Post Discharge - In another financial bind

[Smarty0103]

I filed a chapter 7 in February 2014 and got my discharge June 2014. I was so excited to start rebuilding and getting my life together. I found out my husband and I were having a baby and then I lost my job. Before the spiral downward, I financed a new car and took out credit cards to rebuild. After I lost my job we could no longer afford full coverage insurance and changed my insurance to just liability. Friday I totaled my car. Which means that I will now have a repossession on my credit and I am absolutely mortified. I did all of that work for nothing. I know my decisions were poor but if anyone has been in a similar situation or know anything about what to expect or what I should do, please let me know. 

I assume the car company will sell the car and bill me for the difference. I have even considered paying on it still if that is an option.

[CWESTL]

I'm sorry to hear about your current situation. However, there are solutions to every problem. Who was deemed at fault for the car accident? If affordable, you can continue to make the car payments to avoid adverse activity on your CRs. You won't be able to bankrupt this debt anytime soon as your bankruptcy filing was in 2014. Are you receiving unemployment benefits? I would continue to make payments and focus on becoming employed.  

[Smarty0103]

I recently got a contract job so my income is better now. We were deemed at fault for the accident unfortunately. The car company knows about the accident and that there was not full coverage insurance to cover the car. I wonder if they will demand full payment now that their security has been totaled... I am just really curious as to how this will play out. In the meantime I will continue to to make the payments and see what they do I suppose. Also - my bk is discharged but we are still paying on an asset, is there anyway to re-open it to add this loan since the BK is not technically closed yet? I know thats a long shot.

[CWESTL]

I'm assuming you filed Chapter 7 bankruptcy. If so, items included as dischargable debt are those debts incurred up until your bankruptcy filing date. There are a few circumstances allowing for a bankruptcy filing to be reopened, but to the best of my knowledge does not include situations such as yours. Consult your original bankruptcy attorney for more information.