babyrattles
New Member
If or when we file chapter 7, i need help knowing what will be taken and what will not, I have looked at the Colorado exemptions. The only creditors we will have are the lender of the condo and the lender of a motor home. if I understand chapter 7 correctly, it will wipe out my balance on the condo and I believe the lender of the motor home will take it in judgement and then re sale it as a repo or at auction. Am I allowed to negotiate with the lender of the motor home to continue to pay it off since we will have the funds through retirement annuities to do so, or does it automatically go as a repo back to the lender with chapter 7? That does not seem like a good financial decision for the lender of the motor home since we will be a position after the condo is taken off the books to pay the monthly payment. If the lender of the motor home takes it back they will be upside down and will lose money. Sorry if this message is convoluted but like most other folks during these financial times just a bit stressed about the situation and never thought in my life time I would ever consider filing a chapter 7!