Repossession before bankruptcy question

[Anonymous]

If your car is repossessed before filing for chapter 7, does that report differently than if it was repossessed after?

This is a lease if that matters.

[Anonymous]

@jdizzle1, sorry your post got missed somehow. 

Short answer is that anything that happens prior to bankruptcy may continue to report. The only difference is that if your obligation to pay the account was discharged, the status will be changed to "included in bankruptcy" and the balance is reported as $0.

[Shooting-For-800]

Of course.  Your BK is your "reset".

Messing up credit after "reset" is much worse than before.

GL!

[tooleman694]

My lease went as a repo before I filed, I included it in my BK because we still owned on it. The lawyer rejected the lease and now it shows IIB, no late payments either.

[Shooting-For-800]

As long as you have no negatives after your BK date, you are not worse off.