BK Question (knowledgable persons please)

[Izzy2006]

BK Question - BIGUN OR LADYNRED

What is the name of your state? CALIFORNIA

My BK was discharged in 5/2004.

My 2nd mortgage which was included in the BK is still reporting on my credit report the following:

Recent Balance/recent payment column: $50,000.00 last reported 12/2005

Status: Open/Never Late (Untrue, but this is how it reads)

Creditor's Statement: "Special handling - contact subcriber for additional information"

They don't mention the BK at all... It's most definately on my discharge... it was only 1 of 3 things I filed BK on. (I'm looking at my discharge nd BK paperwork... it's all there.

My Questions:
1. Why are they reporting the amount as if the account is still open???

2. The creditor's statement - Can they do that? Why are they doing that?

3. If they aren't suppose to be reporting this as mentioned above, do I need to send a letter to them? and what kind of letter? I'd like to do it myself if possible.

4. Is it more damaging to my credit report that they are still reporting the 50,000 balance than the BK?

Kind Regards!

 

[JETX]

Why are they reporting the amount as if the account is still open???

Could be any of several reasons. What was their reason when you asked them??

The creditor's statement - Can they do that? Why are they doing that?

Could be any of several reasons. What was their reason when you asked them??

If they aren't suppose to be reporting this as mentioned above, do I need to send a letter to them? and what kind of letter? I'd like to do it myself if possible.

You can certainly contact the CRA and advise them that the debt was discharged in bankruptcy.... and ask them to verify and correct your file.

Is it more damaging to my credit report that they are still reporting the 50,000 balance than the BK?

ROTFLMAO!!!! No. Not much worse than a bankruptcy.

 

[Izzy2006]

LadynRed or Bigun

Is the mortgage company who is reporting my discharged debt as decribed in my 1st post violating the BK laws?

JETX - I have called the mortgage company. First question I asked was what is the "special Handling call for more information" about... I was told it was between them and any future lending institution. Second question I asked them was why they were still reporting as of 12/2005... they said they could do so. I said it was discharged via BK - they hung up on me.

I'm not going to get anywhere with them.

The reason I asked if their reporting was more damaging than reporting the BK was prompted by the fact that they are refusing to report the BK.

Sorry JETX that you "Fell on the floor laughing" at my question... I am not a seasoned law person. If you have distaste for people, who in your opinion ask stupid questions, maybe you shouldn't post on those ones.

Best regards

 

[HomeGuru]

Is the mortgage company who is reporting my discharged debt as decribed in my 1st post violating the BK laws?

JETX - I have called the mortgage company. First question I asked was what is the "special Handling call for more information" about... I was told it was between them and any future lending institution. Second question I asked them was why they were still reporting as of 12/2005... they said they could do so. I said it was discharged via BK - they hung up on me.

I'm not going to get anywhere with them.

The reason I asked if their reporting was more damaging than reporting the BK was prompted by the fact that they are refusing to report the BK.

Sorry JETX that you "Fell on the floor laughing" at my question... I am not a seasoned law person. If you have distaste for people, who in your opinion ask stupid questions, maybe you shouldn't post on those ones.

Best regards

**A: I too, agree with the response from JETX. And I too was laughing on the floor. No one said that you asked stupid questions. Take a chill pill.

 

[Ladynred]

Did you sign a reaffirmation agreement on either of the mortgages ??
If not, are you still paying these mortgage payments ??


Debts discharged in bankruptcy must be reported as 'included in bankrutcy" AND show a ZERO balance.

The bankruptcy on your reports itself is the worst it can get, however, an included debt that is reporting negatively post-discharge CAN be damaging to your efforts to recover and rebuild your credit.