Legal Question in Bankruptcy in Texas

My wife and I filed chapter 7 bankruptcy around 2 years ago in Texas. We were lead to believe it was in our best interest to reaffirm our car loans. I have since traded in my wife's car, but still have mine. I am very upside down, around 10K, and need to get something with lower payments. The loan (which is a lease) is currently not reporting to any credit bureau according the finance guy at the car dealership. They also are apparently not legally allowed to attempt any collection of the debt as they have not sent me a bill in over a year. I called and asked them to start sending them again, they said they were not legally allowed to make any attempt at collection, even sending me a bill. My question is, can I stop making payments and allow my car to be repossessed without it negatively affecting my credit? Would they be allowed to sue me for the remainder of the loan?

Thank you in advance.


Asked on 10/19/10, 10:00 pm

1 Answer from Attorneys
Donald McLeaish McLeaish&Associates;, P.C.

ask the lawyer who filed bankruptcy..he should know..

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Answered on 10/25/10, 8:28 am


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