Posted by Sean on March 13, 2001 at 21:07:32:
When a person stops paying on a mobile home you have three methods of recourse:
B) Slamming their credit
Generally when someone stops paying you repossess the mobile home first. When you sell that mobile home any amount left unpaid the person still owes you, then you can decide if it’s worth your time to put it on their credit or pursue a judgement.
However once the person files BANKRUPTCY they are no longer personally liable for the debt. That doesn’t stop you from taking back the mobile home, but if they owed $4,000 and you repossess a mobile home that’s worth $3,000 they don’t still owe you $1,000 because of the bankruptcy.
You could always put it on their credit as a repossession, but they’ll just get a copy of their bankruptcy discharge papers and send it into the credit bureau to get it updated to “included in bankruptcy.” Since they already have a half-dozen other accounts showing “included in bankruptcy” … what’s another one?