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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?

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2014-09-18 00:17:35
2014-09-18 00:17:35

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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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.

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.

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.

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.

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.

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.

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.

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.

Not IF you reaffirmed the loan with the creditor.

It depends. If:you have a monthly loan repayment agreement with the creditor wherein the creditor automatically deducts your monthly payments from your savings account oryou have defaulted on your loan payments for more than 2 or 3 months and haven't contacted the creditor reg. the sameThen, the creditor can withdraw money from your account (if there is any cash available) towards your loan repayment. Otherwise the creditor cannot deduct any money from your account without intimating you.

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.

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.

Yes. Only if there was a relief of stay issued for the vehicle or you signed a reaffirmation for the vehicle loan and didn't make the payments.

Yes, your truck can be repossessed even if you are using it to earn an income, however, you can tell your creditor that you are earning money with your truck, and that if the creditor does not repossess the truck you will use that income to make payments on your loan. Of course, if you are not making payments, and spending all of your income on other things, then the creditor has no motive to let you keep the truck.

Your creditor and the credit bureau are the only ones that can remove late payments. Try contacting your creditor and see if they will do it under goodwill, they sometimes will. You can also dispute it to the credit bureaus and see if they will remove it that way.

If you quit making payments your creditor will reprocess it, the same thing will happen if you just take back to them yourself. Anyway you do this it will show on your credit report. The best thing would be to try and sell it or get someone to take over the payments. You can call the creditor and tell them you do not want it. As long as it was incldued in your bankruptcy and not reaffirmed they must take it back. It can only be marked on your credit report as discharged through bankruptcy not taken as a repo. I did this with my car. Yes, you can do that. You will have to pay a dime. It wll be listed as backruptcy, not a repo.

Repossess or foreclose on the secured property if the agreement is in default.

can they? yes. Should they? No. Will they?.....probably. Can you sue them for it?.....if you have the money for it, maybe

If the creditor has a valid debt and if you are not able to make payments as they come due, the creditor can and probably will file a civil lawsuit against you. Once a creditor realizes that no amount of persuasion out of court will get him anything on the debt, a civil suit is the only recourse to getting paid.

The creditor total payments will differ from the price of the sale unless you have a 0% interest loan. The interest armoritized in the amount of the total of payments. Some companys have simple interest loans, meaning that the interest is accumulated on a daily basis, rather than being financed for the full term of the loan. When payments are made in a timely manner or earlier, you will save alot on interest charges.

If the debt was properly assigned by the original creditor, yes. If you are making payments to the Original creditor than ask them to pull it back from there Collection agency, then dispute with the CRA's and when they update it should delete

A timeshare is an asset, not a debt. It cannot be discharged. If you are in arrears in your timeshare payments, like being in arrears on a mortgage, you would be able to surrender the timeshare and discharge the arrears.

Ask the creditor what they will take as a settlement. They don't have to settle but they might.

You owe them money. If you have money, the source of that money does not matter, they creditor can place a lien or garnish payments or get a court order for what is owed.


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