What to do if I lost my job during the recession and had to file bankruptcy which included my home?

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What to do if I lost my job during the recession and had to file bankruptcy which included my home?

After a few months (4 months) I got a job and worked with my mortgage company to “modify” my mortgage. I have been making on-time payments for 2 years but the bank does not report the payments to the credit agencies. They told me they are not requried to do so. Is this true? How am I to re-establish credit it they don’t report. It doesn’t seem fair.

Asked on June 10, 2013 under Bankruptcy Law, Indiana

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

Reporting to credit agencies is voluntary: no one and no business is required to report.

To begin rebuilding your credit, try taking out 1 or 2 credit cards--even if they are only low limit, secured cards--use them modestly, and pay off the balance each month. That will begin showing a pattern of responsible credit use.


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