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    Need help with an Auto situation

    At the initial meeting my attorney I was told by their office that it would be no problem to renegotiate my payment on my car. I am trying to do what is right and make sure that I am in the best possible position for future prosperity with my family - the payment of 677 a month is just not feasible. 3 days after the meeting of the creditors - in which my intent was made to reaffirm and retain - I was advised by my attorneys office that they are unwilling to negotiate. My wife and I needed the 2 vehicles so we thought we should keep, but decided after we took the financial planning class to negotiate; Ford said no and we made arrangements to surrender. I get a letter from ford today stating that we were responsible for the residual amount. I called my attorney and he said he would look into this. WTH is that? Is this anything that anyone else has run into? I have not reaffirmed the vehicle and I looked at the intent - it stated intent to reaffirm; IF I KEEP THE VEHICLE.....has anyone ever ran into this?

    #2
    If you are still within your 60 days of filing (in the automatic stay period) and you have NOT yet been discharged, all you have to do is file an amended statement of intentions. You would surrender the vehicle and say so on the amended statement and sign it. It must be filed before you are discharged. Your attorney will have you sign it and he files it with the court. Then you are not responsible for any deficiency.

    Ford has a reputation for not negotiating the reaffirmations and if fact has a reputation of picking up the vehicle IF you do not sign the reaffirmation.

    Best to give it back in the BK.

    If you are discharged already, I don't know what you can do. Maybe one of the others has a solution.
    Filed CH 7 9/30/2008
    Discharged Jan 5, 2009! Closed Jan 18, 2009

    I am not an attorney. None of my advice is legal advice in any way..

    Comment


      #3
      ok - I have not been discharged - my attorney said he filed an new letter of intent... BUT I saw nothing on Pacer and I signed NOTHING.

      We are set to discharge 3-26, that is 60 days.

      HE said to call him back in a few days.

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        #4
        also.... would it really matter when it happened if we never signed the reaffirmation?

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          #5
          Originally posted by reset View Post
          also.... would it really matter when it happened if we never signed the reaffirmation?
          IDK. I am only going by my experience. I originally was going to reaffirm my car and my husbands car. Got my husbands car negotiated and signed reaffirmation. My lender would not cooperate so I had to amend the statement of intentions, sign it and my attorney filed it. Then I called the BK dept (for my lender) and told them where to go to pick up the car!
          Filed CH 7 9/30/2008
          Discharged Jan 5, 2009! Closed Jan 18, 2009

          I am not an attorney. None of my advice is legal advice in any way..

          Comment

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