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Issue after Bk Chptr 7

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    #1

    Issue after Bk Chptr 7

    Hi everyone! New here...I'm in the same boat as everyone else. In my case a family member got sick and we had to move so I had to take severe paycut and ended up filing Chptr 7. Anyway...
    My issue is.....We filed Chptr 7 12/31/07...we were discharged on 4/21/08. We received notification from our truck loan with Ford Motor that we hadn't made payments since December 07 and they were wanting to include the truck in the BK. We proved that we were paying our payments on time each month and the judge issued a stay for us.
    Now when I pulled our credit ...it is showing account closed balance of 0. with no payments being shown and showing included in bankruptcy. Does this mean I won't get any credit scores for my on time payments with this account? If I were to call them up and tell them to come get it would I still be responsible for it?


    Thanks for listening yall and for the great advise!
    Filed 12/31/07
    Discharged 04/21/08
    Tags: None
    #2
    So you didn't miss a payment at all, but they are saying you did?

    Comment

      #3
      Yeah in court papers they were stating no payments since December, but I provided proof of those payments in my bank account and Fords online account access. On the credit report states closed included with bankruptcy with balance of 0. But in the history part shows paid up to date until Dec 07 when the bk was filed...in Dec 07 it shows a red KD (key derogatory) with no additional history available.
      Filed 12/31/07
      Discharged 04/21/08

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        #4
        I did call Ford this morning and they refuse to update the credit reports because I didn't reaffirm and now its too late to do that. Oh well guess I'll have to build my credit other ways now until I'm ready for a higher vehicle loan.
        Filed 12/31/07
        Discharged 04/21/08

        Comment

          #5
          This is true, when you don't reaffirm, the loan is discharged, therefore no payments after the filing will be reported.
          Bankruptcy History:
          Chapter 7 filed - 10/12/2005 - Asset
          Discharged - 02/16/2006
          Case Closed - 11/08/2007

          A banker is a fellow who lends you his umbrella when the sun is shining and wants it back the minute it begins to rain ~ Mark Twain

          All suggestions are based on personal experience and research and SHOULD NOT be construed as legal advice as I am NOT an attorney. Always consult with competent counsel in your area with regards to your particular situation.

          Comment

            #6
            What happens if you DO reaffirm? Do they still report as paying?
            Filed Chapter 7: 3-22-08
            341 Meeting: 5-15-08 It went great!!!
            Last day for objections: 7-14-08
            Discharged and Closed: 7-21-08

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              #7
              So what happens if a company doesn't make you sign a reaffirmation with them, but you keep paying. They can still report it as not being paid?


              Originally posted by BassBoy View Post
              This is true, when you don't reaffirm, the loan is discharged, therefore no payments after the filing will be reported.

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