jhughe90
07-23-2003, 01:22 PM
My fiancee filed about 2 years ago. On advice from her attorney she
did not write a reaffirmation letter on her auto loan but kept making
payments as an 'implied reaffirmation'. Afterwards when she had a
payment get mis-processed she had a terrible time getting anyone to
even speak to her because of the BK.
Recently she checked out her credit report as she would like to
refinance (14.9%!). Toyota is reporting a 0 balance on her credit
report as being discharged in bankruptcy. Is this correct or should
they still be reporting her with a balance and as paid and in good
standing? This would help rebuild her credit score, otherwise it's
just 2 new credit cards with small balances. Obviously she doesn't
own the vehicle as the title still has a lien on it I believe.
If she just stopped paying and let them have the vehicle back could
they report anything again since the original was already discharged?
Jeff
Brett Weiss
07-23-2003, 04:59 PM
Jeff:
The report is correct. The debt was discharged in bankruptcy,
and, generally speaking, she could return the car without
penalty.
--
Brett
************************************************** ***************
* Personal Injury/Malpractice Bankruptcy *
* *
* BRETT WEISS, P.C. *
* Attorneys at Law *
* Maryland, D.C. and Federal Bars *
* lawyer@erols.com *
* http://www.erols.com/lawyer *
* *
* Small Business Estates & Estate Planning *
************************************************** ***************
The Small Print: This response is for discussion purposes only.
It isn't meant to be legal advice and you shouldn't treat it as
such. If you want legal advice, speak with a local lawyer
familiar with your state's laws who can review *all* of the facts
and the law applicable to your situation.
************************************************** ***************
"jhughe90" <jeffhughes1@yahoo.com> wrote in message
news:76b0f24d.0307231222.288a5dee@posting.google.c om... My fiancee filed about 2 years ago. On advice from her
attorney she did not write a reaffirmation letter on her auto loan but kept
making payments as an 'implied reaffirmation'. Afterwards when she
had a payment get mis-processed she had a terrible time getting
anyone to even speak to her because of the BK. Recently she checked out her credit report as she would like to refinance (14.9%!). Toyota is reporting a 0 balance on her
credit report as being discharged in bankruptcy. Is this correct or
should they still be reporting her with a balance and as paid and in
good standing? This would help rebuild her credit score, otherwise
it's just 2 new credit cards with small balances. Obviously she
doesn't own the vehicle as the title still has a lien on it I believe. If she just stopped paying and let them have the vehicle back
could they report anything again since the original was already
discharged? Jeff
jhughe90
08-11-2003, 07:15 PM
So they would have no monetary recourse and about the worse that could
happen is that they could updated the credit report entry with a
"voluntary reposession" note? This is in KS if that makes any
difference. We are having a hard time getting answers from the
attorney that handled the BK.
Jeff
"Brett Weiss" <lawyer@erols.com> wrote in message news:<oWedne-h98m1vIKiXTWJhw@comcast.com>... Jeff: The report is correct. The debt was discharged in bankruptcy, and, generally speaking, she could return the car without penalty. -- Brett ************************************************** *************** * Personal Injury/Malpractice Bankruptcy * * * * BRETT WEISS, P.C. * * Attorneys at Law * * Maryland, D.C. and Federal Bars * * lawyer@erols.com * * http://www.erols.com/lawyer * * * * Small Business Estates & Estate Planning * ************************************************** *************** The Small Print: This response is for discussion purposes only. It isn't meant to be legal advice and you shouldn't treat it as such. If you want legal advice, speak with a local lawyer familiar with your state's laws who can review *all* of the facts and the law applicable to your situation. ************************************************** *************** "jhughe90" <jeffhughes1@yahoo.com> wrote in message news:76b0f24d.0307231222.288a5dee@posting.google.c om... My fiancee filed about 2 years ago. On advice from her attorney she did not write a reaffirmation letter on her auto loan but kept making payments as an 'implied reaffirmation'. Afterwards when she had a payment get mis-processed she had a terrible time getting anyone to even speak to her because of the BK. Recently she checked out her credit report as she would like to refinance (14.9%!). Toyota is reporting a 0 balance on her credit report as being discharged in bankruptcy. Is this correct or should they still be reporting her with a balance and as paid and in good standing? This would help rebuild her credit score, otherwise it's just 2 new credit cards with small balances. Obviously she doesn't own the vehicle as the title still has a lien on it I believe. If she just stopped paying and let them have the vehicle back could they report anything again since the original was already discharged? Jeff
Brett Weiss
08-11-2003, 07:55 PM
Exactly.
--
Brett
************************************************** ***************
* Personal Injury/Malpractice Bankruptcy *
* *
* BRETT WEISS, P.C. *
* Attorneys at Law *
* Maryland, D.C. and Federal Bars *
* lawyer@erols.com *
* http://www.erols.com/lawyer *
* *
* Small Business Estates & Estate Planning *
************************************************** ***************
The Small Print: This response is for discussion purposes only.
It isn't meant to be legal advice and you shouldn't treat it as
such. If you want legal advice, speak with a local lawyer
familiar with your state's laws who can review *all* of the facts
and the law applicable to your situation.
************************************************** ***************
"jhughe90" <jeffhughes1@yahoo.com> wrote in message
news:76b0f24d.0308111815.7751138c@posting.google.c om... So they would have no monetary recourse and about the worse
that could happen is that they could updated the credit report entry with
a "voluntary reposession" note? This is in KS if that makes any difference. We are having a hard time getting answers from the attorney that handled the BK. Jeff "Brett Weiss" <lawyer@erols.com> wrote in message
news:<oWedne-h98m1vIKiXTWJhw@comcast.com>... Jeff: The report is correct. The debt was discharged in bankruptcy, and, generally speaking, she could return the car without penalty. -- Brett
************************************************** *************** * Personal Injury/Malpractice
Bankruptcy * *
* * BRETT WEISS, P.C.
* * Attorneys at Law
* * Maryland, D.C. and Federal Bars
* * lawyer@erols.com
* * http://www.erols.com/lawyer
* *
* * Small Business Estates & Estate
Planning *
************************************************** *************** The Small Print: This response is for discussion purposes
only. It isn't meant to be legal advice and you shouldn't treat it
as such. If you want legal advice, speak with a local lawyer familiar with your state's laws who can review *all* of the
facts and the law applicable to your situation.
************************************************** *************** "jhughe90" <jeffhughes1@yahoo.com> wrote in message news:76b0f24d.0307231222.288a5dee@posting.google.c om... My fiancee filed about 2 years ago. On advice from her attorney she did not write a reaffirmation letter on her auto loan but
kept making payments as an 'implied reaffirmation'. Afterwards when
she had a payment get mis-processed she had a terrible time getting anyone to even speak to her because of the BK. Recently she checked out her credit report as she would
like to refinance (14.9%!). Toyota is reporting a 0 balance on her credit report as being discharged in bankruptcy. Is this correct
or should they still be reporting her with a balance and as paid and
in good standing? This would help rebuild her credit score,
otherwise it's just 2 new credit cards with small balances. Obviously she doesn't own the vehicle as the title still has a lien on it I
believe. If she just stopped paying and let them have the vehicle
back could they report anything again since the original was already discharged? Jeff
