new...scared...confused...

[bonnieb]

Hi! I've spent a lot of time reading your stories hoping that knowledge really is power and I won't be so completely freaked out until it's all over.

my husband and I filed ch7 on 3/36/06 and our 341 hearing is on 5/3/06. We have two vehicles....one that we are redeeming (I think...that's where we basically refinance for the actual value of the car, right?) and the other we're hoping to reaffirm. A couple of weeks ago we received a notice from one of the lenders (chrysler) of a motion for relief from automatic stay and today we received the order granting their motion. We were behind on payments when we filed and now I'm wondering if this means they can come and repossess the vehicle tonight...So. What the heck is going on and what should I be doing? I'm going to call my attorney in the morning but right now I'm a little (a lot) anxious.

Gah!! All help, advice, words of encouragement, and 'there, there's' gratefully accepted.

Thanks.

bonnieb

[Minnymouth]

First,
You have to be current on auto payments to be able to reaffirm UNLESS the auto dealer is willing to put your past due payments at the end of the payments. Your attorney should have explained this too you.......

If you think reaffirming is the same as redemption 722 IT IS NOT........

Talk to your attorney, ask him questions. Have him explain the reaffirm program and the Redemption 722 plan to you......

Do this as quickly as possible......

Minny

[bonnieb]

We have two vehicles...one we're redeeming and we're trying to reaffirm the other. My husband talked to the creditor on Friday and their bk dept. told him that we would be able to tack the missing payments onto the back end of the loan. So, I guess crisis has been averted...until wednesday and the 341 hearing. Yikes!!