Can I surrender a vehicle without repercussions aftera bankruptcy discharge if no reaffirmation agreement was signed?

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Can I surrender a vehicle without repercussions aftera bankruptcy discharge if no reaffirmation agreement was signed?

We filed Chapter 7 in 08/10. We originally planned on reaffirming on 2 vehicle loans. We signed a reaffirmation agreement on one, not the other. Bankruptcy was discharged 12/10. If we surrender the vehicle now that we did not sign a reaffirmation agreement on, can the creditor come after us for the remaining balance of the debt?

Asked on January 25, 2011 under Bankruptcy Law, Illinois

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

The general rule is that the debt that you intend to discharge must be listed on the bankruptcy paperwork.  So I am guessing that the loan was not listed because you intended to reaffirm it and now you are wishing you had made another choice.  I think that you may be stuck with it unless you want to go through the trouble of making a motion to reopen the bankruptcy to amend the petition to try and discharge the debt.  It can be done but I would speak with your bankruptcy attorney on the matter as soon as you possibly can. The longer you wait the more difficult things can become.  Good luck to you.


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