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If it has been a year since your chapter 7 discharge and there is still no word from the lien holder on your car would they be willing to negotiate a release?
Wiki User
∙ 18y ago
The question cannot be answered without speculation. The only way to find out what the lender would be "willing" to do is to contact them and negotiate a deal. When you filed for bankruptcy, you should have filed a document called a Debtor's Statement of Intention. You have 3 and sometimes 4 options: (1) return the vehicle; (2) reaffirm the debt and keep the vehicle by making the payments; and (3) redeem the vehicle by making a cash purchase for the fair market value (even if less than the amount owed). Some jurisdictions have a fourth option that allows you to simply keep the vehicle and make the payments without reaffirming the debt. If you kept the vehicle and failed to make payments, they would have every right to repossess the vehicle. They just couldn't go after you for the deficiency balance after selling it at auction. If you offered them enough money, they might be willing to you purchase the vehicle now.
Wiki User
∙ 18y ago
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Can you add furniture rental to your chapter 7 in MD?
you have the choice to keep (reaffirm) a rental contract or to cancel it. The lender might be willing to negotiate with you to reduce the rent. Any past due rent payments will de discharged.
Can you do a loan modification if you are in chapter 13?
A Chapter 13 bankruptcy puts the entire debt collection process on hold to give the filers time to work out a court-approved repayment plan for a portion of their debts. Thus, because the process is on hold, a loan modification can not be enacted while a mortgage is currently under the supervision of the Chapter 13 trustee. However, it is possible to negotiate a modification of a loan with the mortgage lender during the bankruptcy. But it will be necessary to have the bankruptcy case voluntarily dismissed before the modification can be finalized and put into effect. Banks may not be willing to negotiate with the borrowers under the circumstances of a Chapter 13, though.
How do I negotiate on horses for sale?
You need to haggle for them. Let the dealer feel like they are in control and know what you are willing to pay.
How does one come to a compromise?
One comes to a compromise by thinking of what one would be willing to give in order to achieve the goal one is after. One has to be willing to negotiate in order to come to a compromise.
Good things about Saladin?
Saladin was an excellent leader, and he had an excellent understanding of military matters. He was also willing to negotiate with the enemy.
What is a firm estimate?
A firm estimate is an estimate where the buyer is not willing to negotiate the price of an item. When a seller is firm on the price, there is very little you can do.
How long after bankruptcy do you have to wait before refinancing?
Refinancing after a bankruptcyThe time period you have to wait depends on what chapter bankruptcy you filed. Generally, you are able to refinance 2yrs after a Chapter 7 discharge.If you are in Chapter 13, you can refinance the next day with many lenders. You can email a mortgage broker like myself to find out more.To add to the above answer, you do NOT have to wait 2 years to refinance after a chapter 7 discharge, those are for fannie Mae loans. You can refinance a chapter 7 a day after discharge. A chapter 13 can also be refinanced before discharge since it's on a payment plan for 3-5 years from filing date. You can get a chapter 13 refinance as little as 6 months from filing, not discharge and you can payoff your chapter 13 in the process if you have enough equity in your home.
What was Stalin's role in the Cold War?
Stalin had a tendency to maintain the status quo in the Cold War. He was not willing to negotiate or offer compromises to the US.
When does someone surrender their house when filing for chapter 7?
You or your lawyer should negotiate the date of surrender. You will not usually have long, but some mortgagees may be willing to let the bankrupt stay if the pay a "use and occupancy" fee in lieu of rent. Again, only until they can finish whatever needs to be done to sell the house at auction.
Why did Nixon seek to improve relations with China?
china was a growing and influential nation
When buying a horse what does ovno mean?
"OVNO" usually stands for "or very near offer." Basically it indicates that the seller is willing to negotiate a bit on the price.
How do you qualify for Debt mediation?
To qualify for debt mediate you would work with your credit counseling organziation. They in turn will work with the creditor to see if they are willing to negotiate.
