My question involves bankruptcy in the state of: virginia
If i willfully give my car back to the bank after a chapter 7 has been filed and discharged, does it still go on my credit? I did not reaffirm the debt.
My question involves bankruptcy in the state of: virginia
If i willfully give my car back to the bank after a chapter 7 has been filed and discharged, does it still go on my credit? I did not reaffirm the debt.
It's already on your credit. I'm not sure what you are asking.
Yes it should already be on your credit report and show as zero balance owed and IIB or included in bankruptcy. It should not change on your report if it goes back. You took the hit for it already with the BK.
I don't think there is a difference between willingly returning a car or the repo man taking it after a bankruptcy. I filed bankruptcy and it was discharged recently. I did not reaffirm the car and no one has claimed it yet. I asked my attorney and he said turning it in "voluntarily" was no better than the repo man taking the car. So, I'll continue to drive it until I am ordered by the court to give it up. I have not made a payment on the car in 7 months and I filed bankruptcy in early February.
What really angered me were the repo men wandering around my property with dogs and flashlights in the middle of the night and yelling /pounding on my door looking for the car before I filed the bankruptcy. Because of that, I am going to make the creditor spend their money on a court order.
They need a court order if they want to get my car. A repo man can only do so much. They can't break and enter as that would subject them to criminal and civil penalties. They can't threaten as that would leave them open to criminal and civil penalties. They can't trespass as that leaves them open to criminal and civil penalties.
The automatic stay only lasts 45 days so technically the repo man could come after the car before a discharge.