| Odds of repossession if no reaffirmation of a car loan What is the name of your state? IL
I just had my 341. Pretty benign. I am giving up one car and a house in a chapter 7. However, the remaing car is worth about $4K less than owed. I was going to reaffirm, but am thinking now that that would not make a lot of sense. The loan is current. What is the likelihood of repossession if I keep the loan current? The car will go off warranty in about 5 months, and if I have to trade it in later, it would be preferrable not to be upside down when trying to do so. Thanks. |