QUESTION
Can the bank enter new information against me if my bankruptcy was discharged?
Asked on Mar 09th, 2012 on Bankruptcy - Michigan
More details to this question:
If after the chapter 7 is finished (it's been 3.5 years now), only now the bank is pursuing foreclosure and they notify regularly. I almost get a sense they are coming after me but they say they are just foreclosing. Presently my credit report shows only my bankruptcy discharge but at their conclusion and success, can they enter anything against me that would appear as if I were in the foreclosure and if so, would I be bound to another few years before my credit clears again so I can buy again? Presently I am trying to close on a home and that hasn't become an issue yet because all my credit shows is the chapter 7 3.5 year ago. Could this have detrimental consequences on me now, and if so, do I have any recourse?
8 ANSWERS
Business Bankruptcy Attorney serving Raleigh, NC
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J.M. Cook, P.A.
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If you reaffirmed the debt in bankruptcy, they can report you to the credit bureau. If you didn't, they cannot.
Answered on Mar 12th, 2012 at 4:43 PM
Bankruptcy Attorney serving Hampton, VA
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Haven Law Group, P.C.
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They can not come after you personally once you have received your discharge.
Answered on Mar 12th, 2012 at 4:36 PM
Bankruptcy Attorney serving Livonia, MI
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Charles J. Schneider, P.C.
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You have recourse only against false statements. It would be truthful statement that a home that you owned is being foreclosed upon.
Answered on Mar 12th, 2012 at 3:48 PM
Commercial Bankruptcy Attorney serving Davie, FL
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Law Office of Jeffrey Solomon
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This could be a problem since apparently you still own the property and the bank has not completed foreclosure. I have been told that this can be a problem as to when you can buy a new home since they look at the length of time since a foreclosure has been completed. This might not be a credit issue but a loan underwriting issue.
Answered on Mar 12th, 2012 at 3:23 PM
Bankruptcy Attorney serving Concord, CA
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William Rubendall Attorney at Law
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Once the lender forecloses that is a reportable credit fact. You can add a 100 word statement to your credit report explaining that the lender was dilatory in doing the foreclosure.
Answered on Mar 12th, 2012 at 3:11 PM
Domestic Relations Attorney serving Huntsville, AL
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Ferguson & Ferguson
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If you reaffirmed on your mortgage during your chapter 7 and thereafter defaulted the the mortgage company can pursue after your chapter 7. If you surrendered your house in the chapter 7 they cannot. Either way they will most likely report a foreclosure on your credit report which will naturally affect your credit rating.
Answered on Mar 12th, 2012 at 2:46 PM
If you rejected the mortgage debt in your bankruptcy, then the mortgage debt has been discharged. The bank cannot pursue you on the mortgage debt you owe them no money period. Foreclosure is only to gain possession of the premises and/or to clear title. If you have already moved out, you may want to call the mortgage foreclosure attorney and offer to sign a Quit Claim Deed removing your name from the property making the foreclosure a moot issue.
Answered on Mar 12th, 2012 at 2:11 PM
When the bank goes thru the foreclosure, they are required to notify you, whether they are pursuing any defualt money owed or not.
Answered on Mar 12th, 2012 at 2:09 PM