fee does not include reaffirmations

[saucey]

hey guys!i was just going over all my paper work and noticed on the retainer that it says that the fee doesnt cover reaffirmations or redemptions.does anyone know what this means?

[Viper]

This is very standard, nothing to worry about.


-Viper

[saucey]

okay.thanks!i almost had a heart attack after i read that.

[lrprn]

hey guys!i was just going over all my paper work and noticed on the retainer that it says that the fee doesnt cover reaffirmations or redemptions.does anyone know what this means?

Just means if you decide to reaffirm one or more of your debts or redeem any of your secured assets as a part of your bankruptcy, your lawyer will charge extra to do that. If you don't intend to do either, then you can safely ignore this part of your retainer.

In case anyone is interested, this legal website does an excellent job explaining bankruptcy reaffirmation and redemption with advantages and disadvantages of each - http://www.debt-relief-bankruptcy.co...ptcy-guide.asp

[saucey]

we do plan on keeping the house and the two cars.do we have to pay extra to do this?

[lrprn]

we do plan on keeping the house and the two cars.do we have to pay extra to do this?

If you are filing Ch 7 (and since you posted your original question in the Ch 7 area, I assume you are), then to keep all of these secured assets, you *might* have to do a reaffirmation or redemption depending on your circumstances. Check with your lawyer to see what's best in your situation.