to make a long story short: i filed bk in 1/2007 and discharged 5/2007,and i filed bk on my home well any ways this credit union keeps pulling hard pulls in my credit report every year. and sending me statements every month stating i opened a new loan which i did not. they say i owe 52,775.00 that is the remaining balance on the house when they sold it in 9/2007. THEY forclosed it in 6/2007 they also sent me a irs thing for forgivin debt.i did not have to pay any taxes on this.i called and informed them they can not do this and they said yes we can cuz you owe the balance on the house. the remaing bal on the house the 52,775 they stated that in account stating its a new loan and i renig on it in 10/2007 how can they do that? i got it off my credit report but i can not get them to stop pulling my credit IM SO FRUSTRATED WHAT CAN I DO!!!!!!!!!!!!!!!!!
You need to contact the lawyer who handled your bankruptcy to make sure that the mortgage was in fact included. If it was, they are violating the stay of bankruptcy. In fact, if the mortgage was discharged how could they have foreclosed and sold the house?
Something doesn't add up. How could you get an IRS form to show the forgiven amount and owe a balance (presumably the forgiven amount?) at the same time. You might need to see how all those numbers add up and whether or not they double-billed you somewhere.
In re-reading this... It looks like: 1. They foreclosed your loan in the bankruptcy. 2. Took the loan value, subtracted some appraised/estimated value and forgave the difference (for which they sent you the IRS form). 3. Auctioned your [former] house. 4. Got 50-some thousand less in the auction than what they estimated and wrote you up a loan for the difference to balance their books. Which couldn't have been in the bankruptcy because it came after the fact. I'm just guessing, but that sounds pretty shady and a good reason to get your lawyer going on this.
my lawyer is no longer available...which sucks, i have my bk filing on all that i did and they are included i looked at it to make sure.i never realized it but ur right hedwig how can they say morgage discharged then say they they forclosed on 6/2007 it makes no sense a matter of fact i got a statement yesterdAY stating new loan blah blah..they will not listen to me. does any one have an idea how to write there lawyer a good letter
Your mortgage debt is discharged, meaning you are no longer liable to pay it. However, the mortgage is still a lien on the property and the lender can take the property (if the mortgage is not paid) to protect their interest. Clearly that is what happened here. Your credit report however should NOT show a foreclosure, but the mortgage should show as IIB (Included In Bankruptcy). This would of course not be the case if you signed a reaffirmation agreement, then you would indeed be liable for the shortage of sale price. So first thing is to make sure you did not sign a reaffirmation agreement. If you are not sure, you can check the PACER court records, as it would have been recorded. Then search online, you will find a wealth of sample letters for such inquires to your credit file. I have a link, but can not post it being a newbie and all. You should be able to decipher it from below. www(dot)debt-n-credit-letters(dot)com/#CreditorDisputes With this, I would also document every attempt by the CU to collect on a discharged debt (if not reaffirmed) and find a lawyer willing to work with violations of the Fair Debt Collection Practices Act. Best of luck. I wish you the best.
I didn't realize it, but this site has sample letters as well. So they might even be better. You'll have to go through them and find the ones that best meet your needs.
i did not sign a reafirmation agreement,they have in the credit report that it was forclosed on 10/2007 which is a lie. they are not willing to budge i tell the cra that it is a mistake and they come back as verified.....thanxs everyone for the info.
If the credit reporting agencies are reporting a foreclosure as of 10/07, you need to send proof to them to dispute and proove that the mortgage was discharged in 5/2007. They can not legally report foreclosure after 5/2007. The only you can dispute this is with proof. Otherwise, they let the "systems" do the verification and it keeps coming back as "verified". Write them a letter, include your proof and send it snail mail "return receipt requested", along with "certificate of mailing". Keep copies for your records.
They probably won't accept the letter anyway. They require the update to be made by the data furnisher. A CRA is a REPORTING agency. They report what their subscribers (the creditors) furnish them. I think there's a bigger issue here. The credit union does not seem to accept the fact that they are included in the BK. If your lawyer is no longer available, I'd get another lawyer, get the paperwork to him or her, and get a legal opinion of what is valid and what isn't. With a 52K debt, reporting should be the least of your worries right now. You want to be sure that they can't legally come after you for the money.
