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  1. #1
    Join Date
    Sep 2014
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    3

    Default 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?

  2. #2
    Join Date
    Jan 2006
    Posts
    38,867

    Default 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.

  3. #3
    Join Date
    Mar 2013
    Posts
    18,340

    Default Re: Charge Off

    Of course it's legal.

    They are both accurate entries, right.

    It was charged off and then discharged in bankruptcy.

  4. #4
    Join Date
    Sep 2014
    Posts
    3

    Default 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.

  5. #5
    Join Date
    Mar 2013
    Posts
    18,340

    Default 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.

  6. #6
    Join Date
    Sep 2011
    Location
    OH10
    Posts
    17,019

    Default Re: Charge Off

    They have a lien on it. Expect a repo if not paid off or dealt with.

  7. #7
    Join Date
    Sep 2014
    Posts
    3

    Default 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.

  8. #8
    Join Date
    Mar 2013
    Posts
    18,340

    Default 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.

  9. #9
    Join Date
    Sep 2010
    Posts
    19,901

    Default 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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