{"id":2456,"date":"2019-09-08T17:10:08","date_gmt":"2019-09-08T17:10:08","guid":{"rendered":"https:\/\/recoverylawgroup.com\/?p=2456"},"modified":"2025-08-21T10:05:22","modified_gmt":"2025-08-21T10:05:22","slug":"declared-bankruptcy-but-mortgage-loan-not-reported-heres-what-you-can-do","status":"publish","type":"post","link":"https:\/\/recoverylawgroup.com\/staging_D\/declared-bankruptcy-but-mortgage-loan-not-reported-heres-what-you-can-do\/","title":{"rendered":"Declared Bankruptcy but Mortgage Loan not Reported? Here\u2019s What You Can Do"},"content":{"rendered":"

Call: 888-297-6203<\/a><\/strong><\/p>\n

Buying a house is a big commitment, especially if you have just come out of bankruptcy. Your credit score is negatively affected when you declare bankruptcy that can make it difficult to get any new credit, especially one like a mortgage. Most people who opt for Chapter 13 bankruptcy get a chance to catch up on their past due payments through the repayment plan. Other options regarding mortgage are to reaffirm the debt in order to retain your house. Once you reaffirm the debt after filing for bankruptcy, the debt is not mentioned in your credit history, says lawyers of Dallas based bankruptcy law firm Recovery Law Group<\/a>.<\/p>\n

The worst nightmare for people out of bankruptcy is when their existing mortgage, for which they were paying for the past many years, is not reported to credit bureaus. Without this information on their credit report, their efforts of making payment in good faith are not reported and thus no improvement can be seen in their credit rating. The lender is supposed to report the information to any of the three credit reporting bureaus (Experian, Equifax or Transunion). However, as per the Fair Credit Reporting Act (FCRA), it is not compulsory. They can choose to report to all three, any two\/one or none. Since this is the lender\u2019s responsibility, you could ask your lender to report the account legally and accurately.<\/p>\n

An adept lawyer can ensure that there are no loose ends when you opt to file for bankruptcy. For consulting with experienced bankruptcy lawyers<\/a>, call 888-297-6023.<\/p>\n\n

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