Reaffirming Vs Non-Reaffirming

[kuzam2]

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.

[tobee43]

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.

[IHateToBeEmo]

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.

[despritfreya]

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.

[lilacs80]

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?