Re: Debt missing from credit report?

There are three major credit reporting agencies. Which one did you use?

I use Experian. They will show the original amount of the debt and the current amount as of the date the debtor reported it. Their major status indicators are OPEN, CLOSED AT CREDIT GRANTOR'S REQUEST, CLOSED AT DEBTOR'S REQUEST. There is no status called DROPPED.

Assuming the status for your loan is CLOSED AT CREDIT GRANTOR'S REQUEST, that means that the loan is a dead issue as far as the lender is concerned. They don't expect to ever collect on it. It does not mean the debt is forgiven. Very bad news for a prospective new lender is concerned.

There is nothing in the Experian credit report to the effect that the house was foreclosed at a particular price. Just the original amount of the loan and the current amount as of the reporting date.

You can get a free credit report from each of the three agencies by going to AnnualCreditReport.com.

Dond