So I am STILL waiting for my discharge. Should have been earlier this week but oh well. Anyways, I have been repaying a non-reaffirmed secured loan. I tried to get it re-affirmed but they wouldn't budge on lowering the interest rate down enough to make my lawyer and judge happy. Normally I'd just let it go but since it is secured by my work tools and some household items, I have been paying on it. Yesterday when I made a payment, I noticed I was being charged interest. Is that something they can still do or not since technically I won't owe on it any more? Another question and this may be lender specific, but I tried to pay off so it wouldn't hang over my head anymore and the lady told me not to. For the reason is if I pay it off now, the $0 balance would be lost in the BK. So she told me to hold off on any payments until after my discharge. I was far enough ahead to not make anypayments until July so she is willing to wait until then if needed. The reason she states is because if its lost in the BK, they could no longer lend to me. Despite the fact that they all would know that I paid in full but the higher ups wouldnt see it that way. I guess in her way, it would show an balance (atleast internally) and that I paid it off and then they could lend to me again. For both of them, is that normal? Being charged interest on a debt I technically no longer owe on and the payment request. The ladies have worked with me the entire time throughout my process and I have kept them updated. Even stopped in just to say I will be in a few days to make a payment. They are fully aware of my intention of not wanting to burn them. They are one of the easier places to get a loan and not so high (still high though) interest that isn't predatory in its collections.
30 day post DC
60 days post DC
94 days post DC
Its still an open account and the terms live on from when you signed the papers to get the loan. You can walk away. But thats not your intentions. So it will be the same before during and after BK.
@FireMedic1 wrote:Its still an open account and the terms live on from when you signed the papers to get the loan. You can walk away. But thats not your intentions. So it will be the same before during and after BK.
Thank you. I thought since it was discharged, it would be stupid to keep the interest going since I can technically walk a way.