Posted on: 30th Jul, 2010 04:02 pm
filed a chapter 7 bankruptcy but kept our cars and trailer. on our credit report the trailer is showing up as opent current and active but our car loan from credit union is showing as zero balance and discharged under bakruptcy so none of our payment history and current payments are being reported. the bank told us they did ot have to report it because we filed a chapter 7 . is this true ?
Hi SEREENAMARKS,
If you did not include the car in your bankruptcy account, then the lender cannot close the account and mention it as zero balance and report it as discharged under the bankruptcy filing. You should contact the bank and let them know that you never included the car loan in your bankruptcy filing. They may take the required steps and do the needful.
If you did not include the car in your bankruptcy account, then the lender cannot close the account and mention it as zero balance and report it as discharged under the bankruptcy filing. You should contact the bank and let them know that you never included the car loan in your bankruptcy filing. They may take the required steps and do the needful.