Reaffirm after bankruptcy?

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Icon Mini Profile billo731





Joined: 07 Sep 2010

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Post Posted: Tue Sep 07, 2010 7:24 am    Post subject: Reaffirm after bankruptcy?
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I filed for chapter 7 bankruptcy and have been discharged about 9 months. I stated that I wanted to reaffirm my mortgage (and car loan, but that's a different forum). That is indicated on my bankruptcy filing. Now, I pull my credit report, and see that I have NO open lines of credit. Obviously, the debt wasn't reaffirmed. I understand the advantages and disadvantages, but right now, I feel that I need to be starting to rebuild my credit. Seems like a mortgage and car loan reporting paid as agreed every month would be a great start. How do I get this done after a case is closed?
Icon Mini Profile jbe





Joined: 01 Sep 2010

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Post Posted: Tue Sep 07, 2010 8:21 am    Post subject:
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I ran into the same problem when my Chapt 7 was discharged in Jun of 2009. Basically when you file everything is "included in bankruptcy" on your credit report, even if you keep it. On my credit report my 1st and 2nd mortgages show as $0 balances, I never signed an official "reaffirm" on my house but did on my leased car - I asked Wells Fargo about the mortgage not being reported and they sent a letter basically stating that my payment every month was the reaffirmation of the mortgage. I use True Credit from Transunion to monitor my credit, you can go in and add comments as to why you had bankruptcy as well as comments on each loan that was discharged but reaffirmed.

As far as rebuilding credit, you can google credit cards for people with bad credit, orchard bank and first premier offer both secured and unsecured. You'll have a low limit and pay about $100 a year for each card but they report to each credit bureau. It'll take a good year or so before you can explore buying a car, etc. hope this helps.
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