How should a reaffirmed account look on credit report?

[chris7]

What is the name of your state? TX
We reaffirmed our home mortgage. It was filed with the court and a court stamped copy was sent to the bank. The bank confirms that they received it. When I pulled our credit reports the mortgage is being reported as discharged in bankruptcy, recent payments $0 and balance $0. One report also lists it as a closed account. Our payments are current. I called the bank and spoke to someone who requested 3 business days to get a reply from a supervisor to figure out what's going on. She said her notes say they are reporting the account as current. Did I misunderstand what signing a reaffirmation would do? I though we specifically did not discharge the debt. Any insight would be appreciated. Thanks

 

[LostinMI]

Not that I can answer your question at all -- but am curious as to the answer you get from someone who knows!! I was under the assumption that by reaffirming the mortgage and making timely payments, that would help your credit.

 

[chris7]

I thought it would help to. Hopefully someone here will know.

 

[tmr76]

I asked my attorney after our 341 what reaffirming would look like on our credit and he said it should be just a regular reporting, as it would look prior to the BK. We are reaffirming our car so I was concerned that it might affect us negatively.

I am starting to think that even after we get a discharge, if we get it, that the work is not over. There will be disputes with the reporting agencies, too. There were even a few debts that were reported as paid prior to filing from insurance companies taking too long to pay the bill. I still have to fight them to get that off!

I guess I thought after the BK that everything would be wiped off - it wouldn't show at all but from reading here it looks like the debts show still but say "included in BK" which seems wrong. I thought the point was to help you move on...

 

[chris7]

I talked to customer service for one of our accounts today. They said that if we reaffirmed our loan and it is current then there should be no mention of "included in bankruptcy". They said to dispute it with the reporting credit agency. I did an online dispute today for one of our credit reports so we'll see how it all shakes out.