The official discharge is happening in a few days, but I told the court that I wanted to keep the car but didn't reaffirm with the auto financing company, and didn't surrender the vehicle. I am hoping that after the discharge I can negotiate to pay it off at less than the amount that is owed (14,000). However, what happens if I surrender the vehicle after the discharge and the auto financing company sells the car for much less than the 14,000 dollars that is owed. Am I responsible for the deficit even if the deficit is accrued after the discharge because I didn't surrender the vehicle till after the discharge?
-
-
According to my understanding, which could be wrong, if you did not reaffirm the car then what you owe on it was completely discharged in the bk. You do not owe anything on it, but you also dont own it at all anymore. They can take it or you can give it to them at any time. It's their problem. If they lose on the sale that's their problem, whether you give it back or they take it.
If you keep paying, they probably wont take it because they dont want to sell it and lose money, but some might take it as a policy of the loan company.
MMP
Comment