Our Jeep payment is $356 a month. We have 34 more months before it is paid off. Balance right now is just under $12,000. We filed BK and it was discharged 10/2001. We didn't include the Jeep in the BK because we wanted to keep it. Any idea if we can (if any bank will) refinance that loan for a lower payment without extending the length of the loan considering our situation? Do we need to wait until our BK is two years discharged before anyone will touch us? My car is paid off and I want this monster paid off. If a refinance isn't in the equation, what are some suggestions on attacking this? Note: We just bought a house (close in two weeks).
Bummer - why did you reaffirm? Didn't anyone tell you that you could have included the jeep in your bk and still have kept it? It's like the unspoken rule...just keep paying and they don't come for the vehicle....Then with the situation your in now, if you couldn't afford it, you could just drop it back off at the dealer and say bye-bye overpriced jeep, and get yourself a more affordable car....your attorney should have advised you on this one - sorry about that....We didn't reaffirm either of our vehicles and did end up dropping our truck back off at the dealer (379.00 payments were killing us and not worth it) - so I feel your pain. Anyway your bk seems old enough to allow you to get a re-fi car loan, I'd try the link below and see if this helps you at all...our bk was discharged in 6/02 and we rec'vd a loan for our car through Americredit with no problem and this is before I began actually taking care of all the errors on our credit reports! - and we have tons.. By the way, we did rec'vd a crappy rate - 17.5%, but considering what our credit reports looked like, it wasn't so bad! We want to try and re-fi our car after we pay a few more months on the loan and more junk is removed from our reports. Here's the link - good luck http://www.carbuyingtips.com/refinance.htm
