If you surrender a vehicle in a CH7 what will that look like on your credit? Should it be IIB or Repo?
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Chapter 7
Discharged: 1/23/06
Closed: 1/23/06
DH
12/19/05: TU-550 | EF-482 | EX-524
01/16/05: TU-519 | EF-485 | EX-524
DW
12/19/05: TU-530 | EF-517 | EX-550
01/23/05: TU-527 | EF-443 | EX-550
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if you listed it on the BK petition then it can say IIB and $0 balance.
it was repo'ed in a sense so im not sure about if it can say that. i would fight aganst it maybe. but lenders arent going to care about tht. IIB is just as bad and thtey know why you gave it back anyway.Im not an attorney or a trustee. You cant trust me either though!
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Funny thing....we surrendered our van, and included in BK. I disputed it with TU cause it was still showing as owed, and they up and removed it, completely!!.
On Experian and Equifax, it says collection, and what the balance is, I am disputing those now. It doesn't say repo, though?? so go figure.
pink-amuletComment
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If you surrender it in BK, it should not say repo. If it is repo'd and then you file BK, it can say repo'd, balance = $0, included in bankruptcy.Most of my information is from personal experience or HOURS and HOURS of online research. When you're searching online, keep in mind there is no guarantee that the info is completely up to date, and your situation is unique from anyone else's. Do your homework, and consult with an attorney so you can make an informed decision.Comment
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