.  Hope it was a little helpful.  I'm sure someone else will chime in on the repo reporting, as well.