More on 722 Redemption

[cathywhite4495]

I went ahead and filled out the paperwork for a 722 redemption loan just to see what they would offer. I am currently paying $345 at 22.5% and I have 52 months left. I was offered a payment of $308 at 24% for 42 months and they said I can refinance after 12 consecutive payments for a lower rate.
This all sounds great to me but I filed pro se. The person I talked to said that it's not a requirement to have an atty but it is recommended since I would have to file a motion with the court and possibly negotiate with the original creditor. I can't afford to even hire an attorney just for this right now.
I have 2 questions:
1. Has anybody else had experience doing this alone or know if it's possible to do on your own? I think I handled the BK paperwork OK so if it's at that level of difficulty I could do it.
2. I have a car payment due tomorrow. If I decide to do the redemption loan, do I still have to make that payment? Maybe I could use that money for an attorney?
Thanks! I think this would be a really good thing if I could make it work!

[cathywhite4495]

I just went out on a limb and called Roadloans (they hold my current car loan). THey wouldn't lower my amount due but they did drop my interest down to 16%. I did go ahead and tell them that another company was offering me a lower loan amount and they said they would object. I'm not sure if they were just saying that to try to scare me or what. I had them go ahead and send me the paperwork - nothing's written in stone and I still have time to change my mind.
I'm tempted to surrender the thing and buy a beater but I keep getting worried about having it break down. I could buy a decent vehicle for cash in the spring but would need something to get me around until then. I also figured the car loan would help rebuild my credit. Uck - I'm going nuts with the back and forth in my mind!!!

[freshstart06]

Hmm. out here, there are car dealers that offer BK loans right after your 341 meeting, I have a few appts this weekend. No down payments. Their only requirement is that you finish the 341 meeting, don't know why. My van can not pass the emission test so I decided it is time to get another one especially with 140K miles and another year of payments. I will let you know how that works.

[cathywhite4495]

Thanks - I have to do a quick vent. I'm shaking mad right now! There are a grand total of 2 bankruptcy attorneys in my area. I called them just to get an idea of what it would cost to do the redemption. The first guy doesn't have any openings until mid-September. The person who answered the phone for the 2nd guy had absolutely no clue about 722 loans. The lawyer just called me back and was extremely rude and condescending! I don't think he knew what a redemption loan was either by the way he was talking. Then he actually said that I probably don't know what I'm doing (exact words!!) and he would have to look over my paperwork. I told him (politely) that he had an attitude I didn't appreciate and he started spouting off about reaffirmation agreements and the judge's policies etc. Nothing to do with what we were talking about. I got PO'd and told him not to assume that I had just randomly filed without any previous research or knowledge and thanks but no thatnks for his proposed services. He said good luck as if I was going to fall on my face with the court. I told him I wasn't going to need any luck.
I sure hope all goes well at my meeting - especially if this dingbat is there! If all goes well with my pro se filing, I will have that much extra happiness knowing that he didn't get my money!!!!
Thanks - I'll cool down now