Friday, November 4, 2011

Chapter 7 Bankruptcy - Discharge/Automobile Question?

I filed for Chapter 7 in May and am expecting a discharge within the next several weeks. The biggest problem I had during this process was dealing with my car. I had owed about $6,000 on my auto loan, which I listed on my schedule when I filed. There were several problems when I tried to reaffirm the loan with my lender, which I won't go into at length. Long story short, because the reaffirmation didn't go through, I spent last Friday dodging the repo man. However, over the weekend, I managed to (thank God) come up with the $6K to pay off the loan balance with my auto lender. So now the car is legally mine. Here's my question: because I haven't technically/legally received a discharge from the court yet (although the trustee has filed a report of "no ets" and, as of today, there were no objections filed with the court), will the court force me to relinquish what is now "my" car before being granted a discharge? It is an older with with a resell value of about $6K and an actual value of $3K.

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