HI all,
I had my 341 meeting. All went well so far. I have reaffirmation papers for a Chevy pick-up I bought last year.
It is my only vehicle. My job may be laying me off which will require a 65 mile commute one way to keep working. I am dreading the gas prices going back up.
Anyway, Regions bank says they WILL NOT change the terms of the reaffirmation. The truck now is worth 23,000 max. I owe 27,000. They will not change the amount owed nor the payment. 467.72 for 80 months.
She also told me that if I did not sign the papers by the time of discharge they will come after the truck. I was hoping just to keep paying on it until I either had to let it go ( if it comes to that) or pay if off.
My Lawyer said I do not have to sign anything. To keep making my payments, never be late on them. Not even for one payment or they will come get it. But as long as I am current they cannot come after it. Is this true? Is she just trying to get me to sign the papers or will they really come get it if I am current?
I have missed no payments and I have never been late.
I feel like I am stuck. I need a vehicle to get to work. But I fear getting locked into something not worth it and not cheap on gas. BUt if I get behind and they come after it anyway. Then I may have my wages garnished for the remainder on a trcuk I no longer have PLUS be trying to pay for another vehicle. IF I can even get one financed, which I am guessing is not going to happen for a couple of years.
What would you all do in my situation?
Thanks
BG
I had my 341 meeting. All went well so far. I have reaffirmation papers for a Chevy pick-up I bought last year.
It is my only vehicle. My job may be laying me off which will require a 65 mile commute one way to keep working. I am dreading the gas prices going back up.
Anyway, Regions bank says they WILL NOT change the terms of the reaffirmation. The truck now is worth 23,000 max. I owe 27,000. They will not change the amount owed nor the payment. 467.72 for 80 months.
She also told me that if I did not sign the papers by the time of discharge they will come after the truck. I was hoping just to keep paying on it until I either had to let it go ( if it comes to that) or pay if off.
My Lawyer said I do not have to sign anything. To keep making my payments, never be late on them. Not even for one payment or they will come get it. But as long as I am current they cannot come after it. Is this true? Is she just trying to get me to sign the papers or will they really come get it if I am current?
I have missed no payments and I have never been late.
I feel like I am stuck. I need a vehicle to get to work. But I fear getting locked into something not worth it and not cheap on gas. BUt if I get behind and they come after it anyway. Then I may have my wages garnished for the remainder on a trcuk I no longer have PLUS be trying to pay for another vehicle. IF I can even get one financed, which I am guessing is not going to happen for a couple of years.
What would you all do in my situation?
Thanks
BG
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