new here.... have a question about reaffirminga loan on a CH7

[brokewhatsnew]

new here; been doing alot ot searching and reading.

we were in a CH 13; dismissed the CH13 and about to file a CH 7. we are surrendering 2 of 3 vehicles we own.

the one we are keeping has a lean against it (it was used to secure a loan a few years back)

its very important for us to keep this vehicle; how hard is it going to be for us to reaffirm that loan to keep the vehilce from being taken once the CH 7 is filed.

thanks in advance

[JRScott]

So long as it does not put an undue burden on your finances it shouldn't be much trouble I wouldn't think.

[Stilltheone]

So long as it does not put an undue burden on your finances it shouldn't be much trouble I wouldn't think.

I have to agree.

We reaffirmed an Escalade, which we just purchased in November, with a credit union as our lender. They had no problems reaffirming. As long as you're current and you can afford the payment, I can't see any problems.

Good luck!

[AngelinaCat]

I agree with Stilltheone. We have a 2004 Volkwagen Jetta that was paid off at one time, but then we borrowed against it at our CU trying to dig ourselves out of the debt quicksand that we were sinking into. We could pay for it. the hubby's paltry monthly pension payment goes directly toward the loan. We reaffirmed our loan, and have had no real problem, other than paperwork issues that if you search our nicknames 'AngelinaCat', and AngelinaCatHub', you'll get more in depth details.

We just got paperwork from the Trustee earlier this week stating that he intended to abandon interest in our vehicles as being 'too old, or fully secured by liens'. Of course we have to wait 20 days for anyone to file an objection, which should be over with on June 26 or so.

Good luck to you.

[brokewhatsnew]

thanks again