credit card and car loan from same company

[4ever]

Both are listed on a Chase account. We haven't missed any payments on either one but since we will be filing BK on all the credit cards including the Chase one, what do you think Chase will say about our car? We still want to make the payments on it and we are. If they want it they can have it but still. You think they might up the interest on it out of spite when they find out we are filing on their credit card?

[mijd]

I'm not a lawyer and this is not legal advice, but from personal experience, the car is considered an installment loan so the payments and interest rate will stay the same. It is also a secured loan rather than unsecured like your credit card is. If you stop payments on the car they can reposess it.

[ccsjoe]

Each loan should be treated differently, one is unsecured, the other is a secured installment. One should technically not affect the other. I think you should be ok with the car side of the equation as long as you stay up to date. They may want to try to get you to reaffirm the car loan though.

[4ever]

Thanks. We would like to keep the car. Just thought they might bare a grudge. Either way, credit card or car, they are still getting some of our money. That should make them happy.

[goodyphilips]

Well i don't businesses are emotional enough to nurture a grudge, infact if you go ahead and talk to them and give them your reasons they would appreciate it.

[62hotrod]

credit unions will not reaffirm on 1 and let you file bk on the other.

i dont know about chase. if you use a lawyer they will know.