Q: Can I voluntarily surrender cars and timeshares after chapter 7 if I have not completed a reaffirmation agreement
A: generally yes. you my want to speak to your chapter 7 lawyer as well.
A: If by "after chapter 7", you mean after you've initially filed your bankruptcy case but prior to the entry of Discharge, the Bankruptcy Code allows you three options for dealing with secured claims (debts for which collateral such as a car or a mortgage has been given):
-surrender of the collateral in satisfaction of the secured claim;
-redemption (payment of the secured portion of a claim, which usually is the fair market value of the collateral at the time the bankruptcy case is filed); or
-reaffirmation of the debt.
Often, a creditor holding a secured claim against your property will press the issue in the bankruptcy court, because you must indicate in your bankruptcy schedules which of the foregoing options you choose with each piece of collateral in your estate, and then you are given a limited amount of time to perform the option you choose.
Even if you retain the collateral during your bankruptcy case, your Discharge will relieve you of any obligation to pay a "deficiency" remaining after the collateral may be repossessed/foreclosed and sold at public or private sale.
A: The simple answer is "yes". Without a reaffirmation, the underlying debt is discharged along with the other debts and all the car creditor would be entitled to is possession of the vehicle. There are caveats to this though, such as intentional damage to the vehicle, etc., but those are unusual circumstances.
Talk to the attorney that represented you in the case.
A: Most likely - Yes... but there are instances when yes won't apply. Check with your BK attorney to be sure. If you didn't have a BK attorney you should get a consultation with one and bring all your documents.
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