Bank of America debt consolidation

[nodough]

My husband has a 32K BofA debt consolidation loan that was taken out in sept 2008. It's the only one we're worried about. Has anyone had an objection from Bank of America?

[jojo]

I have the same thing. Had 341 last week. No objection yet.

[nodough]

Thanks. That's what I was hoping to hear. We just missed our first payment on it. Did you pay on it up until your filing?

[jojo]

I (stupidly) paid up until Feb., I believe I file in March/ beginning of April.

[nodough]

I was going to try to keep paying so that they wouldn't object but the payment is so high I just can't do it anymore. My second attorney that I consulted with said we would have to do a chapter 13 because the BofA loan was too new. I'm thinking I'll risk it and go for the chapter 7 anyway because we don't have any disposable income at all.

[jojo]

I say go for 7. What do you have to lose? I don't know how it works, but if you don't qualify for 7 would the trustee convert it to 13?
If you are definately filing, stop paying. I could have saved myself $600. That's money that could have gone to the attorney.

[nodough]

Yes we're definitely filing and I could really use the $595 a month to pay the attorney. We qualify for a chapter 7. No assets that aren't exempt and we're about $1500 to 2K negative income every month right now. The BofA loan was this guys only reason for doing a 13 and he said we'd have to pay 450 a month for 5 years. We weren't thinking bankruptcy when BofA offered us the loan. We really thought it would help.