Reaffirmation

[GIVFOUR]

I Received My Papers To Reaffirm My First Car And Am Waiting To Affirm My Second Car And The House. Is There A Chance That The Loan Company Wont' Reaffirm My Contract Or Do They Have To Reaffirm With Me.

[rrockinggramma]

It is up to the trustee and your attorney. If your attorney thinks you can do it and he supports it and the trustee feels the same, then there shouldn't be any issues.

[lrprn]

I Received My Papers To Reaffirm My First Car And Am Waiting To Affirm My Second Car And The House. Is There A Chance That The Loan Company Wont' Reaffirm My Contract Or Do They Have To Reaffirm With Me.

Reaffirmation is a voluntary act all around. You cannot be forced to sign a reaffirmation agreement and the lenders cannot be forced to sign a reaffirmation agreement either.

If you filed without a lawyer, then your bk court judge has to approve any of your reaffirmation agreements before they can go into effect.

[ohwell]

Even with an atty, we still had a reaffirmation hearing scheduled, so I think it depends on what your numbers look like also. We are negative on our J.

We have decided to rescind our reaffirmation once our atty confirmed that it doesn't affect our ch 7 since we are past the objection deadline. We thought long and hard about it, and we just can't do it, even though the bk judge would most likely grant it per our atty since we had to do this lengthy declaration of need. The payments are just too much to bear with our reduced income, it was a desperate move at first, but now that our deadline is over, it was a pleasant surprise we could rescind on the car still..

Hubby out right now looking at used cars... Happy Holidays we get a beater!!