Why did my home and car loan stop credit reporting after bankruptcy in Minneapolis, Minnesota?
When you file for bankruptcy, you must list all your assets and debts. This includes assets you want to keep like cars and mortgages. You can continue to pay your debts even though you have listed the assets and creditors. This is if you wish to keep the secured property. The bankruptcy automatic stay will prevent all creditors from reporting to your credit report when you file a bankruptcy. The automatic stay is a protection that you receive when you file bankruptcy to stop creditors from collecting debts. Even if you want to keep your vehicle and home, but have been paying for them, these payments will no longer appear on your credit reports. If you want to keep a vehicle or other secured asset, but you no longer make payments, then those missed payments will not be reported on your credit.
After receiving your bankruptcy discharge, try to see if credit reporting bureaus will report your full and on-time payments retroactively. You would need to file an official dispute showing that each of your payments was made on time. It does not work every time and if it did, you would have to do it every year. LifeBack Law Firm offers a free 90-day credit repair program following your bankruptcy discharge. We can give you more information and even a form to file a dispute if you wish.
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If you have questions about bankruptcy and would like to do a free consultation to go over your options, visit
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