Our credit union wanted us to keep our car for 10k. It is worth like 6-7k. Our Attorney went back at 8k. She also offered 8500 for a trailer I owe 17.5k on. she has left several messages and they will not call her back. I was going to reaffirm the trailer regardless. My question is.... I haven't paid my car payment since November, if they don't answer her and we are discharged can they come and take the car, even though they want us to keep it. Does all paperwork need to be signed before we are discharged? We should be on May 5th. I would rather not keep car but I need it to tow trailer and am afraid we won't get a loan after we are done....
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If you are going to reaffirm, you need to do it and have it filed before you are discharged.
If you are going to do a ride through, you need to be current on your payments.
Why don't you negotiate with the Bk dept of the CU yourself - it is much more efficient than having the attorney do it and usually they will negotiate verbally and then put it in writing.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.. -
I've posted this many times. FORGET THE CAR! I've been on AutoTrader.com almost daily. There's SO MANY nice cars on there for $3,000 to $8,000 that it's not even funny.
After my BK, I plan on saving up as much money as I can get and then as soon as they take the car back, I want to pay for a car for CASH MONEY!Comment
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I just had to put the money we saved down on a house so we had a place to live. I can not buy just any car. I need a car capable of towing a 3800 pound trailer or I will be out of work and living on the streets. I wish I could save that much money to buy a vehicle outright.. It will never happen.... So I can't just forget the car, really I wish I could. I really wish I could get approved for a loan so I can get a newer truck. But..... Can't take my chances of not getting a loan!Originally posted by debtmonster View PostComment
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In your post you said that your car is worth 3 to 4 thousand less than what you owe, if you gave up that car and financed another car after bk you will definately pay a much higher interest rate, so potentially you could end up paying just as much in interest. I guess I would figure out how much it will cost to finance that same car at the post bk interest rate but lower value. I wonder what would be a better deal for you in the long run?Comment
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