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Can creditor report car as repo 2yrs after BK discharged if reaffirmation was not entered in court although timely payments made for 2yrs after BK and creditor shows zero balance on credit report?
Becky0831
A creditor can report a car as repo and not correct it unless you call them. If it not their responsibility to make sure your credit report is right, it is yours. If you contact them, they must fix it.
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∙ 9y ago
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Do you still owe the lender if the court rejected your reaffirmation agreement?
Yes. The reaffirmation agreement allows you to continue to make payments on a secured loan and retain the secured property. The rejection of the agreement simply means the creditor can apply for relief from stay and repossess or foreclose on the property. If you have been making post-filing payments, the creditor may not bother and, in some states, under state law cannot proceed against the property.
Can you repay a relative after bankruptcy even if the indebtedness to them was discharged?
You can voluntarily repay any creditor whose debt was discharged. Do not enter into a payment plan, or make regular payments, or you may reinstate the debt.Bankruptcy only prevents the creditor from taking any action to collect the debt. It does not prevent you from paying.
What is a reaffirm?
Reaffirmation is an agreement between the creditor and the debtor that the debtor will keep an asset after BK, but the debtor must still pay as required. Example: You file a Chapter 7 and have a mortgage on your house. It is the only thing that is current and up to date in payments. The rest of your debt is unsecured credit cards. You may "reaffirm" your mortgage. This means you would keep the home, and you would still be responsible for paying the loan as per the original agreement and the unsecured debts are discharged. Note: A judge can decline a reaffirmation request if your income does not look as if you can maintain the payment.
How do you get a creditor to withdraw late payment reports that occured after you filed BK if the creditor claims they can continue to report this?
If the account with the late payments was discharged in the bankruptcy, that account needs to have all information removed except for the "discharged in bankruptcy" (or similar) statement. Once the account is discharged, continuing to show late payments is like hitting the consumer twice. Send the original creditor copies of the pertinent pages from your bankruptcy papers, copies of your id, ss card and a letter requesting that they change the way the account is being reported to the bureaus. Concurrently, write the bureaus and request the same changes. If you are not successful, you may have to file suit to have the information shown accurately.
Can a lien take your child support?
No. A judgment creditor cannot take possession of child support payments to satisfy a lien.No. A judgment creditor cannot take possession of child support payments to satisfy a lien.No. A judgment creditor cannot take possession of child support payments to satisfy a lien.No. A judgment creditor cannot take possession of child support payments to satisfy a lien.
Can you still erased the cancelled debt after bankruptcy?
You can always pay discharged debts after bankruptcy. The discharge only prohibits collection of the debt by a creditor. To avoid reinstating the debt(s), it is a good idea not to make regular payments.
Can a creditor repossess property if you are making payments?
no they cannot
Can you make payments to a creditor who froze your bank account?
Payments can be made from out of the frozen accounts simply by authorizing the bank to transfer the money in the frozen account directly to the creditor.
Is a secured loan expungable in chapter 7 discharge?
The liability on the note itself can be discharged, but the lien on the property remains- in other words, the creditor cant use the courts to collect the debt, but he can take the secured property if you stop making payments.
Can the bank repossess a vehicle even if the payments are current?
Not IF you reaffirmed the loan with the creditor.
If your credit report states your car loan was discharged in bankruptcy but you continued to make voluntary payments with no reaffirmation agreement can the bank give you a negative rating?
Your BK will be on record for several years. If the car loan was on the BK (7), then your obligation is done. You may need a reaffirmation agreement with the bank if you are going to keep and pay off the car. Any lates will show on your account with the bank for the next 12 months, as will the repo notice. The best thing is to pay every obligation on time to help improve your rating.
What is a creditor agreement?
A creditor agreement is a contract between two parties. The agreement outlines the term of payments based on purchases and other things such as mediation.
