Announcement

Collapse

Forum Rules (Everyone Must Read!!!) (updated: 04/28/2015)

Welcome to the Bankruptcy Forum. Bankruptcy (BK) Forum is known as BKForum.com and will be referred to as BKF hereinafter. In order to ensure a long term success of our vibrant community, we have established certain rules and guidelines to which everyone must adhere to. Please take your time to carefully read our rules, before you start to participate in the community.

Things you agree to do:
BKFORUM.com (BKF) users agree to use the search function before starting a new thread. This prevents duplicate discussions and allows for better organized topics.

All BKF users agree to read the sticky posts which may be available at the top of a forum page. These Sticky posts often contain valuable information. They may also outline more rules and guidelines specific for that particular forum, stickies are put in place by that forums moderator(s) or admin(s).

Things you agree not to do:

All BKF users agree not to call people names or write a post simply to make a personal attack, or get a negative reaction; this behavior is not allowed on our forum. The use of derogatory language aimed at anyone will be severely dealt with. There is no need to agree with each other, or to even like each other. However, by signing onto BKForum.com you agree to treat each member and guest with the respect they deserve. No threats or personal attacks will be allowed.

All BKF users agree not to discuss, engage, or encourage any behavior or activity which violates the law. Discussion of drugs, violence, murder, theft, vandalism, fraud or any other issue which could be used to help individuals break the law is strictly forbidden.

All BKF users agree not to "bump" old threads, unless there is a specific benefit to the community by doing so. But in most cases, please don't post in very old threads, instead start new threads.

All BKF users agree not to attempt/use another members account. It is against BKF rules to use any account other than your own. Impersonating another member will result in an immediate ban. It is also against the rules to open more than one account in your own name without permission from a moderator or administrator. If you have been banned for any reason, it is against the rules to open another account. If you were banned temporarily and you are caught using another account you will be banned permanently. Choosing a moniker which is similar in either sound or spelling as a moderator or administrator is strictly forbidden.

All BKF users agree not to private message any moderator, admin, or other member with questions related to their personal circumstances (Questions about the forum or issues with the forum are ok). This forum only works when members share their experience and insights with everyone.

Things you agree not to post:
All BKF users agree not to post any derogatory/racist/or sexist remarks. This includes attachments, links and all information contained within posts, signatures, and avatars, failure to comply with this rule will result in a permanent ban.

All BKF users agree not to post any copyrighted or trademarked information without the express written permission of the owner(s) / proper citation of source.

All BKF users agree not to post any real names, addresses, telephone numbers, email addresses, social security numbers, or any other personal details (their own or other people's).

All BKF users agree not to post links, pictures, attachments, videos, or the like of pornographic content, objectionable material or extreme violence, whether cartoon or real.

All BKF users agree not to use BKF for advertising purposes without a written contract between yourself/company/agent and the administration of BKF. Blatant advertising will result in a ban.

All BKF users agree not to spam the forums. Spam includes but is not limited to posting erroneous, non-relevant-useless, off-topic, or meaningless posts. Spam may also include posts which contain no text, or large areas of blank space between lines. Simply posting emoticons without text is considered spam. BKF is the largest bankruptcy message board and all the content is intended to help other users. Please help us improve the quality of our forum by making sure that your posts are well-worded, spell checked, grammatically correct and syntaxed.

Regarding actions of moderators and administrators:

The forum is no place to air out your opinion or be judgmental of our staff and its capabilities.

All BKF users agree not to abuse or mistreat moderators or administrators. It is against BKF rules to post any information regarding bans or any other action taken by a member of the moderating or administrative team. If you wish to discuss bans or warnings please do so via PM. To place a complaint against a moderator, send a PM to a super moderator. All Moderators are equal, any decision made by a moderator must be adhered to. If a moderator tells you something you do not like, do not go to another moderator looking for a different answer. If you are caught doing this you will be banned. The moderators work as a team and respect the decisions made by their peers and will help enforce them unless an administrator tells them differently.
If you have an issue with how the forum is run, then notify one of our administrator and we will look into the situation. We have in the past and still do appreciate any input that you offer this forum. But critical input and/or judgmental postings towards the staff will result in you getting banned.


Should you find a thread offensive or out of line, then notify a Mod in a PM so they can evaluate the situation and do the action deemed necessary.

All moderators do have active "other" lives outside of the forum and help moderate this forum in their spare time throughout the days and weeks.

If you have a problem with a member or Mod follow the proper channels of reporting it.

BKF reserves the right to delete any posts which contain anti-BKF comments or discussion. Any bashing of moderators or administrators, or any of their discussion or actions will also be deleted, and the responsible posting party(s) will be banned. Any public anti-BKF advertising, communication, or posts on another forum will result in permanent bans as well.

