Reaffirmation dilemma

[woohoogirl]

Okay, after jumping through hoops and drawing pictures for these people at the bank where my car loan is...I am presented with a slight dilemma. The bank says that if I reaffirm my car loan, they will continue to report to the credit agencies my on time payments. However, if I choose not to reaffirm, then no problem, just keep paying and they won't report. I'm not upside down on my loan (I don't know that happened ) and I should pay it off in approximately a year and a half. I would have to pay a $100 fee to the attorney to do the reaffirmation.
So pros and cons of whether to do it or not. I know that reaffirming keeps me on the hook for the entire balance, but would reaffirming and have it reported to the credit agencies be benefical to rebuilding my credit? While I'm not looking to getting a whole new bunch of debt, I would like to buy a house a year or so after getting my car paid off.

[HHM]

You may want to clarify exactly how they are going to report the car loan...my thinking is they will still report the car as IIB, but keep reporting your positive payment history, which I think the net result for your credit report would be a wash.

You need to make this decision based on your financial circumstances...and not so much based on potential future credit...can you realistically make the payments for the remainder of the loan. How precarious is your budget. I would think that if you don't have at least a $200 per month surplus after you file BK, then you probably should not reaffirm.

[woohoogirl]

You may want to clarify exactly how they are going to report the car loan...my thinking is they will still report the car as IIB, but keep reporting your positive payment history, which I think the net result for your credit report would be a wash.

If the net result would be a wash, then I think I'll choose not to reaffirm. Since it won't help me, but could potential hurt me.
Thanks!!!

[danaf]

unless you get them to agree in writing that they will remove the IIB?