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If a mobile home was not reaffirmed in a bankruptcy and you financed a new one then let that one go back is that fraud or illega

Saint Louis, MO |

mobile home was discharged in bankruptcy finance co says wasnt reaffirmed not on my credit so score is very low. I want a new home but cant borrow enough to pay the 38000 and add a new one. can I let the present one go back after buying a new one?I want a mortgage on my credit.

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Attorney answers 4


It is not fraud to surrender a mobile home back to a lender after a bankruptcy. If you didn't reaffirm on the mobile home loan in the bankruptcy, the lender cannot legally pursue you for a deficiency on the loan. However, the credit bureau can still report the repossession on your credit report. You really should speak with your bankruptcy attorney about this before you do anything. Good Luck!


Don't let anyone tell you that reaffirmation will help you build your credit score, that just is not true. If you want your credit report to show that you have faithfully paid, then write a dispute letter to each credit reporting agency and attach a copy of the payment history to show that you have paid.
If you did not reaffirm, and want to surrender the mobile home, you can do that, and then your credit report should show the loan was discharged in bankruptcy.

More information about disputing credit reports and a sample dispute letter can be found at the web site below.

I am not your attorney unless you and I have signed a retainer agreement. What I am saying is not legal advice. Do not act on this information without engaging my services, this is for consideration only.


So long as you did not reaffirm the old mobile home loan, you can surrender it back and not be responsible for the difference when they resell it. If it shows up on your credit report as still due, you can send a copy of your schedules and the discharge to the credit reporting agency and dispute it.


From your recital of facts, I don't find any illegal or fraudulent activity.

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