Two questions

[nadine874]

1. when i am listing my creditors for my chp7, do I list the original creditor (Visa or Macy's) or do I list the collection agency that took over the case?

2. I am going to file ch7 and only want to reaffirm the 2 cars that my husband and I use for work. My car payment is ~400 dollars a month for a 1999 car, do you think it is possible to reaffirm for a lower monthly rate(refinance?) or could I turn in the car and try to get a cheaper, smaller car while in the bk?

thanks for any information

[HRx]

1. when i am listing my creditors for my chp7, do I list the original creditor (Visa or Macy's) or do I list the collection agency that took over the case?

2. I am going to file ch7 and only want to reaffirm the 2 cars that my husband and I use for work. My car payment is ~400 dollars a month for a 1999 car, do you think it is possible to reaffirm for a lower monthly rate(refinance?) or could I turn in the car and try to get a cheaper, smaller car while in the bk?

thanks for any information

List both the creditor and the collection agency. Getting a cheaper payment depends on how much the car is worth and how much you owe on it. The lien holders reaffirmation guidelines will also determine the amount too. If you credit is worthy enough for a refiance, that is another option. You could also consider doing a redemption on the vehicles too.

Good Luck!