I could not get my car loan discharged.

[MM2]

Hello,

I filed for chapter 7 in 2005 and it was discharge in 2006. I did it myself with the help of mainly a Nolo guide. I live in Ohio and I had to use the states laws. My car loan was discharged but inorder to keep the car I had to retain the loan. I did not reaffirm it.

I want to know if there is a way to get the bank to lower the payments. They are 200.00 dollars a month. Yet with the rise in the cost of living it is getting difficult to keep up with them. I am not sure if the bank will work with me on this. I really need the car but I really need those payments decreased. I thought of sending in a partial payment but I don't know what they will do. I know since I didn't reaffirm the loan I am not liable for the loan but I know they can take the car if I don't keep but the payments.

Does anyone have knowledge of car loans?

[SinkingFast]

If you did not reaffirm the loan when you filed BK, the terms of the original agreement still stand. Same payment. Same term. Same interest rate.

And you are correct. If you do not stay current, the Lender can repo the car.

You might try calling your Lender to renegotiate your loan with them. Or, try and get alternate financing elsewhere for the remainder of the principal balance. Depending on the age and mileage on the car, you may be able to get a longer term than you currently have left possibly making your payments lower.

Either way, if you're struggling, you need to contact your Lender in advance of being late on any payments. Maybe they will work with you since you have continued to remain current for so long post BK.