You describe a situation that leads to a very low credit score. The fact that your care was reposessed tells you that. yes,you were still under a contract.My car was repoed,because of one payment was late.But they were charging extra insurance collision even though I had full coverage.After the fact they relize that I had insurance now they put the money they owe me towards my car that they have. Your credit score will be low because of the bankruptcy and the repossession. Yes, you may still owe money if you didn't add the lender for the car to your schedule of debts. You should talk to your attorney about this even if the bankruptcy discharged, he may be able to re-open it to add the deficiency balance left after the car was sold.
Bankruptcy refinance helps homeowners who had bankruptcy or other credit matters get a home loan to find a payment assistance, and helps restore their credit while also achieving their financial security.
This would be best answered by a good bankruptcy attorney who knows Arizona law. I believe no matter what you do bankruptcy or not, they will get the car, it does not wipe your credit clean.
That depends on, what's on your credit bureau file. The score will look at the age of your credit cards, balances and payment history
You should pay off your repossessed car if you want to fix your credit quickly. If you are not worried about your credit, you can wait to pay off the car or file for bankruptcy.
The bankruptcy will appear on their credit if you include this card in your bankruptcy. If you leave the card off the bankruptcy, it will not effect their credit.
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.
That totaly depend on what else is happeneing in your credit world.. Just because your car gets reposessed? NO once they take your car there is nothing else you need to do with them. If you are in debt for way more than you can handle then you might want to think about bankruptcy, But first talk to a credit councellor, sometimes they can get your interest totally wiped out and lower your monthly payment low enough for you to handle them. Defifnitely talk to a credit councellor first!
Been paying a credit card under a payment agrement the company sold on the debt to another company and the have sent a letter and a draft of a bankruptcy order for the full amount!
We will assume this questionis regarding filing Bankruptcy. You are never blacklisted during bankruptcy. It will remain on your credit report maximum of 10 years. That does not mean you will not be able to reestablish credit after filing bankruptcy during those years. What you will be able to obtain will depend on your payment history after the bankruptcy, the type of credit applied for and the length of time since you filed.
Repossessed cars may be purchased from many car dealerships some specialize in repossessed vehicles and others may have the occasional defaulted payment. Another great place to find repossessed cars is with a financial institution, there are many people struggling, taking credit, the car is often the first thing repossessed when the loan is called in.
Filing bankruptcy does not remove a charge off report from a credit card on your credit report. It just adds bankruptcy to your credit report.
Bankruptcy lowers your credit report.
You end up with HORRIBLE credit if you don't pay your bills and you let your possessions get repossessed.
The length of time that information remains on a credit report varies as to whether it's a bankruptcy, judgment, tax lien (paid/unpaid), late payment or an inquiry.
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No, because you have your own separate credit report.
Until you pay your debt or file bankruptcy.
If your partner files for bankruptcy and you don't then the bankruptcy will not appear on your credit report. But you will be partly responsible for before bankruptcy filing. Generally filing bankruptcy will affect the credit rating of the individual who filed it.
You do not have to necessarily get credit counseling before you can file for bankruptcy.
A bankruptcy will remain on a credit report for the required ten years, it cannot be removed arbitrarily.
Yes, a reaffirmed mortgage needs to reflect the mortgage payment history before, during and after the bankruptcy proceedings. "In Bankruptcy" needs to portray only DISCHARGED BY or INCLUDED IN...Bankruptcy. Contact your mortgage company so that all of your payment history shows on all three bureaus. No. Not if it were a part of the bankruptcy filing. It may or may not be marked included in bankruptcy or reaffirmed in bankrutpcy. It will still remain on the CR for the prescribed time.
Bankruptcy looks worse on your credit report than a late payment. They will both drop your score quite a bit, but a bankruptcy lets your lenders know you gave up on the debts owed, so making it harder to get new loans. You can always try to contact the credit bureaus to try and dispute the negative listings and have them removed if possible.
The accounts can remain up to seven years after the last payment was made, but will show a zero balance due to a bankruptcy filing.
Normally your credit is ruined for 7 years.
The only way to remove a bankruptcy from your credit report is to dispute it to the credit bureaus. The credit bureaus have 30 days under the Fair Credit Reporting Act, to verify your bankruptcy withe the court that filed it or it must be removed from your credit report.