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Old 07-24-2005, 07:02 AM
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Join Date: Jun 2005
Posts: 2

Car Loan after Chap 7

What is the name of your state? NH
I have been discharged from my Chap 7 BK. My car was listed on the BK and I have been paying on it but on my credit report is states 0 balance Included in Bankruptcy. The car was never reaffirmed.
This car now needs some significant amount of work. If I surrendered it back to the bank would it be reflected worse on my credit report? What is the difference if I keep it and try and sell it to pay off or just surrender it?
thanks so much for your help!
  #2  
Old 07-24-2005, 03:38 PM
Senior Member
  
Join Date: May 2001
Posts: 6,455
If you can sell for an amount equal to the loan balance, I'd try that for sure. At least you won't have a repo on your report.
If not, you know you can walk away without any liability for any deficiency balance.
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