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Old 11-22-2002, 11:01 PM
pitrpat
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new to ch. 7

What is the name of your state? MI

I have recently filed for ch. 7, and have received reaffirmation letters for mortgage and vehicle. I was told that if vehicles are claimed as exempt, you do not have to pay the full bal. on loan, that in MI you are only required to pay "fair market value" is this true? if so, how do I go about this?
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Old 11-22-2002, 11:53 PM
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Re: new to ch. 7

[quote]Originally posted by pitrpat
[b]What is the name of your state? MI

I have recently filed for ch. 7, and have received reaffirmation letters for mortgage and vehicle. I was told that if vehicles are claimed as exempt, you do not have to pay the full bal. on loan, that in MI you are only required to pay "fair market value" is this true? if so, how do I go about this?

**A: who told you that?
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