QUESTION
What can I do about a vehicle repossession after bankruptcy discharge?
Asked on Aug 18th, 2015 on Bankruptcy - Michigan
More details to this question:
During a bankruptcy filing years ago, I relinquished my rights to a vehicle that my ex decided to keep. He also filed Ch.13 bankruptcy but has not made good on the payments. Does this repossession effect my credit even though I surrendered it and have been discharged?
6 ANSWERS
Commercial & Bankruptcy Law Attorney serving Powell, OH
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Ronald K. Nims
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No, it should not affect your credit. But it's always a good idea to check your credit report to be sure that false information does get in it.
Answered on Aug 21st, 2015 at 9:57 AM
Unfortunately, yes (assuming you were on the loan).
Answered on Aug 20th, 2015 at 12:38 PM
When there is a bankruptcy discharge and no reaffirmation, further information about the debt, good, bad or otherwise, should no longer appear on your credit reports. But as we all know, what is not supposed to happen sometimes does happen. To resolve any hiccup that might occur, you would need to submit a written dispute to the credit bureau reporting this information, either through their online site or by mail.
Answered on Aug 20th, 2015 at 11:05 AM
Derek W. Freeman
You already suffered any possible negative effects of relinquishing title on the vehicle, when you filed bankruptcy. Since you are no longer on the title, and not on the loan, you should not suffer any further effects from it.
Answered on Aug 20th, 2015 at 10:30 AM
No, you are relieved of that debt.
Answered on Aug 20th, 2015 at 4:12 AM
Appellate Attorney serving Grosse Pointe Farms, MI
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Musilli Brennan Associates, PLLC
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It is doubtful it should even be reported on your credit record. If it is a letter of explanation is in order. In the overall, you bankruptcy is the most important item on your credit report and will remain so for ten years following your discharge.
Answered on Aug 20th, 2015 at 1:29 AM