Just filed... Some Q's

[bandrat]

Hello Everyone,

Had our final meeting with the lawyer today, and we signed our ch7 paperwork. We want to reaffirm our car loan (our only car). It is worth about 10k, and we owe about the same on it. The lawyer said he wouldn't sign an affirmation agreement as he is concerned about whether or not we would have income to pay on it if one of us becomes disabled.

I assuming that as long as we keep paying, there shouldn't be any issues, right? The lawyer didn't seem to think so, but I want a second opinion

Additionally, our lawyer is a ch13 trustee. For those of you that have done this before, did you find that having a lawyer who was also a trustee to be beneficial, or not? So far, he hasn't shown much of a bias either way, but he seems fair. Anyway, in the end, he didn't see much of a problem with our ch7 filing. So all should go well. Hopefully...

Thanks to all who answered my earlier questions.

[StaciMM]

As long as you keep your payments current, you should be fine. Signing a reaffirmation is rarely a good idea, in my opinion. About the only exception would be if there is a co-signor or co-applicant on it that isn't filing. Then, you might as well have the account reporting on your credit report as you HAVE to keep it current until its paid in full.