I received a letter in the mail from an attorney. My lender wants to start the foreclosure proceedings. At the moment, I am 11 months behind on my mortgage. I want to dump the house as I owe 20% more than it is worth. What happens if I file for bankruptcy right away? Does that cover the foreclosure too?? Or would the bank come after me after it sells my condo for the difference? I have a 10,000 in credit card debt and 9000 auto loan. I have been unemployed for quite sometime without having luck finding a job. Even my unemployment has ran out at the moment. I don’t have any assets unless furniture counts? Bankruptcy is a must for me but I cant decide if I should do it before or after the foreclosure

I live in Illinois

Technorati Tags: assets, auto loan, bankruptcy, credit card debt, finding a job, foreclosure proceedings, furniture, letter in the mail, mortgage, unemployment

I need a new vehicle, I had a vehicle repo’d two years ago and filed bankruptcy one year ago. The bankruptcy I know will be an issue as far as an auto loan goes, but will the repo also cause a potential issue too? Will they even find out about the repo?

Technorati Tags: auto loan, bankruptcy

I purchased a vehicle about 3 years ago. After the economic disaster 2 years ago, I was devistated and unable to pay my debts. I am currently almost 2 years behind on my car payments, and all other debts such as credit cards etc. The only reason my car has not been repossed yet is because I soon moved to an undisclosed location so that I can return to college. At this point, I still have not been able to find a stable income to pay my debts. I’m certain that by now, my credit is already ruined. The fact of the matter is I need my car and turning it over is not an option; however, I can not go on forever without doing anything.

My question is… How can I keep my car in my current situation by filing bankruptcy? Could the debt be totally wiped clean, or would there be some alternative payment plan set up?
After checking, The auto loan was actually charged off by the bank one year ago. Before making any contacts, I need to know if it is possible to still keep the car.

Technorati Tags: 3 years, auto loan, bank one, car payments, credit cards, current situation, debts, economic disaster, fact of the matter, filing bankruptcy, stable income, undisclosed location

I’m 20 years old and about to go through a divorce. I have a CC in only my name that my husband has run up to ,000 in debt. I also have ,000 in student loans. I am co-signed on his ,000 + car loan and I am the primary on my ,000 auto loan. If I file how will it affect our cars. I can afford to pay my monthly payment although it is steep. BTW it wasn’t my idea to get expensive cars! Also my wedding ring went missing a couple monthes ago when I took it off to do dishes. Can he legally get me to pay him back for the ring?
My car is only worth 000. The other 000 on top of it is negative equity from previous vehicles my husband kept on trading in for "better" cars. I can afford to pay for my car. I am co-signed on my husbands car b/c if I didn’t I would have been the only name on his other car. He has bad credit too. I had great credit BTW before I met him. He’s been through so many cars I’ve lost count.

Technorati Tags: auto loan, bad credit, btw, car loan, dishes, divorce, expensive cars, many cars, negative equity, student loans, wedding ring

Except for my mortgage and auto loan since they are not going to be included.

Technorati Tags: auto loan, mortgage

I have improved credit after filing bankruptcy about 5 years ago . I was able to secure auto loan and capital one card , but I find I am desperate for small loan of about 1,500 and most payday loan places offer a max of 800.00 in our area. I am also very scared of all the online fast loans due to scamming for information .Any ideas?

Technorati Tags: auto loan, capital one, capital one card, filing bankruptcy, loans, payday loan

I refinanced an auto loan in 12/04. I recently filed bankruptcy (cht. 7) and the lender sent me a notice to send them the balance which is 4600 within the next 10 days. I want to keep the car but cannot afford to pay it off and need the lowest payment possible to reaffirm the loan. Is there any room for negotiations or is the ball in their court. Payments are 281 per month and i havent paid since august 07. Please help me ASAP in NJ. I did bankruptcy myself

Technorati Tags: auto loan, bankruptcy, negotiations

O.k. I filed bankrupcty 2 months ago and I checked my credit online. All my credit cards say "BANKRUPTCY CHAPTER 7, XPN: Account closed at grantors request" But my auto loan says its still open and has 2 charge offs maybe its from the loan and then when they repoed my car. At the bottom of it, it says "Comments: XPN: Amt Past Due Value is Charge Off Amt" Does this mean im done with them or are they going to try and make me pay it. Also they wrote Was "Derogatory". under payment history. Help me out please.

Technorati Tags: auto loan, bankruptcy chapter 7, charge offs, credit cards, payment history, xpn

We are the co-signer on an auto loan for a relative. We are having to file a Chapter 7 bankruptcy. I need to know how exactly that will affect the main borrower. We are planning on "reaffirming" the loan, so that the person will not lose the car.

Will this mean that we will be removed from the loan and the main borrower will be responsible for all payments and keep the vehicle? Or will it mean that we will still be on the loan after the bankruptcy? Or what are the other possibilities?

Technorati Tags: auto loan, chapter 7 bankruptcy, co signer, possibilities, quot

What are the rules about filing bankruptcy with co-signers or being the secondary cardholder on a credit card account? Also, would it be better to file an auto loan under bankruptcy or to have it voluntary reposessed?

Technorati Tags: auto loan, cardholder, credit card account, filing bankruptcy

i plan to file for bankruptcy because i’ll be starting nursing school next yr,and can’t keep up with my auto loan and credit cards payments.my question is can i still receive federal student aid even after filling for bankruptcy.thanks

Technorati Tags: auto loan, credit cards payments, federal student aid, filling for bankruptcy, nursing school

I know the laws have changed in the past year or so. What are the pros and cons? If we currently have an auto loan, would we have to surrender the vehicle?

Technorati Tags: auto loan, pros and cons

I am way over my head in a auto loan and see bankruptcy as the only way out.
Now the problem is, I am also on the lease of my girlfriend’s car.
I need to know what will happen with it.

Technorati Tags: auto loan, bankruptcy, girlfriend, way over my head

I filled bankruptcy last week with plans to reaffirm the auto loan and keep the car. Mostly because my dad is the co-signer.

Today I tried to make a payment only to find the loan has been sold to some other company, and now I fear they will change the interest rates and add fees. Is this what will happen? What would happen to the co-signer if I decide to return the car and discharge the loan?

Technorati Tags: auto loan, bankruptcy, co signer, dad, interest rates

What are the rules about filing bankruptcy with co-signers or being the secondary cardholder on a credit card account? Also, would it be better to file an auto loan under bankruptcy or to have it voluntary reposessed?

Technorati Tags: auto loan, cardholder, credit card account, filing bankruptcy