Reaffirming in Chapter 7

[rockobuster]

We are awaiting discharge from our chapter 7 and I was wondering since we have been continuing to pay on our house, 2nd mortgage, loan at bank, and car, do we have to reaffirm these debts BEFORE our discharge?

Since we have been continuing to pay on these, do we even have to sign a reaffirmation? What are the advantages and disadvantages of not signing an reaffirmation agreement?

[robivi3]

That's generally something your attorney arranges prior to anything else. It's pretty important. I don't know the full ramifications but somebody dropped the ball or so it seems.

[tdooders]

On our petition we said we were going to reaffirm two mortgages and two trucks. The only ones that sent any paperwork to do a reaffirmation was the second mortage and one truck which we later surrendered the truck. We got discharged last week.

[rockobuster]

Rockobuster

Our attorney had in our papers that we were going to reaffirm the 1st mortgage, 2nd mortgage, car, and credit union loan. He had mentioned to me that usually the ones we had said we were reaffirming would send an reaffirmation for us to sign.

Since I have not heard anything yet from our attorney (we are scheduled for a discharge on 7/12) I was just getting nervous. I didn't know what, or if anything, would happen if these forms are not signed before a discharge (assuming we get one)?

[tdooders]

I dont think anything will happen as long as you continue to make the scheduled payments and they accept them. I too asked my attorney if the one mortgage was going to send an agreement and he said sometimes they dont and as long as they are accepting the payments things should go on as before you filed. So I wouldnt worry too much about it.

[rockobuster]

Thanks! I just wanted to make sure that the reaffirmations were not required to have signed before or even after the discharge.

[HHM]

Yep, as long as you continue to make the regular payments and that you haven't missed a payment, you are not required to sign a reaffirmation agreement. Just keep making the payments.