How to settle an already settled loan?
(we had answered prior to, nonetheless it would not appear to upload if it will later, forgive any replication) how come here an illogical dual standard in terms of reporting to your credit agencies after BK? If the BK is last, the mortgage is settled, beside me, the bankrupt person nothing that is owing. That is, i suppose, the reason why, in the event that financial obligation just isn’t reaffirmed, it doesn’t wind up regarding the credit file. Therefore, if I buy out of the LEIN (maybe not the mortgage, as the debt will not exist any longer, therefore I cannot buy it down without reaffirming it) exactly why is that reported towards the credit bureau?
How do I settle a currently settled loan? Fling chapter 7 Bankruptcy and today trying the get rid of your credit history, the illogical dual standard is compared to “clearing a brain field”. Odds are the financial obligation or lien had been regarding the credit history ahead of the bankruptcy. Your report has old information and has to be updated. The duty of cleansing your credit history falls you. In the event that you settled on liens, to need to dispute and deliver a lien satisfaction letter s to your credit agencies. I experienced a comparable situation with a client, as well as consulted with ModSpec. When you look at the end, things failed to get well for the debtor.
Borrower re affirmed very very first home loan, did absolutely nothing utilizing the 2nd home loan. Continue reading “How come here an illogical dual standard whenever it comes down to reporting to the credit reporting agencies after BK?”