Ruecler2000
New Member
I filed for Bankruptcy, and it was discharged in Dec 2002. I made the decision to reaffirm my auto loan, (against my attorney's recommendation), thinking it was the honorable thing to do. Subsequently, while trying to rebuild my credit, I had a credit report ran, and my vehicle loan showed up like this on an Experian report: BKLIQREO
There was another creditor that I chose to reaffirm as well and it shows: BKREAFF
Anyway..the long and short of it, is that I go to trade in my vehicle for another one, and the dealer says "your trade in is showing up as involved in a Bankruptcy, not a reaffirmation. I show him my reaffirmation documents that I brought with me. He suggests I do a voluntary repo, leave the vehicle right there on his lot and they can finance me into a newer used veh. I did this, thinking since the trade in was showing as a Bankrupty anyway, it would not make a difference. I just did this Monday 2/18/2003, and now I'm worrried sick about the consequenses. Mostly "deficiency judgement".
If I reaffirmed my vehicle loan, why was it not indicating that on my credit report? Also Ford never sent me any invoice statements in the mail as they were supposed to after the reaffirmation. Am I worrying for nothing? or am I going to face dire consequences? Please help..thank you
There was another creditor that I chose to reaffirm as well and it shows: BKREAFF
Anyway..the long and short of it, is that I go to trade in my vehicle for another one, and the dealer says "your trade in is showing up as involved in a Bankruptcy, not a reaffirmation. I show him my reaffirmation documents that I brought with me. He suggests I do a voluntary repo, leave the vehicle right there on his lot and they can finance me into a newer used veh. I did this, thinking since the trade in was showing as a Bankrupty anyway, it would not make a difference. I just did this Monday 2/18/2003, and now I'm worrried sick about the consequenses. Mostly "deficiency judgement".
If I reaffirmed my vehicle loan, why was it not indicating that on my credit report? Also Ford never sent me any invoice statements in the mail as they were supposed to after the reaffirmation. Am I worrying for nothing? or am I going to face dire consequences? Please help..thank you
