How do I settle a currently settled loan?
(we had answered prior to, nonetheless it would not appear to upload it comes to reporting to the credit bureaus after BK if it does later, forgive any duplication) Why is there an illogical double standard when? As soon as the BK is last, the mortgage is settled, beside me, the bankrupt individual nothing that is owing. That is, I assume, the reason why, in the event that financial obligation is certainly not reaffirmed, it doesn’t find yourself from the credit file. Therefore, if we buy out of the LEIN (maybe not the mortgage, considering that the financial obligation doesn’t exist any longer, therefore I cannot buy it away without reaffirming it) exactly why is that reported to your credit bureau?
How do I settle an already settled loan? Fling chapter 7 Bankruptcy and from now on trying the get rid of your credit file, the illogical standard that is double in comparison to “clearing a head field”. Odds are the lien or debt had been from the credit file prior to the bankruptcy. Your report has old information and has to be updated. The duty of cleansing your credit history falls for you. In the event that you settled on liens, to need certainly to dispute and send a lien satisfaction letter s into the credit agencies. I experienced a similar situation with a client, as well as consulted with ModSpec. Into the final end, things would not go well for the borrower. Continue reading →