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@Anonymous wrote:
"Since I'm not signing the reaffirmation that the bank sent my attorney, and yes I'm current on my car loan, can the bank take it (repo)?"
- Usually not, but are you sure the lender is a bank and not a credit union? The only way a lender can repo is if you are in default. Usually you have to be more than 30 days late on a payment to be in default, but many credit unions put in their loan docs that simply filing BK makes you in default. Banks rarely do this, and as long as you remain current on the payments they're happy to accept your payments and let you keep the car..
"Will my credit report show discharged, and if so, can the bank indicate on my credit report anything negative?"
- Since you are not reaffirming, the car loan should show on your credit report as Discharged in BK, $0 balance, Closed, and that's all the bank can report since you are current on payments. And yes, it will report as Closed because the debt was discharged, it's just the lien on your car that continues, enabling them to repo if you go more than 30 days late.
Anyone else share their story? Great info!