Update on furniture loan--American General Finance

[Stilltheone]

Hi all!

I know there were a few of us that had loans through American General, so I wanted to post an update about our situation.

We bought furniture from them, totalling $1000 in December 07. (filed March 08)

After we filed BK, we got reaffirmation papers in the mail from them for more than what the furniture was worth. We never signed them and let it go.

**They NEVER came after us or the furniture and it has been 60+ days since our discharge.***

Good luck to all!

[jessegirl]

did they show up for the 341? what does your attorney say about this?

[Martha13]

Hi Stilltheone...thanks SO much for posting this, I was JUST wondering about the outcome of others in the Am Gen Fin boat! I have a car loan I am reaffirming, and our atty's office had emailed the paperwork to me saying my dh hadn't signed, and could he please do so..well, as I went to explain to them he didn't need to sign because he wasn't on the original loan, I noticed they had mixed the paperwork up, and had 1/2 of the Am Gen reaffirmation agreement (which in NO WAY was I signing) and 1/2 of the credit union paperwork for the car, which I did sign. I almost had a heart attack! I explained all this to them and then they said oh, just ignore that (not oops, we screwed up, heaven forbid...) and that they'd sent a letter to Am Gen advising I was not reaffirming, that I was surrendering...so I've really been wondering lately if they're going to actually pursue it! Whew...I mean seriously, they can have the dang couch and chair if they really, REALLY want it, but I hope they won't bother! Thanks again for the update--I'll keep you posted too!!

[Stilltheone]

did they show up for the 341? what does your attorney say about this?

Hi Stilltheone...thanks SO much for posting this, I was JUST wondering about the outcome of others in the Am Gen Fin boat! I have a car loan I am reaffirming, and our atty's office had emailed the paperwork to me saying my dh hadn't signed, and could he please do so..well, as I went to explain to them he didn't need to sign because he wasn't on the original loan, I noticed they had mixed the paperwork up, and had 1/2 of the Am Gen reaffirmation agreement (which in NO WAY was I signing) and 1/2 of the credit union paperwork for the car, which I did sign. I almost had a heart attack! I explained all this to them and then they said oh, just ignore that (not oops, we screwed up, heaven forbid...) and that they'd sent a letter to Am Gen advising I was not reaffirming, that I was surrendering...so I've really been wondering lately if they're going to actually pursue it! Whew...I mean seriously, they can have the dang couch and chair if they really, REALLY want it, but I hope they won't bother! Thanks again for the update--I'll keep you posted too!!

Jesse-

Nope, American General did NOT show up at our 341 meeting.


Martha--

My lawyer reminded me that it costs alot of time and $$ to pursue collateral.....When you have a car or home, it's obviously worth it for the finance company to pursue it. But, when we're talking about $1000 worth of furniture, it can cost that to get judgements and warrants. PLUS, the furniture is now 9 months old. Are they going to get $1K out of USED furniture? Definitely not. So, it's not worth their time or $$ to get their furniture.

Good luck to you!