Retained Lawyer

[mizzmonick19]

Hello everyone...

So am in the process of filing bankruptcy... I just retained my lawyer last Thurs... I'm so happy that I'm moving in the direction to obtain a new beginning... I have been debating on whether to file for a few months now...anyways... I have a question (waiting on my lawyer to return my phone call) so I have a 96' Nissan Maxima with over 200,000 miles on it... I was financed through an in house financing dealership... I pay $125 every two weeks... and the payment plan is until March of 2010.... CRAZY RIGHT?????

So my question is how can I get out of this?? Is it even possible??
My lawyer told me to go a carmax location here in MD, and ask them to give me an appraisal for my car...and I guess I could just pay the dealership that amount??? I was confused so I called the office back and the paralegal told me I need to contact 722 redemption...and when I did they told me I didnt qualify for the program because my car needed to be a 04 or newer...

So what are my other options??? I really don't want to turn the car back in because I am using it for transportation...to and from work/school...

Can I get into an auto loan while in the process of filing bankruptcy???

Thanks in advance

[chane]

Payments are until March 2010? Did you mean 2011? March of 2010 has passed.

[mizzmonick19]

i meant to say until march 2012

[chane]

I don't know of any way possible to get out of it without paying it off or giving the car back. I would give it back/include it in the bk and try to get a better one. It should be fairly easy to once all that debt is gone.

[mizzmonick19]

thanks chane for ur reply...am still waiting for my lawyer to return my phone call...i think i may just do that...this car is really a hassle to drive...but do u think i could get into a car loan now???or will i have to wait?? i mean what should i do in the meantime?? thanks in advance...

[chane]

Well, I just know that lenders are more likely to loan to someone who just filed bk, because they don't have debt anymore and they can't file bk again for years.

But, look around and do your research to find a place that won't get you a horrible rate. Try to save up money and get a down payment. You don't want to get in that situation again.

[mizzmonick19]

Thanks chane...so my lawyer office called me back yesterday, and basically my lawyer is going to "force" the car dealership to settle. I will be going to carmax this weekend...so we will see what will happen. I really need this car even tho its "junk", and then in the near future apply for an auto loan, or a private loan to buy a car.