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repossession reported after bankruptcy


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In the process of trying to work out all my credit issues, a friend of mine, who had gone through bankruptcy three years ago, was trying to assist me with some questions. In the process we pulled his free credit report. He only managed to get one on line but we were suprised at what we found.

He had a boat that was financed when he filed. He was never late on the payment up to filing the BK. In the middle of the BK proceedings, about a month before discharge, the company "repossessed" the boat. They just came by and picked up the boat and the trailer that it was on. The trailer wasn't financed and eventually it just showed back up in his yard with no explaination.

Anyway, they reported it as a repossession and default two months after he filed for BK and continue to report it even after the discharge. Two other companies also continue to report late after the BK filing, but the boat was a brand new negative reporting. He disputed it online and is waiting.

We wondered why no one would let him re-establish his credit even though it is over 3 years past the discharge date.

Should he contact the OC?

B

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He filed his own BK, no attorney used. The boat was included in the BK and the new TL lists it as discharged under the final BK, only after they posted it as a 90 day late and repo. He was current on this loan up to the day that he filed for the BK.

He filed BK around October 2005, current on boat loan. Feb, 2006 they picked up the boat and reported him 90 days late and repossession. March 2006 the BK was finalized.

On the CL for the boat they list that he filed BK in March 2006 (finalized date)instead of the actual October 2005 filing date.

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