All warnings and bans are decided by individual moderators and administrators. Warnings are preferable to bans however, for serious offenses and repeat abusers bans will go into effect. The length of the bans can vary from several hours to permanent.

All messages posted or sent including through PM are the property of BKforum.com.

All BKF users agree not to advertiser on the forum (Niether by posting, private messaging or using your signature). If you are a company/attorney/legal adviser wishing to advertise on the site or sell a product, you must contact the head administrator and inquire about our advertising packages.

All bankruptcy related opinions expressed on BKForum.com are those of their authors and not necessarily of BKF, its staff or representatives.

You agree not to copy any material/post/content from BKF without written permission from our head administrator .

By posting on this forum you agree to these terms and conditions, including any punishment deemed appropriate by moderators or administrators in the event of an offense.

Administrators/Moderators can change these rules at any time without prior notice.
See more
See less

Codebtor and reafformation

Collapse
X
  • Filter
  • Time
  • Show
Clear All
new posts

  • Codebtor and reafformation

    So I think I'm gonna file. Divorce, foreclosure, what a mess. My sister cosigned on a car loan to help me get back on my feet. I'm super worried how this might affect her. I want to reaffirm the car. Hopefully they'll do it. Will my sister's credit get hit if I do this?

  • #2
    Your sister's credit should not be affected as long as the payments are kept current.

    The creditor will definitely agree to a reaffirmation because it benefits only them. You should talk to your attorney about whether a reaffirmation is required in your state/district or whether you can "retain and pay".
    LadyInTheRed is in the black!
    Filed Chap 13 April 2010. Discharged May 2015.
    $143,000 in debt discharged for $36,500, including attorneys fees. Money well spent!

    Comment


    • #3
      Thank you, LITR. I'm actually hoping the trustee will agree to it. Loan is only 4 months old. I owe way more than it's worth. But, payments are low, 269 a month. My attorney isn't thrilled with reaffirming this loan but says its ultimately up to me and i don't want to screw over my sister.

      Comment


      • #4
        What we like to say is that reaffirming is a bad idea, generally. If you can discharge the debt while continuing to pay, then you have the best of both worlds. This is what LITR writes about with the "retain and pay" option which is also known as a "ride-through." If ride-throughs are available in your State/district and/or your creditor doesn't care about reaffirmations, then you should NOT reaffirm.

        Of course, this is just my opinion. You have an attorney and you have your attorney's advice. It is your decision. You may be shocked if the creditor doesn't even request a reaffirmation agreement. I haven't read anywhere that the creditor has sent a reaffirmation for you to sign.
        Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
        Status: (Auto) Discharged and Closed! 5/10
        Visit My BKForum Blog: justbroke's Blog


        I am not an attorney. Any advice provided is not legal advice.

        Comment


        • #5
          Originally posted by Jbenade View Post
          I'm actually hoping the trustee will agree to it.
          It has nothing to do with the trustee. If you and the creditor sign a reaffirmation agreement, it gets filed with the court along with a declaration by your attorney certifying whether or not the reaffirmation is an undue hardship for you. If your attorney certifies it is not an undue hardship, then the reaffirmation will be approved. If your attorney does make that certification, then it is up to the judge to decide weather to approve the reaffirmation. My understanding is that most judges do not like to approve reaffirmations. It is also my understanding that if the judge does not approve the reaffirmation, that you have still satisfied your obligation and the creditor cannot repo the vehicle if you keep making payments.

          Your sister did not file BK and her credit should not be hurt if there is no default on the loan. What does your attorney say about the consequences to your sister if you do not reaffirm, but keep making payments?

          LadyInTheRed is in the black!
          Filed Chap 13 April 2010. Discharged May 2015.
          $143,000 in debt discharged for $36,500, including attorneys fees. Money well spent!

          Comment


          • #6
            My attorney says about what you said, something about the judge can deny the reaffirmation. I guess I'm just being paranoid about my sister's credit. Lawyer says theres a slight chance it could come on her credit, but that its easy to remove since she isn't filing. Also my loan is through a credit union. I bought it at a Ford dealership and I've read that the6 can be nasty abouy repossession even if you are current on payments, which I am.

            Comment


            • #7
              Justbroke, thank you. I'll have to check my state on ride throughs. No request from creditor cuz I haven't filed yet. But I need to before oct 2 as I got a summons from a cc. I'm soooo nervous, but I just need to walk through it.

              Comment

              Unconfigured Ad Widget

              Collapse
              Working...
              X