QUESTION
When I file for bankruptcy will my repossession be taken off the credit report?
Asked on Apr 09th, 2012 on Bankruptcy - Mississippi
More details to this question:
When I file bankruptcy will my repos be take off my credit report?
10 ANSWERS
Glen Edward Ashman
No.
Answered on Jun 02nd, 2013 at 7:32 PM
Commercial Bankruptcy Attorney serving Davie, FL
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Law Office of Jeffrey Solomon
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The debt will show included in bankruptcy, but the repossession likely will remain on the credit report.
Answered on Apr 16th, 2012 at 11:29 AM
Bankruptcy Attorney serving Houston, TX
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Pamela L. Stewart, Attorney at Law
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No. A bankruptcy filing only eliminates the deficiency owed on the repossession. The repossession actually happened, therefore, it may be reported on your credit report, however, it can only be reported on your credit report for seven years. (The bankruptcy can be reported on your credit report for ten years.)
Answered on Apr 12th, 2012 at 12:47 PM
No, unfortunately credit reports list what past circumstances are, the bankruptcy would "discharge" the debt on your credit report (so it would show you currently have no obligation to repay), but the 7 does not remove your past credit history.
Answered on Apr 11th, 2012 at 12:38 PM
It will not be removed but it will be noted as discharged in bankruptcy.
Answered on Apr 11th, 2012 at 12:36 PM
Bankruptcy Attorney serving Concord, CA
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William Rubendall Attorney at Law
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When you file for bankruptcy it shows on your credit report. Other entries remain on the credit report.
Answered on Apr 10th, 2012 at 6:40 PM
Appellate Attorney serving Grosse Pointe Farms, MI
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Musilli Brennan Associates, PLLC
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No, your record is your record and the bankruptcy filing will be added to it.
Answered on Apr 10th, 2012 at 5:29 PM
Norman Linder Hull
The repossession will remain on your credit report. The debt itself should be noted as discharged.
Answered on Apr 10th, 2012 at 3:29 PM
Bankruptcy Decision Attorney serving San Diego, CA
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Law Office of Daniel G. Shay
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No, the account will still be listed for 7 years, but the Creditor should report $0.00 Balance, Discharged in BK.
Answered on Apr 10th, 2012 at 3:11 PM
John R. McNeal
That depends on the policy of the credit reporting agency. Usually, no.
Answered on Apr 10th, 2012 at 3:11 PM