Legal Question in Bankruptcy in Pennsylvania

I just came out of chapter 7 bankruptcy. I kept my house and auto loan through the bankruptcy. I keep getting letters in the mail from auto dealers saying if you carry over a auto loan throught the discharge, as you continuing to make payments on the loan it does not not show up on your report to help re-establish your credit. I called my bank where I have the loan, and they couldnt answer my question. Is this true?

Thank you inadvance

Asked on 4/21/13, 10:15 am

1 Answer from Attorneys

Matthew Nahrgang Nahrgang & Associates, P.C.
0 users found helpful
0 attorneys agreed

It is up to a subscriber to a credit reporting bureau whether to report a debt or not. If they report it, they cannot display incorrect information pursuant to the Fair Debt Reporting Act. However, they can choose not to report anything.

That is a new tactic employed by lenders when debtors do not reaffirm the debt. It is an inconvenience, but nothing more. You can always show to any future lender that you actually made the payments and you are better off not being liable in the event you cannot make the payments at any time in the future.

Read more
5/10/13, 9:17 am

Related Questions & Answers

More Bankruptcy Law questions and answers in Pennsylvania

Looking for something else?

Get Free Legal Advice

8787 active attorneys ready to answer your legal questions today.

Bankruptcy Law Legal Forms

Browse and download our attorney-prepared and up-to-date legal forms from $4.99

Find a Legal Form

Featured Attorneys

Anthony RoachLaw Office of Anthony A. RoachChatsworth, CA
Timothy McCormickLibris Solutions - Dispute Resolution ServicesSan Francisco, CA
Barry SteinDe Cardenas, Freixas, Stein & ZacharyMiami, FL
Find An Attorney

Are you an Attorney?

Earn additional revenue and grow your business. Join LawGuru Now