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  1. #1
    Join Date
    Jun 2006
    Posts
    1

    Default Auto Loan from Chapter 7 Never Reaffirmed

    We had a loan that was never reaffirmed in our bankruptcy (before last years changes) and has become inoperable.
    We were told today by the original loan company that we could turn the car in and not owe anything on the car as it was included in bankruptcy on their records. We've been paying on this for almost a year.
    How does this affect our credit report if we decide to voluntarily give up the car. As I said it is not reaffirmed and it shows on the credit report as IIB so will this double ding us or does it even matter (can't get any worse)
    We are desperately trying to recover from this and we're hoping this will be a blessing.

  2. #2
    Join Date
    Sep 2005
    Location
    Behind a Desk
    Posts
    98,846

    Default Re: Auto Loan from Chapter 7 Never Reaffirmed

    If the loan was discharged in the bankruptcy, you shouldn't have any additional credit consequence for returning the car to the lender.

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