Need Help with Reaffirmation of Vehicle

[yissa]

Hi,

I have a few questions about reaffirming a vehicle. I was discharged in April/05 and haven't reaffirmed my car loan. I have continued to make my payments on time every month though. I bought the car in April of 2004 and paid on time every single month. I filed for bankruptcy in Jan 2005. The lawyer told us that reaffirming the vehicle could be risky. Right now it looks really bad on my credit report because it says chapter 7 bankruptcy. I have paid on time the whole loan and want to know if reaffirming it would give me a positive item on my credit report. The lawyer was telling us that they could take the car if we reaffirmed but why would they take the car if I have been paying it perfectly? Is there a chance that they would do that? I plan on paying off the car and would like it to reflect positively on my report. Can I still reaffirm since it has been so long since my discharge? How do I reaffirm the loan too? Do I have to go back to my lawyer and have him do it or can I do that myself. Thanks for any help and info anyone can give me!!!!

yissa

[StaciMM]

Unfortunately, its too late. The debt was discharged in your BK which means you're not obligated to pay, and that is why it is showing IIB on your report. If you had signed to reaffirm before the discharge, the creditor would have continued to report payments, etc.

On the bright side, if something happens and you can't keep up the payments, they can't charge you.