Offer cash for bk involved vehicle?

[debtjumper]

Would it be appropriate to make a cash offer for a vehicle tied into a bk?

I chose not to reaffirm on my auto loan due to the amount due is about 1/3 to 1/2 more than the value of the vehicle. If I told them that a family member is willing to give me the money to payoff the vehicle for a bargain price could I get in trouble? I do plan on low-balling them if I go ahead with this.

We're talking about offering like $2800 for a $5000 vehicle. Vehicle needs some serious drivetrain repairs so maybe to their eyes it is worth only that much...

[SinkingFast]

I don't know if the Court will allow a family member to purchase the car direct as a part of your BK process or not. Are you talking about steering the Lender to a family member that would be willing to offer $2800 on a car you currently owe $5K on?? If the Lender takes possession of the car, what happens after that is probably beyond the pervue of the Court. Then it should be a deal between the Lender and a prospective new buyer.

Do you not have enough exemption to cover the vehicle?? Is that the problem?? Or is it that you owe significantly more than it's worth??

You could go thru 722 Redemption up until you discharged and get a car that way since you filed Ch 7. But that's only until you're discharged. Once that happens, 722 Redemption cannot help you. I think arrangements have to be made thru your attny.

[debtjumper]

I definately owe more than its worth. I think I'll just give up on it and tell them to haul it away.