Home     Law Advice     Insurance Advice     Community    
Go Back   FreeAdvice Legal Forum > BANKRUPTCY AND CONSUMER CREDIT > Banking & Credit Cards
Reload this Page Car totaled! Did'nt reaffirm. Now bank wants whats left

Powered by Attorney Pages


  Find An Attorney In Your Area    
 

Reply
 
LinkBack Thread Tools Rate Thread Display Modes
  #1  
Old 03-18-2002, 06:19 AM
tat2me23
Guest
  
Posts: n/a

Car totaled! Did'nt reaffirm. Now bank wants whats left

washington. put car on bankruptcy. didnt reaffirm car debt with bank. couple months after discharge, car gets totaled. insurance company pays blue book, $5975.00. Car financed for $8000.00. Bank wants the rest of the debt after blue book value paid. Since we put the car on bankruptcy, and they received the value of the car, and we did'nt reaffirm the debt with them, do we have to pay the remaining balance?
  #2  
Old 03-28-2002, 06:16 PM
JasonRT
Guest
  
Posts: n/a
Dear tat,

The bank has received the value of their security interest. As such this security has been redeemed and the remainder of the debt (unsecured) was discharged in your bankruptcy. I suggest you have your BK lawyer send the bank a letter explaining this. I am sure they will stop collection action after receiving this correspondence.



[email]JASON@LEGISLATOR.COM[/email]
Reply

« Previous Thread | Next Thread »


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes Rate This Thread
Linear Mode Linear Mode
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
BB code is On
Smilies are On
[IMG] code is Off
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On
Forum Jump

All times are GMT -5. The time now is 09:19 AM.

Contact Us - FreeAdvice - Archive - Privacy Statement - Top

IMPORTANT NOTICE
THE VIEWS EXPRESSED ON THIS PAGE WERE NOT REVIEWED BY THE EDITORIAL STAFF OR ATTORNEYS AT FREEADVICE.COM. Thousands of professionally prepared and reviewed questions and answers in 130 legal categories are to be found at the Question and Answer pages at FreeAdvice.com.
FreeAdvice Forums are intended to enable consumers to benefit from the experience of other consumers who have faced similar legal issues. FreeAdvice does NOT vouch for or warrant the accuracy, completeness or usefulness of any posting or the qualifications of any person responding. Use of the Forums is subject to our Terms and Conditions which prohibit advertisements, solicitations or other commercial messages, or false, defamatory, abusive, vulgar, or harassing messages, and subject violators to a fee for each improper posting. All postings reflect the views of the author but become the property of FreeAdvice. Information on FreeAdvice or a Forum should not be relied upon and is not a substitute for advice from an attorney licensed in your jurisdiction who you have retained to represent you. To locate an attorney visit AttorneyPages.com. Copyright since 1995 by Advice Company. All Rights Reserved.