How To Self Report Current Payments On Your Credit Report After Bankruptcy

You file a bankruptcy case and receive your discharge of debts. You are keeping your house and cars and continue making the payments on time. You assume this will help you rebuild your credit. But none of those payments shows up on your credit report. Why not? The most common reason given is that since the debt was discharged in bankruptcy, they cannot report voluntary payments being made on the loan. Let me explain this issue a bit further before getting [...]

2021-07-25T21:58:55-07:00June 27th, 2016|

Reaffirmation Agreement And Bankruptcy Discharge Check Your Terms Carefully

Make Sure Your Reaffirmation Agreement Contains Terms You Want You filed for Chapter 7 bankruptcy and had a balance due to the lender.  Faced with what seemed to be certain repossession, you agreed to sign a reaffirmation agreement.  All set, right?  Not necessarily. There's a moment in time when you reach a point of desperation.  You need that car to get to work each morning, pick up the kids from school, and a million other reasons.  It doesn't matter that [...]

2021-08-07T16:42:28-07:00October 13th, 2011|

Reaffirmation Agreements in Chapter 7

Much has been written already about reaffirmation agreements and this blog will not cover any new ground, but will provide a quick explanation for potential bankruptcy clients. Reaffirming a Debt Creates a New Obligation to Repay A reaffirmation agreement is a contract entered into during the pendency of  (usually) a Chapter 7 bankruptcy case which stops the particular debt from being discharged.  In other words, it creates an obligation to repay that debt after the bankruptcy case is completed. Is [...]

2022-02-09T10:30:28-08:00November 16th, 2008|

Can You Only Bankrupt Certain Debts and Keep Others?

Whether you can discharge (bankrupt) specific debts and keep others is a question that over the years I get asked repeatedly. Actually, strangely enough, clients don't ask it as a question.  They state it as if it were completely possible. "I want to get rid of my large debts and keep the small ones". After nearly twenty years of listening to this, I believe a lot of it stems from some very basic confusion of bankruptcy discharges and the general [...]

2021-07-27T17:01:54-07:00July 2nd, 2008|
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