My ex and I filed a Chapter 13 in 2005 before the new laws took effect. In the last year alone, we both lost our jobs and we were divorced. We decided to convert our Chapter 13 to a Chapter 7 and our 341 meeting was on 1/13/2010. I have been trying to get answers from my attorney and have also been doing searches, but can't seem to find a clear answer on a couple of things so your help would be greatly appreciated.
First, I would like to keep my car if at all possible. I am currently only getting unemployment so I would not qualify for any kind of loan. I called Capital One about reaffirming and was told I owed $19,000 because of all the interest that accured while the car was in Chapter 13. Of course, that is crazy to think I'd pay that but the lady I spoke with did mention about doing a redemption for the fair market value. My attorney told me it could be done and to contact his secretary. I have but that's as far as it has gotten. She doesn't seem to know anything about it and he is really hard to reach. So, my question is this. After going to nada.com and kbb.com, it seems that the fair market value on my car is $3,100. My dad is willing to pay this for me in order to keep the car. So, is this something my attorney needs to draw up and offer Capital One and do attorney's usually charge extra for this? Also, I'm afraid someone is going to show up and take the car before anything can be done. How long do I have before the car is repossed?
And next. My mortgage is with Wells Fargo. I definitely want to keep this house but am currently 7 or 8 payments behind. I can pay the current house note with my unemployment but it would only leave me about $300 extra per month. I would like to try and get the mortgage modified if possible. Should I go ahead and send in the papers for a modification now or wait until it is discharged? My ex was not on the mortgage because I bought it before we were married and he did do a quick claim deed to give me the house. I live in Tennessee if that matters.
Thanks in advance for your help and thanks for these boards to help clueless folks like me!!
First, I would like to keep my car if at all possible. I am currently only getting unemployment so I would not qualify for any kind of loan. I called Capital One about reaffirming and was told I owed $19,000 because of all the interest that accured while the car was in Chapter 13. Of course, that is crazy to think I'd pay that but the lady I spoke with did mention about doing a redemption for the fair market value. My attorney told me it could be done and to contact his secretary. I have but that's as far as it has gotten. She doesn't seem to know anything about it and he is really hard to reach. So, my question is this. After going to nada.com and kbb.com, it seems that the fair market value on my car is $3,100. My dad is willing to pay this for me in order to keep the car. So, is this something my attorney needs to draw up and offer Capital One and do attorney's usually charge extra for this? Also, I'm afraid someone is going to show up and take the car before anything can be done. How long do I have before the car is repossed?
And next. My mortgage is with Wells Fargo. I definitely want to keep this house but am currently 7 or 8 payments behind. I can pay the current house note with my unemployment but it would only leave me about $300 extra per month. I would like to try and get the mortgage modified if possible. Should I go ahead and send in the papers for a modification now or wait until it is discharged? My ex was not on the mortgage because I bought it before we were married and he did do a quick claim deed to give me the house. I live in Tennessee if that matters.
Thanks in advance for your help and thanks for these boards to help clueless folks like me!!
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