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The Reaffirmation agreements are rolling in....

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    #16
    Originally posted by justbroke View Post
    It's true in Florida, but only a couple of lender are known to repossess or force the issue (Ford and most credit unions). The truth is that the bankruptcy code only lists 3 options which you named above. However, state non-bankruptcy law comes into play and in many States, they can't repossess if you're current and you've only had a breach simply because you filed bankruptcy.

    So, you must look to your State and bankruptcy District as to how they behave. I don't know for Colorado.
    Kinda what I thought through all the reading here. I wasn't sure if this was a scare tactic on the creditor's part, or if indeed they can come and get it even if we were current.

    We continue making payments on our vehicles during the 7, and they have to apply them, is that correct?

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      #17
      Hopefully, you're following the the advice of your attorney on these matters. He would understand the laws of Colorado better than most here.
      Well, I did. Every one of 'em. Mostly I remember the last one. The wild finish. A guy standing on a station platform in the rain with a comical look in his face because his insides have been kicked out. -Rick

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        #18
        Yes, your local attorney will know better how this works in your State and District. It is important because some Districts and States do allow repossession.

        If you really want to keep your car, the thing is to really redeem or reaffirm. I prefer redemption if you owe a lot more than it's worth.
        Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
        Status: (Auto) Discharged and Closed! 5/10
        Visit My BKForum Blog: justbroke's Blog

        Any advice provided is not legal advice, but simply the musings of a fellow bankrupt.

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