04-16-2012 07:06 AM
Hello all. Back in 2007 I filed for Chapter 13. My car which was only 5 months into payments was included in the plan. I had a 6 year loan out for it however since it was included in the BK they adjusted the loan for 5 years so it would be paid off at the end of the BK. Well I just sent in my final payment last month and the hearing is scheduled for April 18th. My question is since the car was included in the bankruptcy and I paid it off in 5 years instead of 6 how would this affect my Auto FICO score? I am just wondering if anyone else had a similar experience. I am in the market for a new car due to some issues with my car.
04-16-2012 10:41 AM
If the tradeline was included in the bankruptcy, your auto enhanced FICO score will be down the drain. A BK is a major derog item anyways, so when you consider an auto-enhanced FICO "enhances" your previous auto trade lines, it will be significant.
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