Question by : will a bank negotiate the cost that I owe on a vehicle if I reaffirm in a chapter 7 bankruptcy?
Best answer:
Answer by efflandt
The lender has the upper hand. They might renegotiate the terms (payments for a longer time), but are unlikely to agree to a lower balance because they have no incentive to do so. If you do not pay what you owe them, you never get clear title (whether they repo it or not).
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