My chapter 13 case started in July of 2008. I have been on time with my trustee payment every month. The payment is $1150/month for roughly 4 more 3.5 more years. Long story short...I went through an awful divorce and got stuck with everything.
I have a lease that I reaffirmed (bad idea). The payments are outside of the 13 case. I have fallen a few months behind. In addition, the lease is up at the beginning of March and I will have significant overage charges due. I have the option of buying the car and avoiding the mileage overage charges, however, I would prefer to just start fresh and buy a used car that is less expensive.
What are my options? If I turn the car in, I will owe in excess of $6000. My lawyer said I could not add the money owed into my plan because I reaffirmed the lease. Will auto financing be a problem? I have solid income and will not much debt at all showing up in my credit report. My score has rebounded to a 645.
Any help you can provide would be greatly appreciated!
I have a lease that I reaffirmed (bad idea). The payments are outside of the 13 case. I have fallen a few months behind. In addition, the lease is up at the beginning of March and I will have significant overage charges due. I have the option of buying the car and avoiding the mileage overage charges, however, I would prefer to just start fresh and buy a used car that is less expensive.
What are my options? If I turn the car in, I will owe in excess of $6000. My lawyer said I could not add the money owed into my plan because I reaffirmed the lease. Will auto financing be a problem? I have solid income and will not much debt at all showing up in my credit report. My score has rebounded to a 645.
Any help you can provide would be greatly appreciated!