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bcohen
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Last Activity: Today, 04:52 PM
Joined: 06-12-2010
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  • Of course, you could put "reaffirm" on your Statement of Intentions, then the payment is allowed on the Means Test. Then when the time comes, you either don't reaffirm, or you make clear to your attorney that you want the reaffirmation denied, in which case the debt will be discharged. The...
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  • Can you do anything? Sure, you can either pay the bill in full, negotiate a payment plan, negotiate a reduced settlement, apply for the hospital's charitable assistance program, or ignore the debt and let it go to collections. Unfortunately, "include the debt in your bankruptcy" is not an...
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  • bcohen
    replied to One main
    Why is it "too late now"? What's to stop him from reopening the bankruptcy to file a motion to redeem the car now, if he so desires? Similarly, what would stop him from doing that when the car no longer runs, and he needs a title to legally junk it? My understanding is nothing at all. ...
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  • bcohen
    replied to Car repo
    The risk of having the car "pick[ed] up one day without your knowledge" goes down precipituously as time progresses and the Blue Book value declines. In general, a car with a private party value of less than $2000 will not be worthwhile to a lender to repossess, as the costs of towing, storage,...
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  • bcohen
    replied to Car repo
    If they walk away, that's really not a problem. The only thing you need a title for is to sell the car, and it's really only important if you're trying to sell it as a running car. You can continue to register it and drive it for as long as you want. When the time comes that the car no longer runs,...
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  • If by "truck", you mean a pickup, and it is in good condition and worth close to what you owe on it, then I'd suggest keeping it. If your "truck" is an SUV or crossover, or in poor condition/very high mileage, then I'd use the bankruptcy to get rid of it. Remember that buying a...
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  • bcohen
    replied to Truck with title loan
    I don't know what you mean by "keep that debit". I assume the word you meant to say is "debt" and the answer would be that you are required to list all creditors, and all dischargeable debt--including this title loan will be discharged. Of course, the bankruptcy discharge only...
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  • bcohen
    replied to Please some advice- car lease
    If you are definitely going to file for Chapter 7 bankruptcy, then there is absolutely no benefit to paying any more money toward this lease. The endgame is going to be the same regardless--you will either give back the car, or a towing company will come and collect it. You obviously won't be paying...
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