What to do about a modifiedauto loan after a Chapter 7 discharge?
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What to do about a modifiedauto loan after a Chapter 7 discharge?
I filed a Chapter 7 and did not reaffirm my auto loan; the loan was discharged. However, I continued to pay and signed a loan modification with the lender to reduce the monthly payment. It of course, extended the length of the loan to 7 years. I have now reconsidered and don’t want the vehicle and want to know if I am liable for this loan if I let the bank have the vehicle back?
Asked on October 30, 2011 under Bankruptcy Law, Florida
Answers:
Mark J. Markus / Mark J. Markus, Law Offices of
Answered 13 years ago | Contributor
If you did not reaffirm your vehicle loan, you have no further liability after discharge. You can turn in your vehicle without any further obligation.
Mark J. Markus, Attorney at Law
Handling exclusively bankruptcy law cases in California since 1991.
http://www.bklaw.com/
bankruptcy blog: http://bklaw.com/bankruptcy-blog/
Follow Me on Twitter: @bklawr
Mark J. Markus / Mark J. Markus, Law Offices of
Answered 13 years ago | Contributor
If you did not reaffirm your vehicle loan, you have no further liability after discharge. You can turn in your vehicle without any further obligation.
Mark J. Markus, Attorney at Law
Handling exclusively bankruptcy law cases in California since 1991.
http://www.bklaw.com/
bankruptcy blog: http://bklaw.com/bankruptcy-blog/
Follow Me on Twitter: @bklawr
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