Legal Question in Bankruptcy in California

Can a foreclosure appear on a Chapter 7 AFTER I included it as a debt?

I went bankrupt in 1994, and listed the house as exempt/made the payments for 2 more years then gave it back to the bank as a foreclosure/did not legally ''reaffirm'' the debt by signing anything/just made the payments for those 2 years after the bankruptcy. Can I include the foreclosure in the original bankruptcy and NOT have it listed as a separate foreclosure on my credit report since I did list it as a debt but exempt? Or did I ''reaffirm'' just by making the payments? AND....how does the negative debts come off after 7 years-do I contact each and every credit agency and ask them or do they do it automatically? I realize some stay on for 10 years.


Asked on 9/08/01, 12:41 am

1 Answer from Attorneys
Mark Markus Law Office of Mark J. Markus

Re: Can a foreclosure appear on a Chapter 7 AFTER I included it as a debt?

I'm not sure that I understand your question. A foreclosure is a remedy for a creditor, not something you "include" in a bankruptcy. The foreclosure can appear on your credit report when a foreclosure takes place regardless of whether you have reaffirmed the debt or not. I believe foreclosures stay on your credit record for 7 years.

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Answered on 10/25/01, 6:42 pm


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