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Bankruptcy Law/Reaffirmation not signed

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Expert: - 2/26/2010


Question
My ex-husband and I filed bankruptcy in 1999. So as of date it is no longer on our credit reports. We have a mobile home that we thought we had signed a reaffirmation on but we have came to find out from the loan holder that we did not sign one. The loan is not on our credit reports and we are curious what would happen if we surrender the home, we do not own the land it is currently on, payments are current. Would we have to finish paying what is left on the loan? We ask the company that has the loan and they said it would show as repossession on the credit reports but could not give us any more information. If the loan hasn't been on our credit report since the bankruptcy was filed in 1999 how can it reappear now? Any information would be greatly appreciated. We reside in Virginia.

Answer
If you did not reaffirm the debt on the mobile home, and have not since refinanced or gotten a new loan, then the debt was discharged in your bankruptcy and there is no further obligation to pay on it.  If you surrender the home, that's all they can get from you.

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Mark J. Markus- California Bankruptcy Attorney

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Mark J. Markus is a Los Angeles bankruptcy attorney who has practiced exclusively bankruptcy law in California since 1991 and is rated A+ by the Better Business Bureau and is AV-rated by Martindale-Hubbell. He represents debtors, creditors, and Trustees in Chapter 7, Chapter 11, and Chapter 13 of the bankruptcy code throughout California.

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Visit our California bankruptcy webpage at http://www.bklaw.com for more information on bankruptcy in general and Mark J. Markus in particular. Many questions are answered on the web page (hint, hint).
The Markus webpage also contains more information on

  • Which Chapter to File,
  • business bankruptcy,
  • chapter 7 bankruptcy,
  • chapter 11 bankruptcy,
  • chapter 13 bankruptcy,
  • Do You Need a Lawyer to File Bankruptcy?
  • Frequently Asked Bankruptcy Questions

    Also visit our Los Angeles bankruptcy blog for interesting articles and much more.



    Organizations
    Central District Consumer Bankruptcy Attorneys Association (CDCBAA) Los Angeles County Bar Association (LACBA) Commercial Law & Bankruptcy Section of the Los Angeles County Bar Association Financial Lawyers Conference (FLC) National Association of Consumer Bankruptcy Attorneys (NACBA) Los Angeles Bankruptcy Forum (LABF) American Bankruptcy Institute (ABI) San Fernando Valley Bar Association (SFVBA)

    Publications
    Central District Consumer Bankruptcy Attorneys Association Newsletter September 2007 (Vol. 1, Issue 2)

    Education/Credentials
    J.D., University of Arizona 1990. B.A. Economics, California State University, Northridge 1986. For more details please click here

    Awards and Honors
    AV Rated by Martindale-Hubbell (http://www.martindale.com) A+ Rated by Better Business Bureau

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