Q: Ch. 7 reaffirmation agreement. I am past the 60 day deadline from 341 meeting. I exempted a title loan that held my
Vehicle as collateral. I am going to end up owing more than what the car is worth. Should I contact lender to negotiate a deal where they get their $ back and I keep the vehicle. If they take car back they would lose $ and I need a vehicle. Will the court even grant me more time for the reaffirmation agreement? What’s likely hood lender will negotiate?
I’m not sure how or if you can answer if an attorney asks a question.
It was asked why I don’t walk away from car if not reaffirmed. The simple answer is I need a vehicle. It is paid off except for a title loan I took out. I do have a decision to make as the car has high mileage but also would be difficult for me to obtain financing for another vehicle at this time.
A: Why not surrender it if you have not reaffirmed and just walk away?
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