What happens to a debtor’s credit report regarding a post-bankruptcy foreclosure?

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What happens to a debtor’s credit report regarding a post-bankruptcy foreclosure?

I filed bankruptcy and it was discharged about 1 1/2 years ago. I included the house; it wasn’t reaffirmed. I will not make any money on the sale so I stopped payments to the lender; it is foreclosing on the house. When the judge orders a judgment to foreclose, will there be a judgment placed on my credit report in addition to the bankruptcy, or will the courts not to contact the credit bureaus because this house was already included in the bankruptcy?

Asked on June 4, 2012 under Bankruptcy Law, Pennsylvania

Answers:

Rebecca Coleman

Answered 9 years ago | Contributor

The judgment will likely appear on your credit report. The courts do not report anything to the credit report agencies. Rather, the agencies themselves search the public record for judgments, foreclosures, and lawsuits. So once a judgment is entered in the public record, the credit reporting agencies will eventually pick it up and add it to your credit report.


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