Legal Question in Bankruptcy in Georgia
We filed for chapter 7 bankruptcy and included my Saturn ION Redline in the paperwork but reaffirmed. Since we have been discharged we have noticed that the bank we financed it through was no longer reporting my payments to the credit bureau. It looks like we let the car go back but we didn't. Can we stop paying for it and see if they come get it without it hurting our credit?? Since it isn't being reported after all? We need a different car due to the Saturn not having enough seats for me, the wife and our three kids.
2 Answers from Attorneys
Of course an inaccurate credit report gives you no right to breach a contract. Further, you failed to tell us what happened when you contacted the lender and credit bureau to ask them about it - the obvious first step. If you properly reaffirmed (contact your BR lawyer to see if it was approved) you owe the debt and failing to pay means a default, repo, and likely a lawsuit. All will be on the report.
Once you reaffirm and 60 days elapse, if you let the car go back, you can expect to be sued and garnisheed if you let the car go back. While you are entitled to get your credit report fixed, it would be a gigantic and expensive mistake to let the car go back. Rethink your plans.
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