Reaffirm Car help (so cal)

[asilva1818]

I am going through my ch7 and I haven't had my meeting of the creditors yet and would like some guidance because amazingly after paying the attorneys fee's they are no longer of any help.

I have an 09 silverado which I owe approx. $37,000 on and is worth about 25,000. I originally included this vehicle in my ch7. I am considering keeping the vehicle because I have already spoken with my credit union and they said they would accept an offer based on the NADA bluebook value and a payment which I could afford. This all sounds great and I'm sure the bank tells everyone that so they can still keep getting every penny out of you.

Meantime, I received a mysterious letter from them also stating congratulations and thank you for using their bank for my loan needs and that my title should be released through my department of motor vehicles and be in the mail shortly.. has anyone had this happen? what I'm wondering on is if I should stay current on my payment? should I wait and go late on the payments and see if the title does come in the mail? but on the other hand If they don't reaffirm and offer a good payment I would rather let it go and stop throwing my money away. If I don't receive the title and I stop paying until the reaffirmation is finalized are they more likely to say never mind because I'm not current on my payments? thanks!

[liz417]

Something doesn't add up....maybe they sent that letter to you in error?!? Why would they turn over the title if you still owe $$ on the car? I would stay current and keep an eye out for that title, if nothing comes (I doubt it will), I would call talk to them again about lowering the loan amount. Good Luck!

P.S. just re-read your post, are you currently in a ch 7? There is an automatic stay in place, they shouldn't be talking to you about anything!

[albacore44]

Agree.......something does not add up

[asilva1818]

yes I am currently in ch 7. and I think the only reason they talked to me was because I called them, because they suspended my checking account so I called to see what was going on and the guy said now that I have you on the line our bankruptcy department would like to speak with you to find out your intentions for your vehicle if you would like I can give you the number. So I called them and then they told me to have my attorney send over an offer based on NADA bluebook value and a payment I could afford. Which if they're willing to deal I'll go for the deal, if not I'll just let it go, it's 15,000 in negative equity and it's a gas hog so really works out either way.

[Jengo]

I am going through my ch7 and I haven't had my meeting of the creditors yet and would like some guidance because amazingly after paying the attorneys fee's they are no longer of any help.

I have an 09 silverado which I owe approx. $37,000 on and is worth about 25,000. I originally included this vehicle in my ch7. I am considering keeping the vehicle because I have already spoken with my credit union and they said they would accept an offer based on the NADA bluebook value and a payment which I could afford. This all sounds great and I'm sure the bank tells everyone that so they can still keep getting every penny out of you.

Meantime, I received a mysterious letter from them also stating congratulations and thank you for using their bank for my loan needs and that my title should be released through my department of motor vehicles and be in the mail shortly.. has anyone had this happen? what I'm wondering on is if I should stay current on my payment? should I wait and go late on the payments and see if the title does come in the mail? but on the other hand If they don't reaffirm and offer a good payment I would rather let it go and stop throwing my money away. If I don't receive the title and I stop paying until the reaffirmation is finalized are they more likely to say never mind because I'm not current on my payments? thanks!

Stay persistent with your attorney and continue to call and send emails. If they don't respond, since you retained them and they are required by law to keep you informed and what happens with your case in a timely manner and guiding your case, you can send an email and/or phone call stating that you have been trying to get ahold of them and they are not cooperating and keeping you informed after retaining their services. Tell them if they don't respond soon, you will file a complaint with the Calif State Bar where you live. I'm pretty sure they will respond rather quickly.