cross colataral and reaffirming question

[tyspruiel]

I have 2 vehicles that are financed through a credit union. My question is, we are reaffirming one and giving back the larger payment one. How does that work if they are both cross colateral? We called our credit union but they informed us that they cannot discuss anything with us since we are filing and to talk to our attorney. :o Our attorney has not mentioned anything and said that everything looks good and our meeting should go smoothly. Just curious if he knows anything or should I not worry? Has anyone experienced this situation or know. Thanks in advance.

[dcprdiva]

the waiting part of BK is sooo hard. i would let my attorney handle the drama. that is why you are paying him. i would just chill... personnally, i don't have an attorney, so I have to deal with the drama and getting anxious... you don't so enjoy it!

[EdytaHome]

Good to be back! All moved... and by the end of this month I should be discharged!

I have some experience dealing with a CU during BK. It's not fun.
I had a signiture loan and a camper loan through the CU, I wanted to discharge the signiture loan and keep the camper since I only owed $500 on it. The CU told me no way, that the two loans were cross colateralized and I needed to pay them the current worth of the trailer ($2500) in order to keep it. I declined and surrendered it. By the way, I was dealing with them directly outside of my lawyer, it was much faster that way.

[Lhen1059]

we started the bk process in Feb 06and filed in June 06 CU repo the vehicle which the title has been released to us in 2004, we were told for cross colateral. Discharged in Sept. 06 the, we are trying to get the vehicle back but they said we signed the promissory note and that they took the vehicle before bk and even though the loan has been discharged the vehicle is theirs now. We still have the title and there is no lien on it, they are willing to sell the vehicle back to us but we just don't have the money. My husband has terminal cancer and I am the sole caregiver and we only have his pension and ss to live on. Is there anything we can do at this point to get the vehicle back since the loan has been discharged and there is no reaffirmation and cu did not send any claim?

[lrprn]

MODERATOR REQUEST: Lhen1059, you pulled up a thread that is more than a year old to add a reply - this violates our forum rules. In the future, please start a new thread when you have something to share - thanks so much!