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Should I reaffirm car loan? Will the report to the agencies??

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Should I reaffirm car loan? Will the report to the agencies??

I discharged back on 8/9 and did not reaffirm my car or home loan.  I plan on keeping both and my attorney said I am better off no reaffirming that way if I ever get in trouble in the future, I could walk without damage to my credit...

That said, I would like to build my credit back up to refinance my house in the future to remove PMI and hopefully reduce to a 15 year mortgage... (PMI is for life of loan on FHA mortgages so must refi)


Shortly after discharge I got a LendUp card (300 limit) and a CreditOne card (1500) limit.

Just this week I also got approved for a Capital One card (3000) limit...

 Capital One also approved me for a AutoNavigator loan for something stupid high, like $37k


My TU score on their CreditWise site is 687, but I think my score when I see it on CreditOne card site is like 565.... Why such a huge difference.


IF I reaffirm my current car loan ($6000 so Cap1 wont refi) will Bank of America start reporting my payments to the 3 agencies again??? 


I was contemplating another car, but not sure if that'd be best course of action for long term stability...... which would get me to the best credit score the quickest.


Thanks in advance!!

Message 1 of 2
Community Leader
Super Contributor

Re: Should I reaffirm car loan? Will the report to the agencies??

Hi and welcome to the forums!

I would leave the car loan situation the way it is. Lenders do not have to report you if you didn't reaffirm. Your BK is already discharged, and to reaffirm something again would require your attorney to re-open your BK, and file the appropriate papers.

Just leave it alone. Trust me, you'll rebuild just fine without it, and you'll get approved for a new soon enough.

I would pull a 3-B report here on FICO, and see where what your true scores are right now, and make sure your reports are reporting correctly.

I would keep your car currently as is, paying it, until you've had 6 months of good payment history reporting post BK, then pull your scores again and see where you are.

Who did you burn in your BK for credit??

My rebuild worked for me, but won't necessarily work for you!
BK7 D/C- 08/2013
Message 2 of 2
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