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LawTalk, Attorney
Category: Bankruptcy Law
Satisfied Customers: 37855
Experience:  I have more than 25 years of experience in the practice of law.
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Can terms on an auto loan be renegotiated while still in an

Customer Question

Can terms on an auto loan be renegotiated while still in an active chapter 7 bankruptcy? I want to reaffirm my load but was asking my lender to better the term. They told me its against the law to do so. I don't believe that is accurate. I'm am filing chapter 7 on my own in CT.
Submitted: 1 year ago.
Category: Bankruptcy Law
Expert:  LawTalk replied 1 year ago.

Good afternoon,

I'm Doug, and I'm sorry to hear of the confusion. My goal is to provide you with excellent service today.

While from a legal standpoint, there is no reason why terms on an existing car loan cannot be renegotiated while you are in a chapter 7 bankruptcy, I'm guessing that the lender will not be willing to agree to modify the terms. But you can certainly try. Their suggestion that it is illegal to renegotiate is just an excuse not to do so, in my opinion.

Here is a great article precisely on this issue:

You may reply back to me using the Reply link and I will be happy to continue to assist you until I am able to address your concerns, to your satisfaction.

I hope that I have been able to fully answer your question. Please be so kind as to rate my service to you. That is the only way I am credited for assisting you.

I wish you and yours the best in 2016,


Expert:  LawTalk replied 1 year ago.

Good afternoon,

Do you have any additional questions that you would like me to address for you? In case you would like a phone call to further discuss these issues you have raised, I will make that offer to you. You are certainly not obligated to accept a call offer, but many people do find it helpful for clarification purposes, as well as to allow them to ask additional questions.

If I have provided you with the information you were seeking, would you please now rate my service to you?

Thanks in advance,