Ok in 2013 I filed chapter 13 bankruptcy. At the time I had two auto loans. I wanted to keep our cars so we decided to pay them outside of the ch13. When the ch13 was filed those accounts were closed on my credit report. During the five year repayment time I paid off both car loans. Now 4 months post discharge those accounts are still showing as negative accounts on my credit report even though they were paid off with no missed payments. I even paid them both off a year early. The question is....Is there a way to get those companies to change the reporting to show the accounts were paid off and is a positive account??? Or are they just stuck showing account closed-Bankruptcy?
The companies are GM Financial and Ally Financial.
Thank You for responding. I am going to write them. What's the worst than can happen right?!?!
I had a similar situation with Alphera Financial Services (BMW Financial). Had to pay the loan outside of my CH13 since I'd just bought the car and the loan length was longer than the expected length of my CH13. Made all payments on time throughout the 4 full years of my BK. Alphera stopped reporting payments as soon as they were notified that I'd filed, and marked the account IIB/closed, even though it technically wasn't. I still had a year left on the loan after BK discharge, so I called them last July to see if they would resume reporting payments. They refused, stating it was "company policy". I traded the vehicle in a month later and had it paid off. The status of the account has never changed (IIB/closed).
That blows! I was so proud of myself paying off two cars, both a year early. Now they are weighing my credit down. I'll call them and see what they tell me. I will update.