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BK and car loan...


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Posted by Koolkat (24.120.9.246) on September 08, 2002 at 20:43:01:

I have recently had my chapter 7 BK discharged.
As soon as I got the discharge, I ordered a copy of my credit report from the 3 CRA's and I noticed that my car loan that I have with mitsubishi was listed as included in the BK, the thing is that when I filed I listed that car under the tinghs that I wanted to keep and I never had a late payment on that particular account.
Then I called mitsubishi and was told that, as my BK had already been discharged , it was too late and it was going to stay like that on my credit file for 10 years, because I needed to file a separate reaffirmation agreemnt Before the discharge.
I then called my attorney and explained the situation, and was advised to just surrender the car and get something new... (I am $7.000 upside down on this car)
My questions are
1) should I surrender the car and get something else (eliminating my 7K negative equity)
2)What are the chancer and what interest rates can I expect, with a co signer and 25% down payment on the car? ( my fico score is 540, cosignor FICO score is 720)



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