2 debts, once creditor

[laurannm]

I have a car loan which I just recently took out and another CC (which I have had for quite some time and have not used in about 5 months, and which I am current on currently but won't be after I stop paying all CCs next month)), both with Chase.

By the time I file in July, I would have made 2-3 car payments on (staying current), but I also will also be out about 2 months late at that point on the CC.

Do you think Chase will try to give me a harder time (either through objections on the CC or trying to force a reaffirm on the car, or objecting to the discharge on the car outright)?

Thanks

[woeisme]

It's hard to say, but I don't think once you are under the legal protection of the BK stay that they can do anything more to you that any other creditor can do, other than ask you to reaffirm your car loan. I suppose they could play hardball and assert their right to repossess the car if you don't sign the reaffirmation paperwork, but they always had that right, and owing them on a different account probably won't make them change their policies on how they deal with car reaffirmations. Since the car is a recent purchase, I would guess whether they threaten to repossess depends on whether or not you put a big down payment on it or not, and have enough equity in it to make it worth their while, not on whether or not you BK a CC debt with them. And they'd still rather get their money for the car loan than hassle with a repo, which is why most don't force the reaffirmation and allow you to do a ride-through anyway.

[laurannm]

That makes sense. We did not put down a large down payment ($500), so we basically we have very little if any equity in the car.