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mdforgue · Apr 23, 2010, 07:35 AM

I filed chapter 7 in 2008 and they were supposed to leave my car off there wich I thought they did since I have still been getting bills and paying them. My concern is when I check my credit report for the last 2 years they always say the car loan was included in the bancpruptcy and is closed. The loan company sais it is not and said I signed papers saying to keep it open but they refuse to send me any documents stating this instead they just send me another bill? I was told to just stop paying since its not on my credit anymore but couldn't they just repo the car? Any ideas?

JudyKayTee · Apr 23, 2010, 09:13 AM

In a Chapter 7 the trustee makes an inventory of all your nonexempt assets, liquidates them, pays as much of your total debt as possible (other than assets which already have liens/loans/other encumbrances). You get to keep any exempt property (and I don't know what you owned) BUT you can "renew" loans on non-exempt property (such as automobiles).

My assumption is that the original car loan WAS included in the bankruptcy and you somehow "re-upped" on the loan - or got a whole new loan.

If you kept the car, you owe for it. Bankruptcy does NOT entitle you to a free car.

Yes, if you don't make the payments the car will be repoed. What will happen after that depends on the creditor. You will undoubtedly be furnished with the paperwork if the creditor repos and sues you.

mdforgue · Apr 23, 2010, 11:03 AM

When I filed the car was left off it completely it was not "re-upped" or anything. It was the only vehicle I had so we left it alone. However all my credit reports show it as closed with the chapter 7. and I don't know why. Also I have gotten behind a bit on my payments if that is showing closed on my credit would those late payment ever show up or what about when I pay it off will that be on there?

JudyKayTee · Apr 23, 2010, 11:06 AM

Originally Posted by mdforgue

When i filed the car was left off of it completely it was not "re-upped" or anything. It was the only vehicle i had so we left it alone. However all my credit reports show it as closed with the chapter 7. and i dont know why. also i have gotten behind a bit on my payments if that is showing closed on my credit would those late payment ever show up or what about when i pay it off will that be on there?

If the car was not mentioned at all - not mentioned as an assets, whether it qualified or not - you have committed bankruptcy fraud.

You cannot just "leave it alone."

On one hand you say it was not mentioned; on the other hand you say it was listed as "discharged" ("closed").

Yes, the late payments will be on your credit report IF the creditor chooses to report them.

mdforgue · Apr 23, 2010, 11:30 AM

That's what confused me the credit report shows it was discharged but the loan company sais its not and I haven't had any bad marks on it in 2 years and there was a time I was way behind. I am current and plan on payiong it off regardless I just wasn't sure what I should. I told the loan company about it and they said I was wrong but I have my credit report in my hand showing its closed?

JudyKayTee · Apr 23, 2010, 11:47 AM

It doesn't matter what the credit report says - the credit bureaus make mistakes all the time.

What matters is what the loan company says.

You cannot file in bankruptcy, erase all your debts and keep the car - it's as easy as that.

If there was an error in your Bankruptcy, you have a bigger problem than being repoed.

mdforgue · Apr 23, 2010, 11:52 AM

OK so I should contact my creditor and get them to do something or should I call my bancruptcy lawyer and have him do something?

JudyKayTee · Apr 23, 2010, 12:04 PM

Do something about what? Continue to make the payments and there's no problem.

mdforgue · Apr 23, 2010, 01:21 PM

Do something about the fact that it is not on my credit report. When I pay this off it is still going to show that it was discharged and not paid off in good standing. Im asking how can I go about fixing my credit report.

JudyKayTee · Apr 23, 2010, 06:06 PM

Contact the credit card company and prove that you are in fact making payments - they will contact the creditor who has a time frame in which to respond. The creditor will undoubtedly respond that you are in arrears.

I still don't understand why you want that on your credit report. Aren't you better off with other people who might extend credit thinking you aren't making late payments and might get repoed?