Auto Loan Mod....Chase

[mimic]

Just filled last Saturday! First step of many to come but at least I'm moving forward.

Just received a letter from Chase to reaffirm a car loan with them. Called them and tried to negotiate a loan modification, in which I was flat out refused. Was told we don't do that!

Questions: Has anyone done a ride through w/Chase? (Wan't to keep the car, but not sure about reaffirming under current terms.) Also, has anyone been able to do a loan modification with them?

Thanks.

[JRScott]

Did you file Pro Se or with a lawyer?

[mimic]

I filed w/an attorney, however was advised that they don't get involved in modification.

[mimic]

Please....any imput would be greatly appreciated.

Work 65 hours a week and try to complete paperwork on weekends. Should I reaffirm?

[biotechsolution]

I've never heard of a modification on a car loan.

[mimic]

"loan modification" was Chase's term not mine. They said that they would not extend (asked for an additional 12 months) the term of the loan.

Figured it would be in their best interest to do so. (perhaps I was wrong?)

[hamburgervol]

what do you owe and what is the car worth?

[mimic]

It's kinda a wash.

Owe $23,000, and Blue $22,850. But if they went to auction I'd think they'd take a pretty significant loss. Truck blew a motor a year ago...can't look good on carfax.

So I had figured it would be in their best interest to negotiate....am I wrong?

[JRScott]

I assume your looking to have a lower payment but extend the life of the loan.

If they aren't willing to play ball its not going to happen. With the value and amount owed pretty equal there is no real way to cram it down.

[laurannm]

We are currently doing a ride through with Chase (about 9 months now). So far it has been business as usual. They don't send statements and cut off our online access, but we just pay via our online bill-pay through our bank.

[RainMoM]

We are currently doing a ride through with Chase (about 9 months now). So far it has been business as usual. They don't send statements and cut off our online access, but we just pay via our online bill-pay through our bank.

why would chase cut off access to online banking if that's the way you pay them ? Reason i ask is, I myself have my car loan threw chase, and i pay online .. So now i have to go to there bank in order to pay them ?? ( hope this makes since, i been up for the past two days with my daughter whos sick )

[OhioFiler]

why would chase cut off access to online banking if that's the way you pay them ? Reason i ask is, I myself have my car loan threw chase, and i pay online .. So now i have to go to there bank in order to pay them ?? ( hope this makes since, i been up for the past two days with my daughter whos sick )

You no longer have an account with Chase if you don't reaffirm the loan. IT wouldn't make sense for you to be able to access an account online you don't have.

You can make your payment electronically from your own bank but don't expect a bill from Chase.

[laurannm]

why would chase cut off access to online banking if that's the way you pay them ? Reason i ask is, I myself have my car loan threw chase, and i pay online .. So now i have to go to there bank in order to pay them ?? ( hope this makes since, i been up for the past two days with my daughter whos sick )

Technically speaking, since you don't reaffirm and your personal liability is discharged as part of the BK, sending a bill to you (although some still send bill but plaster alll over the bill "this is not a bill, this is for informational purposes only blah blah blah") or allowing you to have online access could be construed as them attempting to collect a debt which has been discharged.

Plus I think it's their way to "punish" you sort of speak for not reaffirming. But most banks nowadays offer online bill pay, which works great