Q: Ch. 7 I originally completed the statement of intention form and chose to reaffirm my auto loan. I now want to redeem.

A: File both out of an abundance of caution.

A: If you initially chose to reaffirm your auto loan in your Chapter 7 bankruptcy case and now wish to redeem the vehicle instead, it's typically necessary to file an amended Statement of Intentions to reflect this change. The Statement of Intentions communicates to the court and your creditors your plans regarding secured property, such as an auto loan.

When you file a motion to redeem, it serves as a formal request to the court to allow you to pay the current market value of the vehicle in a lump sum, rather than continuing with the reaffirmed loan terms. However, amending the Statement of Intentions provides clarity and consistency in your case documentation, ensuring that all parties are aware of your changed intentions.

It's important to file the amended Statement of Intentions promptly after deciding to pursue redemption. This helps avoid any confusion or potential legal challenges from the creditor.

Keep in mind that the process for redemption can be complex, and it’s advisable to consult with your bankruptcy attorney. They can guide you through the necessary steps and ensure that all required documents are properly filed.

Remember, each step in your bankruptcy case should be carefully managed to ensure compliance with court procedures and to protect your interests. Your attorney can provide valuable assistance in navigating these requirements.