Post Chapter 7 discharge

[trophy]

I am meeting with another lawyer friday to go over my bankruptcy from last year. From our phone conversation he also agreed with everyone here. Time does not matter if it wasn't reaffirmed. He is going to get all the documents and go through them.
There is a good chance I can sell it for the loan value in the spring and pay off the lien on it. If that is an option I would rather do that than give it back and worry about it hitting my credit. I finally got it back up to 684 this week. I would hate to see it drop 30 points over this.
Thank you for everyones help, I will keep everyone posted after I meet the attorney.

[trophy]

if you listed the boat and did not reaffirm with the lender and stop paying let them just come and get it. while your at it get another lawyer who doesn't work for the lender, or knows what they are doing.

again, if you listed the boat, and kept up payments for a while, but never re-affirmed the loan you owe them nothing. we surrendered a car and just worked it out with the lender and to this day our CC says surrendered not repossessed. just call them tell them you don't want it and come and get it.

do NOT sell it, there could be legal ramifications some how if you did unless you sold it for what you owe and pay off the lender. best of luck.

It is funny you said that. I am from a small town and the boat is financed through a local bank, along with my lawyer. From the start he was concerned as to if I was going to reaffirm the loan. He had the reaffirmation agreement at his office 2 days after I filed BK and I refused to sign it,,,, twice.

[LadyInTheRed]

There is a good chance I can sell it for the loan value in the spring and pay off the lien on it. If that is an option I would rather do that than give it back and worry about it hitting my credit. I finally got it back up to 684 this week. I would hate to see it drop 30 points over this.
Thank you for everyones help, I will keep everyone posted after I meet the attorney.

The creditor is not allowed to report a delinquency or repossession when the debt was discharged in BK. It should not show up on your credit report. If the car is worth more than you owe, it make sense to sell it instead of defaulting. But, if you won't come away with any cash, why bother?

[LadyInTheRed]

It is funny you said that. I am from a small town and the boat is financed through a local bank, along with my lawyer. From the start he was concerned as to if I was going to reaffirm the loan. He had the reaffirmation agreement at his office 2 days after I filed BK and I refused to sign it,,,, twice.

Do you mean your lawyer was a lender along with the bank?