What Happens..

[Carloscda]

When what you owe on the vehicle is the same as the blue book value?
($6000/$6500 respectfully)

In a Chap 7 in PA can exemptions wipe it out?
Should I Reaffirm as well?

[DebtEnder]

odds aare nothing happens. If the lien of the property is close to equal the value there is no equity. As such the Court TT couldn't care less about it.

There is no point to reaffirm unless you have a lender that likes to repo cars even when they are paid up. Ford, Chrysler, and local CU's have been known to do this.

[justbroke]

Exactly what DebtEnder wrote. Do a ride-through if it's available. Besides, you probably have a really good interest rate (compared to other lenders like 722Redemption) and can keep the car by continuing to pay. Best thing is that if you do the ride-through, you can later walk away without penalty!

You don't even need to worry about exemptions.

[Carloscda]

I have the car with Honda Finance, I only have a yr left before it's paid off.
Before I file chap 13 the monthly payment was $430
For the 13 plan was $330 no switched to $475.

Another creditor popped up (6k), so now the attorney wants to convert to 7 because I won't have ample disposable income.

Now since 7 wipes out everything I want to keep my car so how would the payments work? Can they be negotiated lower?