It sounds like you want to renegotiate in part because you want to keep your relationship with the company.
A couple things to keep in mind:
1. If you are renegotiating for a lesser amount, the bank/CU is suffering a loss, and that likely won't be overlooked down the road. They would be doing so based on preserving some of their interest and keeping their losses to a minimum, but in their minds, they are still losing money. I don't think you should assume this will preserve your relationship with them going forward.
2. depending on how much you are able to knock off the loan, you are likely still going to be underwater on this vehicle, if you are already 6K underwater. I can't forsee them agreeing to forgive that much negative equity.
IMO, I would continue to pay on whichever car(s) you need for now, but would not reaffirm the debt. This will give you some time to figure out what works best for you going forward. there are plenty of options for rebuilding, and you maintain your option to change your mind and walk away from one or both vehicles if that works best for you. I don't think you should base your decision solely on the assumption that your relationship with this bank/CU will be preserved.
When we filed our BK13 back in 2010, our CU stated that their policy was to "discontinue all future business" with a member if they suffered ANY loss. We were lucky that our attorney was able to include the CUs unsecured debt as "secured" in our plan, so while the rest of our unsecured creditors received approx 40% payment over the 5 years, the CU was paid at 100%, therefore preserving our relationship, and preventing them from enforcing cross-collaterization on our other accounts. To this day I still scratch my head on how this was accomplished, lol. It worked for us, because our payment was a set amount, so how it was distributed by the trustee did not affect our payment either way.
K
You can't have your cake and eat it too. But you can dip your finger in the bowl and lick the icing!
