Q: I went through chapter 7 bankruptcy and kept my car. Why does my credit report say closed account do I have to pay on it
Want to know if they will come take the car if I stop paying. Just a little confused nothing was explained to me
A: Did you sign a reaffirmation agreement and was it filed? If so then you can keep the car as long as you keep current on the payments.
If you didn’t sign a reaff then the lender will probably repo it if you stop paying.
You probably didn’t sign/file a reaff. That would explain the credit report entry.
Thomas. R. Morris agrees with this answer
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