My question involves bankruptcy in the state of: North Carolina.
I am filing bankruptcy for credit cards and personal loans. I also have two vehicles that I have active loans on and a mortgage. Initially, I was going to file a 7 and keep paying on my car loans and home, signing reaffirmations on the vehicles. However, I just found out that the credit union that gave me the loan last year on my new vehicle which I still owe about $35,000, never got a lien on the title. They are currently trying to get me to sign paperwork so they can get a lien on the title. I could sign and stick with the 7, or I can use the vehicle as an asset to file a 13.
I read there is a way they can get a lien on the title without me signing though. Filing a 13 will save me an additional 10k and all my debt will be covered in 3 years instead of 5. Current monthly payments wouldn't be much different with a 7 or 13 for the next 3 years. The 7 would be the quicker option. It is a priority that I keep my vehicles and home. I'm concerned that the 13 might backfire. The credit union should have a lien on the title and I'm just not sure if I should try to take advantage of them not having one for whatever reason. Thanks for all of your help.