Keeping car after Ch.7 discharge

[sguerra923]

Hi guys/gals,

I'm keeping my car and I owe about 15k and its worth about 28k. My question is when I finished paying off the car in the next couple years and I own it free and clear will they be able to take the car from me? Sorry might be a easy question to answer but I want to make sure.. my lawyer left his firm and it's hard to get a straight answer from the people there... thanks

[StartingOver08]

Once the debt is paid, the lender sends you the title and its yours. They can not come back to get the car.

Did you do a ride thru in your BK? Or did you reaffirm?
Who is the lender? Some of the lenders, notably FMC, has been difficult to work with if you did not reaffirm.

[sguerra923]

Once the debt is paid, the lender sends you the title and its yours. They can not come back to get the car.

Did you do a ride thru in your BK? Or did you reaffirm?
Who is the lender? Some of the lenders, notably FMC, has been difficult to work with if you did not reaffirm.

Sorry for not understanding much of the lingo but when you say ride thru do you mean that I still pay however if I'm unable to make payments they can just take the car without any hits on my credit? If so, yes thats what im currently doing.

I didn't reaffirm.. because my lawyer at the time said if I reaffirm they trustee might be able to take the car because it has equity still.

The lender is Eloan or SST(Systems & Services Technologies)

[StartingOver08]

Yes, ride thru is short for 'no reaffirmation agreement signed, but I am paying on time'.

I have not seen any horror stories at all about the lender you have on your car. You should be fine just making the payments on time. They have to send you the title when it is paid. But I would certainly call them when the time comes to make sure they don't forget to send it. Please keep a record of your payments, just in case.