Okay...here is my situation. I have a car that is ALMOST paid for. I technically have 3 more payments to make. But, I may have a slight balloon payment at the end of approximately $600. My question is this....I spoke with the company that is financing the vehicle. They just found out about my bk-7 filing. I was asked if I wanted to reaffirm the account. Why would I reaffirm with 3 payments, and possibly the small balloon payment that will be due at the end. I'm sort of confused at this point. With three payments left remaining, and the possible balloon payment (she wasn't too sure of how much it would really be), would it be a waste to reaffirm. The lady told me that I could negotiate a settlement for the remaining balloon balance, and I plan on doing just that. Either way, I will keep my hooptie!!! She told me that I could negotiate for a settlement of 60% of the balloon balance.
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Hey, I don't have an answer for you (my question is similar and submitted just before yours) but I do have a question for you. How were you notified that you had to reaffirm? Did you just proactively call? Did you attorney call? Did the auto finance company call you? thx in advance. Oyveh -
got your message... thx.Comment
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I just happened to call to make a payment by phone. The customer service rep checked something, then asked if I had filed BK. I told her yes, and she asked if I had reaffirmed. I explained that my attorney said I did not have to, as long as I continued to make payments. If they send a reaffirmation agreement, I will not sign it (at least I don't plan to). Good luck to you. But I definitely would contact WF to see if reaffirmation is an option instead of losing your vehicle.Originally posted by oyvehComment
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