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Car not reaffirmed and BK7

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    #1

    Car not reaffirmed and BK7

    Just want to make sure.

    I can stop paying and tell them to come get it with no repercussions. Correct?

    Already got approved for a new car loan and going to buy a MiniVan.

    Current car is about $1000 underwater for a Trade In.

    Don't know if I want to deal with selling it Private Party.

    Thanks
    Tags: None
    #2
    Originally posted by AZwldcats View Post
    Just want to make sure.

    I can stop paying and tell them to come get it with no repercussions. Correct?
    Correct.
    Filed CH7 9/24/2010, 341 on 10/28/2010, Disch.&Closed: 1/6/2011. FICO EX: 9/2: 672.
    FICO EQ: pre-filing: 573, After BK Public Record: 568, 10/3: 673.
    FICO TU: pre-filing: 589, After BK Public Record: 563, 9/2: 706.

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      #3
      Yes. The debt obligation is discharged in the bankruptcy and you can give the car back.
      Filed Joint, No Asset, > $100,000 Unsecured Ch.7 6/7/13 ~~ 341 Meeting 7/15/13 ~~ Discharged 9/16/13 !!

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        #4
        Are you in a BK7 or have you been discharged? If not discharged you must get the Court's approval to go further into debt for a new car. Check with your lawyer before signing papers. You cannot give the new car back that's for sure. 'Hub
        If I knew it all, would I be here?? Hang in there = Retained attorney 8-06, Filed 12-28-07, Discharge 8-13-08, Finally CLOSED 11-3-09, 3-31-10 AP Dismissed, Informed by incompetent lawyer of CLOSED status, October 14, 2010.

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