Motorcycle loan and reaffirming with Redwood Credit Union

[Fruitcake]

My husband and I just got through our Meeting of the Creditors meeting in court. My attorney is wanting an decision on our reaffirming our motorcycle loan with Redwood Credit Union.

Has anyone out there worked with Redwood Credit Union before on reaffirms? We would rather not reaffirm, our payments are current and we have no problem paying them. We are just afraid that if we don't reaffirm they will reposses. The value is around 17,000 and we owe 23,000. We have no other accounts with them, just the vehicle loan. Need advice on what to do. Please help.

[lrprn]

Credit unions as a whole tend to be less forgiving in bankruptcy than banks. Whether yours will be ok with you not reaffirming your asset is impossible for a bunch of well-meaning strangers on the internet to say. Did you ask your lawyer what his/her experience has been with this particular credit union with other cliens in your situation?

[biotechsolution]

My husband and I just got through our Meeting of the Creditors meeting in court. My attorney is wanting an decision on our reaffirming our motorcycle loan with Redwood Credit Union.

Has anyone out there worked with Redwood Credit Union before on reaffirms? We would rather not reaffirm, our payments are current and we have no problem paying them. We are just afraid that if we don't reaffirm they will reposses. The value is around 17,000 and we owe 23,000. We have no other accounts with them, just the vehicle loan. Need advice on what to do. Please help.

Since you owe more than it's worth my guess is there would be
no reason for them to reposses. My belief is sometimes you are
protected by your state laws has to repossession if you payments are
current for extended periods of time. If your loan is brand new I'm
not sure how it works.