Will I be given the option to reaffirm?

[karibaa]

On the Statement of Intention, I am asking to retain and pay for my car and home. If the creditor rejects this, will I be given the option to reaffirm? I am current on both payment, and the equity in both is exempt.

[justbroke]

It's difficult to answer with an absolute answer but we can surely speculate on two possible outcomes. Of course, the first outcome is that no one objects to the "retain and pay" and you receive a discharge of that debt by using the "ride-through" method. If there is an objection, you should be afforded the opportunity to reaffirm the debt.

In some Districts, the Trustee may objection to an entry other than Redeem, Reaffirm, or Surrender on a Statement of Intentions. If anyone complains then it is usually the creditor. If you're dealing with a credit union or small bank, it's more likely that you'll need to reaffirm or at least be pressured to reaffirm.

[karibaa]

Thanks for the response. I guess I'm just worried that if I choose retain and pay, I won't have the option to reaffirm if needed and vice versa. I don't mind reaffirming.