Can they do this??

[shark]

We have a car we are wanting to reaffirm with Wells Fargo. They are reporting on Experian a derogatory entry for "included in Chapter 7 Filing"(cost me a point). They are reporting a "0" balance. We have never been late and continue to make our payments 2-3 weeks early.

They have not bothered to send any paperwork for us to reaffirm the car. Our home lender and one other got us the paperwork right away.

Any thoughts or experience with this one?

[arkienurse]

My attorney said you don't chase the reaffirmations, you only sign them if they send them to you. Though if you don't sign one they could take your car at anytime after the bk, so you may want to hide it.

As long as you are making the payments on time, I am 99% sure that they won't come after the vehicle.

[keepmine]

Arkie, wrong! My attorney said Chrysler is popping just about every car that doesn't sign a reaffirmation agreement even if the judge declines it. So best be vigilant and hide the car until it is safe.

You're the one that's wrong. Arkie's posts reflects the reality of the current economic climate. Nobody wants another repo'ed car to add to the pile. It's the experience of our members that, as long as you stay current, the lender won't bother you.

[dragonnfly]

Hi I have a second mortgage through Wells Fargo and on Experian is is reporting ths same as you state your car loan is. We did reaffirm and our discharge was due on the 1st of Aug. I am waiting to see if it changes soon with the reaffirmation papers being filed and the discharge. If it does not change then I will pursue fixing it. Let us know what happens. Dragonnfly

[arkienurse]

Arkie, wrong! My attorney said Chrysler is popping just about every car that doesn't sign a reaffirmation agreement even if the judge declines it. So best be vigilant and hide the car until it is safe.

so when would it be safe?

[FreshLikeADaisy]

Shark, another thing you can do is contact Wells Fargo directly and specifically ask for information on getting a reaffirmation agreement from them. There's no real need to wait for them to take the first step -- apart from the fact that it's a pain to call and get transferred several times before you can speak with someone that has some knowledge of reaffs.

For what it's worth, I too agree with Keepmine, Arkie, etc. Wells Fargo doesn't want your car, they want your cash, and historically speaking if you don't reaffirm but do make your payments, you'll be fine. But you have to make them ON TIME, because even one late can end the ride-through. I suspect that *that* may be the actual factor behind someone's ride-through coming to an abrupt halt, as opposed to a senseless, kneejerk, EXPENSIVE reaction to a Ch7 from a lender...

In any case, good luck!!!

[AngelinaCatHub]

Greetings 'Daisey. I can only say to the Op, you are right on. D check your mail.

[TEW]

We have a car we are wanting to reaffirm with Wells Fargo. They are reporting on Experian a derogatory entry for "included in Chapter 7 Filing"(cost me a point). They are reporting a "0" balance. We have never been late and continue to make our payments 2-3 weeks early.

They have not bothered to send any paperwork for us to reaffirm the car. Our home lender and one other got us the paperwork right away.

Any thoughts or experience with this one?

Shark that is how they are suppose to report it. Why reaffirm?

[bcoleman]

Wells Fargo will not come after your car, just keep making your payments, i have been in their Repo department many times, and have spoken to that department on several occasions...........i've been consistently 60+ days past due for a long time, if they haven't taken mine i can't imagine they would come after yours..........obviously it's best to play it safe but i don't think you need to be concerned...........hope that helps

PS......i absolutely can't stand WF Auto, please tell everybody you know to steer clear of them if possible.........i realize i haven't been the best borrower based on my payment history, but the way they've handled my situation since i started falling behind on my payments has been absolutely ludicrous.......i don't want to get into too many details but they have been harassing me, and it's absurd..........i can make a payment arrangement with them and they will agree to it, and they will still call me 6+ times every day as if I never spoke to them with the intent to annoy or harass