I filed chapter 7 in September. I brought my vehicle account current ($2500), and then I reaffirmed my 2002 Ford Taurus. My account is now current. Today I was going over my original contracts from the day I purchased the car, and I have Life and Disability insurance that was purchased through the car finance company. Why, I have no idea. They really saw me coming and sold me everything under the sun. All I can say is it was my very first vehicle purchase and I have learned from it.
Anyway, onto my question. I paid this insurance company $1200 and it was paid up front, included in the financed amount. On the insurance contract it says that I can ask for the policy to be cancelled at any time in writing, and they will send a refund to the creditor, towards the payoff balance. I figure my refund at this point would be around $700.
I am just wondering if something like this would be ok to do?? The money would not be coming to me, it would go straight from the insurance company to the vehicle finance company, and would reduce my balance by around $700, and every little bit helps.
I have already had my 341 meeting, my last day for objections is in about 2 weeks. If there is even a chance this could interfere with my case, I won't do it, or I will at least wait until after discharge, but every day I wait my refund goes down.
Any advice is greatly appreciated. Thanks so much!!
Anyway, onto my question. I paid this insurance company $1200 and it was paid up front, included in the financed amount. On the insurance contract it says that I can ask for the policy to be cancelled at any time in writing, and they will send a refund to the creditor, towards the payoff balance. I figure my refund at this point would be around $700.
I am just wondering if something like this would be ok to do?? The money would not be coming to me, it would go straight from the insurance company to the vehicle finance company, and would reduce my balance by around $700, and every little bit helps.
I have already had my 341 meeting, my last day for objections is in about 2 weeks. If there is even a chance this could interfere with my case, I won't do it, or I will at least wait until after discharge, but every day I wait my refund goes down.
Any advice is greatly appreciated. Thanks so much!!
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