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.