I didn't stay current on my 1st car during my Chapter 7 bankruptcy (which is part of the terms of keeping it). Now they want the car back- which is ok because I knew that would happen so I went and bought another used car. But what happens now am I responsible to meet the 1st car loan (like you would a repo) or do I get to be free of that 1st car loan debt even though the bankruptcy discharged 2 days ago. The car salesmen said I would not be responsible at all, but now I am stressing out that they just wanted to sell me a car- worst thing is my lawyers office isn't calling me back.
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Did you reaffirm the loan?Disclaimer: Young, NOT Dumb.(._.) The plan: $480 monthly for 60 months at 100%. 07/12/08
Motion to Discharge: FILED!! 08/07/13
60 down/0 to go \m/(*.*)\m/ 100% complete! -
If you did not reaffirm the loan, then the lender allowed you to do what is called a Ride Through. In any case, without a reaffirmation agreement, you are free and clear of the debt.Bankruptcy History:
Chapter 7 filed - 10/12/2005 - Asset
Discharged - 02/16/2006
Case Closed - 11/08/2007
A banker is a fellow who lends you his umbrella when the sun is shining and wants it back the minute it begins to rain ~ Mark Twain
All suggestions are based on personal experience and research and SHOULD NOT be construed as legal advice as I am NOT an attorney. Always consult with competent counsel in your area with regards to your particular situation.Comment
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