Need help with reaffirming please

[butterflyness]

Ok, im set to have my meeting on June 6, im nervous as all hell, but told i shouldnt be. Well my biggest issue is that i can reaffirm to keep my car. its a 1999 ford contour, worth just a little over $6000. I owe about 5000 on it, and am 2 months ahead on payments. (still don't know how that happened) Anyways, im getting all these brochures for a new car, which i definetly want. nothing is wrong with the car, besides visual. Huge crack on the top which definetly has to be a factory defect, and paint peeling. I guess im just not a big fan of fords. The only thing is, this is a car that my dad co-signed on for me. My question is, will this effect his credit? And will the car people be knocking on his door for the rest of the money or anything like that? If it helps, my dad just recently bought 2 new vehicles within about 3 months from eachother. OK that aside, if i choose to reaffirm to keep my car and soon after research to find a good car with a low rate blah blah blah, will they be able to take my car as a trade in, and pay off my loan, or no. Just a question. btw i appreciate any responses i get. thank u.

[tinroofrusted]

If you keep this car and trade it in, you are going to be upside down in equity for a new car.

If you keep this car, and continue to make ontime payments, you will boost your credit score significantly.

YES, this will affect your dad if you file bankruptcy. The bank CAN go after him. To co-sign means that you will assume responsibility of the loan of the signee defaults.

You may also NOT be able to get a new car after you have filed. Technically it's not a good idea to purchase anything, until your case is discharged. A lot of banks won't even touch you once you've filed bankruptcy, and you might want to take that into consideration.