Eldorado, TX Bankruptcy Law Firms & Lawyers

First of all, you need to consult with your attorney about this matter. If you reaffirmed the debt, yes they can go after you for a deficiency judgment. If you are unable to pay, and the car is repossessed, and the bank gets a lifting of the automatic stay, and they get a deficiency judment against you, it will be good for 20 years if they record it properly. You see there are many things that your attorney can help you with, on this one issue.

Don't take legal advice from your creditors.   That's rule #1.   If you file a bankruptcy case and receive a discharge, the discharge will include all debts that you owed on the date your bankruptcy case is filed.  So, if you incurred the debt you mentioned in May 2013 and file your Chapter 13 after that, the debt should be discharged unless it falls into one of the types of debts excepted from discharge. These exceptions include debts incurred through fraud, domestic support obligations, certain taxes and others.   As a final thought, if your lawyer is too busy to answer your questions, you may have picked the wrong attorney. Mark Markus has been practicing exclusively bankruptcy law in California since 1991.  He is a Certified Specialist in Bankruptcy Law by the State Bar of California Board of Legal Specialization,  AV-Rated by martindale.com, and A+ rated by the Better Business Bureau.  

Most banks in our area will not consider a mortgage application until two years have elapsed since the discharge in the case. You can get around that if you have a nice deposit to put down to create equity in the home, but that is usually the only exception.