310.376.9865
You and your bankruptcy attorney have successful filed a Chapter 7 bankruptcy, you have attended your meeting of creditors, everything is going well.
You do own a home, however the trustee felt there was little or no equity, and filed a report of non distribution, everything is still going well.
Now you receive a letter from your home lender, stating unless you reaffirm the loan they will no longer send you a monthly statement. Also, what they don’t say, they will no longer report that you are making timely payments on your credit report.
First, in my opinion, you are not required to sign a reaffirmation for real estate.
Second, judges in this jurisdiction will not sign a reaffirmation for a home. Therefore, your bankruptcy lawyer should be able to send a strong letter to the lender declining to sign a reaffirmation for real estate.
What about the lack of reporting your payment to the credit reporting agencies.
The lender may refuse to report your payment out of spite, or out of caution. Creditors can only report accurate information, however, they are not required to report accurate information.
What can you do if the creditor does not report your timely monthly payment?
- You should request a payment history from the lender (free once a year).
- File a dispute with all three major credit bureaus with a copy of the history.
- The lender can remain silent which will cause the credit reporting bureau to report the information you provided. Or the lender will have to provide accurate information.
- You will need to repeat this procedure frequently.
Is this a pain in the a##? Yes, but it does provide you an option.
- Law Offices MJ Mann Bankruptcy Attorney
- 2706 Artesia Blvd, Suite BK
- Redondo Beach, CA 90278
- 310.376.9865
