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giving up only vehicle

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    #16
    Originally posted by texanboy76 View Post
    Okay I'm lost here. If you get another auto to try and reduce your payment and want to surrender the vehicle you are upside down on and late in payments then how is the new vehicle included in the BK?
    Because you have to list all debt when you file. Since this would be debt, albeit new, you need to list it. Of course, you may decide to re-affirm the debt for the new vehicle.
    Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
    Status: (Auto) Discharged and Closed! 5/10
    Visit My BKForum Blog: justbroke's Blog

    Any advice provided is not legal advice, but simply the musings of a fellow bankrupt.

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      #17
      Originally posted by justbroke View Post
      Because you have to list all debt when you file. Since this would be debt, albeit new, you need to list it. Of course, you may decide to re-affirm the debt for the new vehicle.
      gotcha! I thought it meant since you listed it they take it from you unless you re-affirm....

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        #18
        Originally posted by texanboy76 View Post
        gotcha! I thought it meant since you listed it they take it from you unless you re-affirm....
        whats the diff in re-affirming and 722?

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