Should I amend my statement of intentions

[ROB37LAW]

Today is day 60 "objections to discharge due". My original statement of intentions indicated "retain and pay" pursuant to contract, not reaffirm. My car loan is due on 04/14 and is current. I plan on letting Nissan come take the vehicle back in the next month to a month and a half tops. I'm buying a much cheaper vehicle. I haven't received my discharge yet. Should I amend my statement of intentions at this point to "surrender" or just cease payment and let Nissan eventually repo it. Thanks for your advice. Justbroke, I'm interested in what you have to say. Thanks.

[justbroke]

Do not amend your Statement. So long as you didn't reaffirm, you are in the best position after discharge. Afte4r discharge, just stop paying and allow Nissan to repossess. it would probably take 30-60 days after your payment goes late, so I'm thinking May 15th-June 15th will be the time period in which they decide to repossess.

[ROB37LAW]

Do not amend your Statement. So long as you didn't reaffirm, you are in the best position after discharge. Afte4r discharge, just stop paying and allow Nissan to repossess. it would probably take 30-60 days after your payment goes late, so I'm thinking May 15th-June 15th will be the time period in which they decide to repossess.

Even though the 60 days has elapsed, I haven't received my discharge yet. My auto loan is due in two days. It will technically be late for the first time just prior to receiving my discharge. It will be late as of 04/15/10. Even though it's too late for Nissan to file an objection because 04/12/10 is the date that the objections are due, could they file a notice of deficiency? I'm thinking the same as you and just not pay and eventually they'll repo it. I don't want to have to pay my attorney to file an amendment for nothing. Thanks for your help.

[spetkovich]

Filing an amendment would be futile at this point. It would also be futile for Nissan to file any notice of deficiency. It does not matter if you are in default on the car loan because, since you did not reaffirm or redeem, the car will be surrendered (or repo'ed) and the debt is discharged.

[justbroke]

It's too late for everything, as spetkovich wrote. There's nothing for Nissan to really complain about. It was their responsibility to force you to redeem, reaffirm or surrender... not "retain and pay".

[scla]

Generally under these circumstances your liability has been removed with regard to any deficiency on the vehicle. Since you did not reaffirm the debt in the bankruptcy you should not be held liable for the deficiency on the vehicle, even though you indicated that you would retain the vehicle and continue to make payments on the vehicle.

[ROB37LAW]

Generally under these circumstances your liability has been removed with regard to any deficiency on the vehicle. Since you did not reaffirm the debt in the bankruptcy you should not be held liable for the deficiency on the vehicle, even though you indicated that you would retain the vehicle and continue to make payments on the vehicle.

Thanks for the replies everybody. Much appreciated.