mortgage not reporting

Anonymous · ‎03-30-2009

I was trying to figure out why one fico score was so much higher than another and I realized my mortgage loan payments are not being reported on TU. I had a ch 13 discharged several months ago and continued making the mortgage payments each month on time since the ch 13 filing in 2005. TU reports that this mortgage loan balance is $0. Should I dispute? How can I get the bank to report payments, etc. to TU?

Anonymous · ‎04-29-2009

Not all OCs report to all three CRAs. But I would call the OC and ask about their CRA reporting.

Anonymous · ‎04-29-2009

There is no requirement for a mortgage company to report your payments to a credit reporting agency. When someone files bankruptcy and receives a discharge, the underlying debt is discharged - meaning you no longer have personal liability for the debt. In the case of a mortgage, the creditor still has the home/land as collateral and can foreclose on the property. They just can't try to collect the debt from you. Because the debt was discharged, all the mortgage company can report on your credit report is 0 owed and discharged in bankruptcy. You cannot force the mortgage company to report your payments after filing bankrupcy. While I don't recommend you do so, you may want to re-finance your mortgage down the road when your credit has improved and that mortgage lender will probably report your payments to the credit bureaus.

krielly · ‎04-30-2009

We also filed our 13 in 2005 (5 year plan) and pay our mortgage outside of the plan.

While there is NO requirement that they report, this doesn't mean that they won't. I made some calls and wrote some letters to our mortgage lender and requested that they do report our on time payments.

I've had limited success. They report for a while, and then somehow it stops. I wiill keep at it. Unfortunately, it is still coming up as a derogatory account, because of the "IIB" notation. It also sometimes shows as a closed account......

Doesn't hurt to try to get them to report, but be aware you may have to be persistent.

Good luck.

K

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