reaffirming my vehicles

[WAITING]

We have filed Chapter 7 and live in California. We have been asked to reaffirm our motorcycle with our Credit Union. We owe 23,000 on it and it is worth according to Kelly Blue Book 16,000. We own a Scion XB also and we owe 13,000 and it is worth 11,000. We are not behind in any payments for either vehicles. Should we reaffirm and what are the odds of them repossessing our vehicles if we stay current with our payments? I would think it would be worth more to them to have the monthly payments coming in than to try to sell them for current market value. Please advise.
We also have not received any reaffirm agreement for the Scion. That loan is thorugh Capitol One Auto Finance.

[keepmine]

CU's and bk don't mix. Just no telling what they'll do. Personally, I'd not sign a reffirmation upside down by $7K. If they want it, let 'em have it.

[WAITING]

I don't want them to have it. The motorcycle is our only source of sanity. I am getting the feeling from what I hae been reading that Credit Unions have a tendency to take your vehicle even if you are up to date on your payments...maybe I shoud reaffirm with them.

[Cali]

So being that much upside down doesn't matter to you? Will you be able to afford the payments if something happens after your BK is discharged?
The trustee might say you have to let one go.

I don't want them to have it. The motorcycle is our only source of sanity. I am getting the feeling from what I hae been reading that Credit Unions have a tendency to take your vehicle even if you are up to date on your payments...maybe I shoud reaffirm with them.

[Minnymouth]

The credit union has asked you to sign reaffirm papers to guarantee that you pay for the motorcycle. Then if you do default on the payments you would be responsible for any outstanding balance owed above what it sells for.

Most credit unions either have you reaffirm, or they pick up the motorcycle. Some will not just let you continue to make payments.

If I was extremely upside down on it, I would probably just let them take it, until my financial problems are solved and I could afford another at a better rate and cost.

Also the Trustee just might say.... it has to go.....