Surrendered Car, now shows up on credit report.

[BillyRip]

Is that legal? They were on my creditor matrix, and the sent me a letter advising me that I would not br responsible for the shortfall due to my discharged 7.

Today I see the added "voluntary repossession" to my credit report.

Jsut curious if they can do that? They did not have me reaffirm the car loan. Thank you!

[bkmaggster]

I believe they can.

I'm expecting the car I surrendered to show up as repossessed and the house I surrendered to show up as foreclosed.

If it bothers you, you could always dispute it - there's a chance they won't affirm the info with the credit agency.

[StartingOver08]

NO - they can not add it to your credit report if you surrendered it IN the BK. If you surrendered it BEFORE the BK, then yes, they can report it. The filing date is the date that you use to determine before or after, not the discharge date.

Same thing with a house - if you surrendered it in the BK, it is supposed to say IIB and zero balance. The bank still must foreclose, but it is not suppose to report on your credit that way because you already surrendered the house in BK. Of course, if your property was foreclosed prior to your filing, it will show up on your CR.

[Flamingo]

Did the "voluntary repossession" take place before your filing date? If so, you probably cannot get it removed.

[bkmaggster]

NO - they can not add it to your credit report if you surrendered it IN the BK. If you surrendered it BEFORE the BK, then yes, they can report it. The filing date is the date that you use to determine before or after, not the discharge date.

Same thing with a house - if you surrendered it in the BK, it is supposed to say IIB and zero balance. The bank still must foreclose, but it is not suppose to report on your credit that way because you already surrendered the house in BK. Of course, if your property was foreclosed prior to your filing, it will show up on your CR.

This is really good info! Thank you!!!

[BillyRip]

Did the "voluntary repossession" take place before your filing date? If so, you probably cannot get it removed.

Filed, they were on the matrix, intended to keep car, discharged, was not asked to reaffirm, voluntarily turned it back in about 6 weeks after discharge.

[StartingOver08]

Filed, they were on the matrix, intended to keep car, discharged, was not asked to reaffirm, voluntarily turned it back in about 6 weeks after discharge.

Since you did not reaffirm the debt, they can not report it as anything other than IIB and zero balance.

If they do not correct it, you have a violation of the discharge injunction. Notify the CRA's of the incorrect reporting. If it is not fixed, notify the creditor. If its still not fixed, bring sanctions against them! You will get your TL fixed then plus some $$$ for damages. A negative TL after filing BK is a much harder hit on your credit then before BK.

[JRScott]

Filed, they were on the matrix, intended to keep car, discharged, was not asked to reaffirm, voluntarily turned it back in about 6 weeks after discharge.

Then it should show as IIB.

Contact the credit reporting agency and dispute the listing, you might need to include a copy of the creditor matrix and the bankruptcy discharge. State that it should show IIB.