Reaffirm Question

[smallchange]

I have a car loan at my credit union about 9000 balance,vehicle worth about 10000. I will be seeking to discharge a cc (10000 balance) and an unsecured loan (9000) balance from this same credit union. I stopped making payments on the cc over 2 months behind and on the unsecured loan 3 bi-weekly payments behind. I continue to make the bi-weekly car loan payment as i always have,never been late because i want to keep the vehicle. Without the car payments i would almost certainly have disposable income and not be eligible for chapter 7. Can the credit union deny me reaffirmation on the car even though i have always been current on payments? I own another vehicle with over150,000 miles and i drive 107 miles to work 5 days a week,i need the other vehicle for backup. I also have about 5000 in other unsecured debt that i will be including in my bk and i live in Pa. I don't want to forced into chap 13 but it seems my credit union could take my vehicle and force me into a 13 or is the law on my side not allowing this?

[tinroofrusted]

If you are wanting to file Chapter 7, then count on your credit union closing all of your accounts with them. Most of them won't let you reaffirm just one debt; you must re-affirm them all. So, yes, they can deny you your re-affirmation. Mine did that. Several other people have had this happen to them as well. They probably have a clause somewhere. The best thing to do would be to call and ask them.

Chances are though, they're going to want all or nothing; count on it!