Auto reaffirmation and proof of "no hardship"

[danaf]

yes- thanks for clarifying for me.

[jec]

reaffirm

I dont know how to verify this but i have been told that reaffirming does not help your credit

you can only reestablish credit with new credit after the bankruptcy

Dont reaffirm and just make the payments

Remember if you have a problem down the road there will be nothing you can do if you reaffirm that is why the creditors push it so hard

[lrprn]

I dont know how to verify this but i have been told that reaffirming does not help your credit

Reaffirming can help your credit *IF* your lender reports your post-bk on-time payments to the credit agencies. Luckily, most do.

you can only reestablish credit with new credit after the bankruptcy

Not true. New credit helps if you make the payments on time. Old credit that reports on-time payments helps too

Dont reaffirm and just make the payments.

This works well if you live in a state that won't allow repossession if your payments are on time. Otherwise you are taking a risk (although it's a small one) not reaffirming.

We decided to take that risk - we live in a state that doesn't allow repossession with on-time payments. On the advice of our lawyer, we didn't reaffirm any of our secured loans when we filed Ch 13. We're 15 months in....so far, so good.

[whatamess]

We decided to take that risk - we live in a state that doesn't allow repossession with on-time payments. On the advice of our lawyer, we didn't reaffirm any of our secured loans when we filed Ch 13. We're 15 months in....so far, so good.

The lawyer never told us if NJ was one of those states. Ive tried to google about it with no luck. Anyone know?
WAM