chapter 7 and vehicle

[sckrentz]

We filed in Oct of '05 and have gotten our discharge,but are waiting for the final decree, I guess from the trustee. Since then we have not kept up on our vehicle loan and they are wanting to repossess, waiting for the court to grant permission, I guess. Should we just go ahead and take the van to them, since we really can't afford to pay? And will we be responsible for anything on it? I guess I really don't understand the bk stuff like I thought I did! The van was listed as personal property and as property claimed exempt.
I am nervous and not sure what we should do. I'd appreciate any advice.

Thanks!
Christy

[SinkingFast]

You need to check your BK paperwork and see if the auto loan on the van was discharged in the BK. Did you sign a reaffirmation agreement on the loan??

Your attny probably filed an exemption against your equity in the vehicle so the Court wouldn't take it and sell it. But the exemption has nothing to do with whether or not the loan was potentially discharged.

If the loan was discharged you won't owe a deficit balance. You can just give the van back and be done with it. Call the Lender and make arrangements for the return. Don't just let them repo it. Generally, the Lender will have you turn it in at a Dealership or possibly one of their offices. Be sure to get a signed receipt from who ever you turn the van over to. Always CYA with a paper trail.

[sckrentz]

i am not sure if the loan was discharged or not. We did not sign a reaffirmation agreement.

[SinkingFast]

Maybe call your attny's office and ask them to check your paperwork??!! You'd think they'd keep that stuff on file for some period of time.

[sckrentz]

thanks, I will.