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Charge Off Posted to Credit Report After Bankruptcy

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  • 09-01-2014, 02:36 PM
    bmcadams
    Charge Off Posted to Credit Report After Bankruptcy
    My question involves bankruptcy in the state of: florida. I had an auto loan that was included in chapter 13. The auto was financed at a credit union in Michigan where I lived at the time of the auto purchase. This credit union was sold. When the original credit union closed my account, they posted my account as a charge off. The account was reopened with a new account number and reposted a second time as being included in my bankruptcy.My bankruptcy was discharged on 2/1/2013. I have disputed this item 3 times with no luck. Is this legal?
  • 09-01-2014, 03:06 PM
    jk
    Re: Charge Off
    what was required of you regarding this within the BK? Given a chap 13 is a restructuring of your debts and not simply a discharge of debts as a chap 7 is.


    and charging off a debt is nothing more than an accounting practice for the creditor. It allows them to treat the debt as a write off for tax purposes. It means nothing to the debtor.
  • 09-01-2014, 04:02 PM
    adjusterjack
    Re: Charge Off
    Of course it's legal.

    They are both accurate entries, right.

    It was charged off and then discharged in bankruptcy.
  • 09-01-2014, 04:31 PM
    bmcadams
    Re: Charge Off
    It was posted as a charge off after the credit union was sold. I was current on my payments up until the chapter 13 was filed.it was paid for by a trustee. I am still driving this vehicle.
  • 09-01-2014, 04:33 PM
    adjusterjack
    Re: Charge Off
    Quote:

    Quoting bmcadams
    View Post
    It was posted as a charge off after the credit union was sold. I was current on my payments up until the chapter 13 was filed.it was paid for by a trustee. I am still driving this vehicle.

    Yes, but the loan was discharged in spite of your continued payments.

    If you weren't paying they'd come get the car.
  • 09-01-2014, 04:33 PM
    Disagreeable
    Re: Charge Off
    They have a lien on it. Expect a repo if not paid off or dealt with.
  • 09-01-2014, 04:40 PM
    bmcadams
    Re: Charge Off
    I applied for a small loan and was denied. The loan officer told me there was an account not paid as agreed. I was current with this account and it was entered into my bankruptcy by my attorney. I do not feel this should be listed as a charge off. It was then paid by a trustee.
  • 09-01-2014, 04:48 PM
    adjusterjack
    Re: Charge Off
    I think you are missing the point.

    You may have been paying on the account but you weren't "current" on the account because it had already been charged off and discharged in bankruptcy.
  • 09-01-2014, 07:32 PM
    flyingron
    Re: Charge Off
    Bankruptcy doesn't change "charge off." In fact, pretty much a lender will probably charge it off if you file any sort of bankruptcy.
    Do you still have the vehicle? Is it part of the ch 13 payment plan? Was it reaffirmed if discharged?
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