Credit Union Cross Collateralization and car loans

[raising1rl]

Hello,

I filed Chapter 7 bankruptcy Pro Se on 03/29. I've been researching options regarding my vehicles. I have 2 in my name. I stumbled upon cross-collateralization. I'm fine surrendering my vehicle. It's negative equity. In the paperwork I stated I was planning on reaffirming, but that was before I found out about the cross collateralization clause.

However, my second car loan is my son's car. He is still 17 until the 28th, so the loan was in my name only. It's with a different credit union, PenFed, but I have another loan with that credit union as well. I'm assuming it will have the cross collateralization clause too. I have been getting all kinds of offers to purchase a new vehicle. All the advertisements are saying I can purchase a vehicle even before a discharge, so I wondered if it is possible to refinance the vehicle with another lender?

Thanks in advance

[PoorlyFunded]

ALL credit unions I can think of use cross-collateralization clauses in their loan documents. If you have both loans with PenFed, or any combination of loans, credit cards, or accounts, ALL of those assets are cross-collateralized. What that means for you: If you get rid of one, you have to get rid of them all. If you keep one, you have to keep them all.

As for refinancing? Big NO. That's a significant transfer of property and you can't do that.