Durango, CO Bankruptcy Law Firms & Lawyers

Car loans are not "taken off" of a bankruptcy even if you pay off the debt. Most car loans aren't paid at the dealership. Be sure you know what you are doing before you step in something smelly!

This would relate to the holder of the security interest and not the trustee. It is incumbent upon the declared lien holder to demonstrate a valid security interest. You may then have the option of redeeming the property for its current market value. As opposed to the case with motor vehicles, for example, holders of security interests in much-depreciated personal property like electronics or lower-end jewelry are not prone to invest in actual recovery. Contact your bankruptcy attorney for more information. This answer (as well as our Web site) doesn't address all facts & implications of the question; it's general info, not legal advice to be relied upon; it creates no attorney-client relationship; it may be pertinent to CA only; it's independent of other answers.

I'm assuming that your parents are your co-signers. If you are the primary debtor had a deferment, you shouldn't have a derogatory entry on your credit report. I would send a letter the credit bureau and ask them to accurately report the situation. They are required do that under federal law.