Rebuilding Your Credit

[Workin4aLivn]

I filed bankruptcy in July 2010 and it was discharged in Nov. 2010.  I had an auto loan included in that BK, but I kept the car and continued to make payments on it.  I have finally paid it off in a settlement offer and received the title.  The loan still shows as discharged in BK on my credit reports.  Would it do any good, or is there any other status it could be updated to if I send the credit reporting agencies proof that the account was settled, or should I just let it alone at this point.  I'm trying to maximize my score for a home loan.

Any advice appreciated.  Thanks!

[JM-AM]

The change in status may actually be more harmful then good.

I would leave it alone in my opinion.

[Workin4aLivn]

That's what I'm worried about.  Since it was included in my BK, they aren't allowed to report anything further on it, so I guess I'll just leave it alone.

[guiness56]

I'm confused.  If you kept the car and made payments, did you not reaffirm the loan?

If you did, it should not state included in BK.

[Workin4aLivn]

No - I did not reaffirm the loan.  I wanted to keep the car but still owed too much and my lawyer advised against reaffirming the loan, so I simply made payments, they accepted them and then ultimately they accepted a settlement offer for less than the full balance due and sent me the title.