Reaffirmed car loan in Ch 7 BK not reporting payments on credit reports

[Timesaves]

Hi.  I want to thank everyone for the information I have learned in just two weeks being on the site. My Ch 7 was Discharged in Aug 2014. I signed and completed the paperwork to have my auto loan reaffirmed.  I verified it in the credit union. I haven't missed any payments, but all three credit reports report the original balance of $25,000. I have now paid the loan down to $17,000. I had a signature loan with the same credit union, but it was discharged in the bankruptcy. 

Is the credit union required to report my updated balance each month on my auto loan?

Thank you 

Timesaves

[0REDSOX7]

Unfortunately, lenders are not required to report payment history if a tradeline has been reaffirmed.

With that being said - have you called and asked them if they will?  I do know, some lenders will not do it unless you negotiated it in advance.

[Timesaves]

Thanks for responding 0REDSOX7. I couldn't reach them by phone and there's no voice mail box. The credit union is located in Wash D.C., I may just send a certified letter if I can not make contact by phone.

Thanks,

Timesaves

[MB2714]

Just file a complaint with the Consumer Financial Protection Bureau. I did that with Ally and they reported within days of my CFPB complaint against them.

[StartingOver10]

As stated up thread, the lender is under no obligation to report your payments to the CRA's.

There is an exception though - if you put the reporting requirement in the Reaffirmation Agreement at the time you reaffirmed the debt they would have to report.

For you it is too late to add this clause, but for others in the process they can add it to the Reaffirmation before signing and submitting to the lender. I did and it worked. I just hand wrote it in the agreement along with several other items, my attorney wouldn't change any part of the agreement, but he signed it.

[Timesaves]

Thanks for your quick response. Someone else replied that it was too late, because I didn't include it in writing in my affirmation agreement.

When the car loan is eventually paid off, are they at least required then to report a zero balance?

[Timesaves]

Someone else wrote in the thread that it was possible. I'm showing that the car loan balance is being reported to transunion, but I never get an alert stating there has been a balance decrease. 

[Alpha]

Just an FYI for people who are reaffirming their auto loans. Ford Motor Credit does report  and as a bonus they will give you a waiver of the payment the first month after your duscharged is final.

[ezdriver]

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@Alpha wrote:

Just an FYI for people who are reaffirming their auto loans. Ford Motor Credit does report  and as a bonus they will give you a waiver of the payment the first month after your duscharged is final.

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That is a nice gesture on Ford's part. Good to know.

[MattP2144]

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@Alpha wrote:

Just an FYI for people who are reaffirming their auto loans. Ford Motor Credit does report  and as a bonus they will give you a waiver of the payment the first month after your duscharged is final.

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did you have to ask for the waiver of the first payment? They didnt offer me that, and my discharge was 6/12/15 i reaffirmed with ford and they reported to the bureau and everythign which is nice...