If you surrender it, it will show up as a default for 7 years on your credit reports. . You will also be responsible for any deficiency balance after it is sold. If you file bankruptcy and is approved by the Courts, you walk away debt free.

However, bankruptcy stays on your credit file for 10 years and along with a court judgement against you are the absolute worst entries you can have on your credit file. “Voluntarily” surrendering your motorcycle is no different than a repossession in terms of your credit. What you can do is send a letter to the bank who holds your loan and offer to repay the difference in the amount you owe minus the amount they recover from the sale, assuming there will be some, if they remove the entry from your credit file. I have been working to correct and improve my credit file for a couple of years now and find the website whose link is below to be very helpful. Take action!