Posts: 3
Credits: 190


Send message to p.rohrbach
Sub: #1 chapter 13 personal loan secured with household goods
Replied on 05-09-2009, 12:27 PM
Reply With Quote

I just received my petition for chapter 13 and have a question. I have a personal loan that I secured with household goods and it is listed on my petition this way - does this mean that I will lose property up to the value of what I owe on the loan or should I consider reaffiming the loan to be able to keep the property ( which is a sofa, computer) ..
Can someone help me with this question??

thanks so much

Anonymous
Anonymous
Posts: n/a
Credits: 0
Sub: #2
Replied on 05-09-2009, 12:33 PM
Reply With Quote

Who is the loan company and are the items that the loan is secured with actually items you told them about and own?

Posts: 56
Credits: 646


Send message to mjwalton
Sub: #3
Replied on 05-13-2009, 07:24 AM
Reply With Quote

If you are filling chapter 13 then that loan will be a part of the payment plan they set up for you. They can not come get your things if you are paying them through the repayment plan. IF you file chapter 7 however, that is a different story. You will have to reaffirm in order to keep those items. If not the company can take those items that are listed as colateral.




«Previous Thread | Next Thread»
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes
Linear Mode Linear Mode

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


All times are GMT -8. The time now is 01:03 AM.






About Us | Contact Us | Privacy Policy | Affiliate | Sitemap | Espanol | RSS Feeds| Terms of Services
* Disclosures:
  • By signing up for counseling session, your provided details (Name, Email ID and Phone No.) will be forwarded to the company advertising on the DebtCC. However, you have no obligation to use their services.
  • Some creditors and collection agencies refuse to lower the pay off amount, interest rate, and fees owed by the consumer.
  • Creditors/collection agencies can make collection calls and file lawsuits against the consumers represented by the debt relief companies.
  • Debt relief services may have a negative impact on the consumer's creditworthiness and his overall debt amount may increase due to the accumulation of extra fees.
  • The amount which the consumer saves with the use of debt relief services can be regarded as taxable income.
Page loaded in 15.737 seconds.