Comments on: Reaffirmation Agreement in Bankruptcy. What Is It?

By: CANDI

CANDI — Sat, 11 Feb 2012 17:52:12 +0000

I filed chapter 7 bankruptcy and its been closed for 7-8 months now. I signed the reaffirmation form to keep my vehicle and was trying to trade it in for a different car but they are saying i cannot do this. They said that in the system it doesn’t look like my vehicle and it looks like I’m more less “renting” it. Even if the car dealership were to pay the remaining balance on my loan I still cannot turn it in. I’m confused. My lawyer is saying he shows that I did sign the reaffirmation letter and he sent it in but my bank I’m financed through on my car is saying that he didn’t turn it in, but they are showing that they DID send it to him. I’m not sure what to do at this point. As of now, by pay off amount on my car keeps getting higher and higher due to my bank charging me almost $3 per day of interest. Do you have any advice for me?

By: Bobbie

Bobbie — Thu, 19 Jan 2012 14:31:20 +0000

I have filed for a divorce over a year ago, my husband refuses to come to an agreement, now hes decided he wants to file bankruptcy. I have been living in home and making the payments, and driving the dully pickup and making the payments, he has these listed on the bankruptcy, they are in both our names, how and what do I do?

By: Lori

Lori — Sun, 15 Jan 2012 18:48:10 +0000

In 2009 I filed full bankruptcy. Because the courts deemed that some of my income was actually an asset after the initial filing I am responsible for some of my debt which IS currently being paid thru the Trustee. When i filed the initial paperwork I did add in the the Intent to reaffirm the loan paperwork for my car. Neither I nor the loan company actually went any further with it and actually reaffirmed the loan thru the courts. Now I am unable to pay for the car and they are threatening repossession. If they reposse it am I liable for the remaining balance on the loan? The trustees office says no since the bankruptcy has already been discharged without reaffirmation but the loan company says yes. So confusing

By: suz

suz — Thu, 12 Jan 2012 00:50:27 +0000

hey i am wanting to know the same thing.. we never signed a re affirmation on our house can we walk away from it?

By: Christina

Christina — Thu, 05 Jan 2012 22:33:44 +0000

I am in the same exact postion right now, car is paid off, but I owe on an unsecured loan with the same credit union that the car loan was with. They are holding the title. Can they repo my car once I include the unsecured loan in my Chapter 7?

By: clint

clint — Tue, 25 Oct 2011 18:40:44 +0000

Someone please answer? I had a ch 7 in 2004 and received a discharge. My Mortgage was not reaffirmed. My credit score has improved to the point that I could buy another Home. Would my credit be affected if I walk away from my current mortgage?

By: chad

chad — Sat, 22 Oct 2011 09:46:55 +0000

Im in the exact situation, can anyone tell me what you found on the matter. Im under the impression that the damage has already been on your credit. when i look at my credit report it shows the house was covered under chapt 7 bankrupcy in 2005 and shows a 0 balance. If I walk away they cant report that b/c its already there. Or will a forecloser show up on your credit later?

By: Carol

Carol — Sun, 16 Oct 2011 18:26:34 +0000

I recently filed bankruptcy and my first court date is come up in a couple of weeks. I received a reaffirmation agreement for the car and for my mortgage. I did the bankruptcy myself and I am not sure about the reaffirmation agreement, if the car finance company will lower my payments. I tried to get a loan modification from the mortgage company and they are not for it at all. They took my info down, but told me it doesn’t look like I will get it because now since I don’t have to pay my credit card bills, I will have enough money to make my house payment. It is a rather large amount and I was working when I bought my home, but now I am retired and the payments are high for a person who is on SS. Do I have to file the papers for the reaffirmation agreement when I appear in a couple of weeks or do I do it before I go, or does the finance company do it?

By: Lynette Andrea

Lynette Andrea — Wed, 05 Oct 2011 03:42:16 +0000

In your statement of intent, you should declare to keep the home and create a new agreement with new terms.

By: Lynette Andrea

Lynette Andrea — Wed, 05 Oct 2011 03:40:23 +0000

Shortsale the home or make a Request for a modification.