18 Apr My Bankruptcy Is Over And My Mortgage Company Stopped Reporting My Payments to the Credit Bureaus
Bankruptcy requires you to list all of the creditors that you owe money to on the date of filing – including the ones you want to keep like your home or car. In most jurisdictions, the mortgage company does not require the you (the debtor) to reaffirm your mortgage debt – only that you keep making your mortgage payments. The problem arises some time later when you want to refinance your home or buy another home. That is when you discover the mortgage company stopped reporting your payments to the credit bureau even though you were paying them on time.
Why does this happen? Once you receive your bankruptcy discharge, your creditors are forbidden to attempt to collect any of your debts except the ones that survive your bankruptcy. If you did not sign a reaffirmation agreement with your mortgage company, your home loan was discharged along with your other debts. If your mortgage company reports that you owe a balance after your bankruptcy discharge, the lender would be in violation of the bankruptcy discharge order and the Fair Credit Reporting Act. The mortgage lender does not want to be sued for violating the order and/or Act. Unfortunately, you cannot force the mortgage company to report your payments to the credit reporting bureaus.
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