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Ellen
Ellen, Attorney
Category: Bankruptcy Law
Satisfied Customers: 36714
Experience:  Bankruptcy Lawyer. Experienced.
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I FILED BK 3 YEARS AGO ELECTED TO KEEP A AUTO. NOW I HAVE BEEN

Resolved Question:

I FILED BK 3 YEARS AGO ELECTED TO KEEP A AUTO. NOW I HAVE BEEN CUT 2 DAYS A WEEK ON JOB AND CANT KEEP UP.WHAT IS MY OPTIONS
Submitted: 7 years ago.
Category: Bankruptcy Law
Expert:  Ellen replied 7 years ago.
Did you reaffirm the car or retain the car. Was it a chapter 7?
Customer: replied 7 years ago.

CHAPTER 7 I DONT KNOW THE DIFFERENCE REAFIRM ORRETAIN

 

Expert:  Ellen replied 7 years ago.
Hello,


Did you sign a new agreement to pay the loan or did you just continue to pay after the 7.
Customer: replied 7 years ago.
JUST CONTINUED TO PAY
Expert:  Ellen replied 7 years ago.
Hello,


If you simply continued to pay, it appears that you "retained" the auto. This means that your personal liability under the 7 would have been discharged. If you stop paying on the vehicle in this situation, the creditor can repossess the vehicle but not collect from you personally.
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