Hello to all cyber-posters!
This is my first message, so I am glad to join this community.
As a follow up to the recent thread "Reafirming Some Ceditors", I would like to ask if it is indeed possible to reafirm part of the debt from credit cards after filing for Chapter 7 as opposed to reaffirming whole debts. You see, according to
<Link Removed By-Todd>
"If you owe $2,000 on (a) card, wouldn't it be nice to wipe out say, the first $1,800 of the debt and reaffirm to pay back only $200...With a reaffirmation agreement, you can do exactly that."
If what is mentioned above is correct, then paying $200 from a total of $2,000 equals to paying just 10%. Is this really possible with Chapter 7?
So, my question is, if I file for Chapter 7, can I reaffirm 10% on some or most of my credit cards?
Before we go into the debate "why would you", or "why wouldn't you", I just want to know if this is possible to do from a technical point of view, so please bear with me.
Goodwill to all.
Albert
This is my first message, so I am glad to join this community.
As a follow up to the recent thread "Reafirming Some Ceditors", I would like to ask if it is indeed possible to reafirm part of the debt from credit cards after filing for Chapter 7 as opposed to reaffirming whole debts. You see, according to
<Link Removed By-Todd>
"If you owe $2,000 on (a) card, wouldn't it be nice to wipe out say, the first $1,800 of the debt and reaffirm to pay back only $200...With a reaffirmation agreement, you can do exactly that."
If what is mentioned above is correct, then paying $200 from a total of $2,000 equals to paying just 10%. Is this really possible with Chapter 7?
So, my question is, if I file for Chapter 7, can I reaffirm 10% on some or most of my credit cards?
Before we go into the debate "why would you", or "why wouldn't you", I just want to know if this is possible to do from a technical point of view, so please bear with me.
Goodwill to all.
Albert
Comment