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Reaffirming Vs Non-Reaffirming

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    Reaffirming Vs Non-Reaffirming

    I just went on Monday, for 341 hearing. My bankrupacy was ruled no asset case, I noted that my Lawyer did not say anything about reaffirming my car loan. So should I still make payments to loan company. I heared that if you don't reaffirm you can still pay, but they can not send you a bill or call you. Also what if I want to get a car that is cheaper then mine. I know mine was put into bankrupacy so can I just get the new loan and return my car to old car lender without issue.

    #2
    here's a GREAT "sticky" for you to read here on the forum posted by one of most repected and brilliant atty's that hang about this great forum:

    http://www.bkforum.com/showthread.ph...-very-bad-idea.

    it's not really about car loans, but just gives you a general idea of how reafirming and not reafirming works...etc.

    many people do a ride thu with their cars...other banks or lender what you to reaffirm.
    8/4/2008 MAKE SURE AND VISIT Tobee's Blogs! http://www.bkforum.com/blog.php?32727-tobee43 and all are welcome to bk forum's Florida State Questions and Answers on BK http://www.bkforum.com/group.php?groupid=9

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      #3
      Originally posted by kuzam2 View Post
      I just went on Monday, for 341 hearing. My bankrupacy was ruled no asset case, I noted that my Lawyer did not say anything about reaffirming my car loan. So should I still make payments to loan company. I heared that if you don't reaffirm you can still pay, but they can not send you a bill or call you. Also what if I want to get a car that is cheaper then mine. I know mine was put into bankrupacy so can I just get the new loan and return my car to old car lender without issue.
      If you didn't sign a re-affirmation agreement, then you have a lot of flexibility. You can voluntarily surrender your car to your lender at any time. It may not be easy to "just get a new loan" though, since your current credit score reflects your recent bankruptcy.
      Filed/discharged/closed Chapter 7 in 2010!

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        #4
        Originally posted by tobee43 View Post
        here's a GREAT "sticky" for you to read here on the forum posted by one of most repected and brilliant atty's that hang about this great forum:
        tb,

        You have to stop. You’re making me chuckle. . . "brilliant". . . nah. . .

        Des.

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          #5
          When I was filing for my BK, my lawyer did not even mention to me about re-affirming my car so I had no idea what that was. All I knew was that I wasn't getting any statements from them while I was going through my BK but that was I was expecting. So after I got discharged, I called in and asked them to start sending me statements, and they told me that they cannot send statements because I've never submitted an reaffirmation in my BK. So I called my lawyer, and he sent me the reaffirmation and I signed it. But since it wasn't submitted at the time I was filing for BK, now that I am discharged, they told me there's nothing they can do about that. They told me to just remember to make the payments on time every month and I should be fine. I have been making monthly payments even during my BK. Did anyone have this issue?

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