Posts: 16
Registered: ‎01-30-2013
Re: 653 EQ need loan 45 days past 7 discharge

Thank you for your replies.

My father mentioned another option. Since the car is only worth $7500 in good condition and the debt is discharged, do you think the bank (wells fargo dealer services) will take a reduced payoff? Since they would only get about $6000 at an auction? We owe about $13000 on the car and I thought we would offer $6500. Or I could take the car to Carmax or another dealership (with it's current issues, burning oil) and get an offer then offer them that?

My father had never heard of anyone doing this but thought it might be an option since they can't go after us for the deficiency since it was discharged in bankruptcy and it might be finacially beneficial to the bank.