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capulliam74

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Foreclosure on credit report after Chapter 13?
Filed chapter 13 and we are giving up our home. We included the deficiency balance in our plan. We needed to be able to stay in the home for as long as possible so we are just letting them proceed with the foreclosure process. Will this foreclosure appear on my credit report, or am i 100% working toward rebuilding now?

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Depends on a lot of factors which you didn't mention. Is the house being given up as part of the foreclosure? If not, it should be included! Include it in the Ch 13, and they legally can't come after you post-discharge for any difference after they sell the place. Do you have a VA/FHA loan? Sometimes a foreclosure on those loans don't show up in the credit reports because they're insured by the government (I only know that much because my own Ch 13 --now discharged-- had a foreclosure included in it, and it never showed up on my credit reports). In all cases double check with your bankruptcy lawyer - he or she should give you a better feel for how that will end up.

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