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Expert: - 8/16/2006


Question
My Chapter 7 bankruptcy was discharged in june 2005.  At the time I wrote GMAC stating I decided to keep my car. However,  I recently ran a CR-report and found GMAC is showing "included in bankruptcy", and "account closed". They also have not reported my last 12 monthly payments Ive made to them.  My discharge papers do not say is was included rather " Property will be redeemed pursuant to 11 U.SC. sec 722."  I no longer want the car and with GMAC not reporting my payment history can I return the car to them without further obligation?

Answer
OK, several things you're saying are inapposite.  Discharge "papers" don't say anything about whether a debt has been redeemed.  That goes on the Statement of Intention and all that is is a statement of your intent.  It has no meaning beyond that.

In any event, if you did not sign and have filed a valid reaffirmation agreement prior to your discharge, then you have no further obligation on the loan and can return the car without having to pay anything else on it.

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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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