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My guess is that they probably can still list a repo on your credit report. Normally you get a double-hit on your credit report when you surrender property in bankruptcy: you get hit with the bankruptcy (which knocks your credit score down by 75 to 150 points) and you get hit with a repo/foreclosure for the surrendered property.

Just because a debt is discharged in bankruptcy doesn't mean that it won't be listed on your credit report, it simply means the debt is no longer collectable. The credit report will continue to show the debt on your credit report and should list it as "discharged in bankruptcy." Similarly, if a person surrenders a home in bankruptcy, the foreclosure still goes on their credit, and if a person surrenders a car in their bankruptcy, it still shows up as a repo on the credit report. So, my guess is that a repossessed car, even one for which the debt was wiped out in bankruptcy and one that was not repossessed for some time after bankruptcy since voluntary payments were made for awhile, will still show on the credit report as a repo when it is ultimately repossessed.

I can't say this is a definitive answer, but this is how I think the process works.

Please note that nothing in this posting or in any other posting constitutes legal advice; this is simply my understanding of the facts, which I do not warrant, and I am not suggesting any course of action or inaction to any person.

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โˆ™ 2015-07-15 19:32:03
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Q: If you make voluntary payments on a car loan that was discharged in a bankruptcy can they still report it as a repossession on your credit report even though the debt is not legally owed?
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You kept making car payments after discharged in chapter 7 if you stop paying and don't surrender the car can the lender go and undo your bankruptcy?

No. But, the vehicle will become a repossession if payments are not made.


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My bankruptcy was discharged I brought a car for my friends daughter and she was making the paymentnow she stop what happens to the car it's been 6 month and nobody looking for it.what to do?

Your bankruptcy was not discharged, unless it was thrown out of court. Your debts were discharged. You can keep making the payments, find somebody who will take the car and make the payments, or call the lender to make a "voluntary repossession." You will then learn what a dumb move it was to buy the car, since you will be liable for any deficiency and you cannot file c. 7 again for 8 years.


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A repo is a repo is a repo.


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You can always make an offer, but its up to the lender whether its accepted.


What does ascension capital group do?

They buy loans that are on their way to bankruptcy, repossession, or in a long state of defaulted payments. They are almost impossible to reach.


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Bankruptcy doesn't "cover" anything. If you mean, can a criminal-court-ordered restitution be discharged so you don't have to pay it, probably not. Lawyers are trained to argue issues for their clients, so you might find a lawyer who can convince the bankruptcy court it should be discharged.


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Can't make the payments and can't sell what do I do?

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