Statement of intentions

[ROB37LAW]

Ok folks, a little help would certainly be appreciated. I filed chapter 7 on 01/08/10. I had my 341 meeting on 02/10/10. My statement of intentions pertaining to my car indicates "Retain and pay pursuant to contract", not reaffirm. The "Deadline to File a Complaint Objecting to Discharge of the Debtor or to Determine Dischargeability of Certain Debts" is 4/12/10. Here is my question, my car loan is current and my car payment is due on the 14th of every month. I will pay the March payment to keep it current but do you think I have to pay the April payment since it is due two days past the deadline for the objections date? As soon as I get my discharge, my plan is to simply walk away from this car loan and buy a much cheaper vehicle. Since I'm doing this after my discharge, I believe I'm not required to amend my statement of intentions to "surrender." I don't want to do that because then I will have disposable income on my schedule J. Any thoughts?

[whipster1]

Sure, sounds like a plan to me. They will most likely pick the car up pretty fast after the discharge date if you are not current...so get "plan b" ready to go.

[justbroke]

Whether you can Retain And Pay is very District specific these days. I hope that it is allowed in your District. I would think that a creditor would have already complained (especially Ford Motor Credit, GM Acceptance and/or Honda Credit) but most of this is based on underlying State non-bankruptcy law.

In Florida, for example, you must redeem, reaffirm or surrender. There is no Retain and Pay in our District!

[ROB37LAW]

Whether you can Retain And Pay is very District specific these days. I hope that it is allowed in your District. I would think that a creditor would have already complained (especially Ford Motor Credit, GM Acceptance and/or Honda Credit) but most of this is based on underlying State non-bankruptcy law.

In Florida, for example, you must redeem, reaffirm or surrender. There is no Retain and Pay in our District!

I live in Colorado and the vehicle is financed through Nissan Motors. So far they seem to be fine with the ride through.

[justbroke]

I live in Colorado and the vehicle is financed through Nissan Motors. So far they seem to be fine with the ride through.

Excellent! It is mostly on the Creditor to enforce it (the redeem, reaffirm or surrender), so if Nissan is okay... seems perfect.

When you receive your discharge, the debt should show as discharged and you'll be able to stop making payments. I don't think you need to pay April.

[ROB37LAW]

Excellent! It is mostly on the Creditor to enforce it (the redeem, reaffirm or surrender), so if Nissan is okay... seems perfect.

When you receive your discharge, the debt should show as discharged and you'll be able to stop making payments. I don't think you need to pay April.

It showed as discharged shortly after I filed. Even though my payment isn't technically due until 2 days after the deadline for objections, I wasn't sure if not honoring the statement of intentions could possibly negate the discharge in any way. I'm sure I will not receive the discharge two days after the deadline for objections. I still need to run it by my attorney.

[justbroke]

I haven't read one case, and I've read hundreds, where a change in mind on your intentions would change the Discharge. As a matter of fact, you're allowed to change your mind up to 60 days from the filing or approval of a reaffirmation, post discharge!

While the UST could ask for the discharge to be vacated, I haven't even read of too many of those cases either. I would not worry about this.

[ROB37LAW]

I haven't read one case, and I've read hundreds, where a change in mind on your intentions would change the Discharge. As a matter of fact, you're allowed to change your mind up to 60 days from the filing or approval of a reaffirmation, post discharge!

While the UST could ask for the discharge to be vacated, I haven't even read of too many of those cases either. I would not worry about this.

Thank you. I appreciate the input.