Comments on: Cleaning Up Your Credit Report After Bankruptcy

By: Kim

Kim — Wed, 11 Nov 2009 17:46:38 +0000

We filed bankruptcy in October of 2005. A reaffirmation was signed and sent to our bank, with our signature, the lawyers signatue, a bank persons signatue. I lost my job in January 2009, my husband called the bank and told them and asked for help. The person on the line was very short and rude and said I don’t have to talk to you you did not reaffirm your loan. Also we can’t do anything for anyone until you are at least 3 months behind. We were floored because we thought we had reaffirmed. We have fallen behind and received late notices and approaching the 3 month area we received a certified letter that said if we did not pay this amount they would start the forclosure process, but in the next paragraph they said they could not collect any funds from us because we did not reaffirm. They are still reporting our payments and late payments on our credit report. We called our bankruptcy lawyer and they have a copy of our reaffirmation letter, cover letter, fax cover sheet showing it was sent to our bank. They then called the courthouse to see if they had a signed and stamped copy of the affirmation in the court file. They did not. Our lawyer tells us that in light of this there is no affirmation. Our home is now upside down, the payments have gone up every year because the taxes go up every year, from 1100.00 to 1400.00 a month. They are going up another 900.00 in December so our mortgage will go up again. We no longer can afford to lve in our home. Our lawyer says we are protected by bankruptcy and can walk from the home. We now Do Not want to reaffirm. Do we have any recourse with the bank since they are the ones that dropped the ball on our reaffirmation? Also can we go after them for reporting on our credit report when they were the ones who enlightend us to the fact we did not reaffirm?

Help,
Kim

By: Laura

Laura — Thu, 27 Aug 2009 07:19:30 +0000

I did a chapter 7 bankruptcy and did not reaffirm my home loan. If I walk away from the house, will the foreclosure be reported on my credit reports?

By: JR.

JR. — Sat, 30 May 2009 20:42:16 +0000

I did Bankruptcy on a foreclosure and towards the end i sold the home but the past due payments and fines still show up even though its closed what do i do??

By: Alan St. Pierre

Alan St. Pierre — Sun, 15 Mar 2009 18:18:57 +0000

My wife and I went through a short sale in 2008. We were upside down by about 150k. What happens with this difference? It seems that we can never get a straight answer. We will be filling with our accountant in a few weeks. Any and all help would be greatly appreciated.

Alan

By: Fisher

Fisher — Sun, 15 Mar 2009 14:43:36 +0000

We are responsible for messing up our own credit report so cleaning the report should be also our responsibility. You have explained how we can clean this very nicely. After a bankruptcy it becomes very necessary to raise the positive credit score and establish a good credit report as soon as possible.