Contacting Creditor??

[cfgdag]

We just filed Chapter 7 on Monday, August 31st.

If we are wanting to keep our vehicle loans, but negotiate with the lender for lower payment, would we do that -or- our attorney?

Is it too soon to contact them right now?

How willing do you think they will be to negotiate with us if.....
1. We are not re-affirming a 28K second mortage with them
2. We are having a 9K unsecured line of credit discharged with them
3. We are having a 4K credit card discharged with them

Is it a "pipe dream" to think they will work with us on the cars?
(I would hate to call them and be laughed at)

Will they (can then) flat our deny our reaffirmation (even if we keep our current terms and amount) because of all the other discharged debt?

[cfgdag]

bump....

anyone have in info/advice?

[StartingOver08]

My attorney did not handle the negotiations, I called the BK dept directly. I had two vehicles I wanted to reaffirm.

Vehicle 1) My CU was exceptionally cooperative and I was able to reduce the monthly payment and easily reaffirm with new terms.

Vehicle 2) The bank for my other car was completely uncooperative. Because they were uncooperative I changed the statement of intentions from reaffirm to surrender. It was by far the best decision for me.

[Amy26]

If you have all those other debts with the creditor that you are discharging, the odds of them negotiating with you are very slim.

Specially if this is a credit union... even if they did negotiate the loan with you... would you really want to stay with them? I wouldn't feel comfortable staying with a bank/lender if I had discharged a bunch of debts with them... I would feel there would be no relationship there. That I'm just someone they put up with till I pay off my loan.