what should i do

[B65]

got this from attorney about the car...

I"n response to your questions about reaffirmation on the automobiles, your schedules were done saying that your original intent was to reaffirm. Please call and make an appointment to come in and discuss these issues. If you do not believe you will be able to reaffirm and/or the Judge would not approve a reaffirmation, you will have to amend your schedules to state your new intentions. Please call and we will schedule an appointment for you. "


we had never said we would reaffirm we just said we would just keep paying... i do not want to do a surrender as they could then say we have more available income.. and i need a car..i do not want that... so looks like i will be forced to reaffirm but do it ourselves with a judge as I cannot afford to pay the lawyer to do it for us..... more stress... i hope that will not delay discharge if the judge is busy or if he says no..will that delay it?? we are -700 on our sch j so likey he will say no....... did anyone else do this?? so long as the paerwork is filled in, can the date with the judge be set after discharge and/or close?

[Help!]

got this from attorney about the car...

I"n response to your questions about reaffirmation on the automobiles, your schedules were done saying that your original intent was to reaffirm. Please call and make an appointment to come in and discuss these issues. If you do not believe you will be able to reaffirm and/or the Judge would not approve a reaffirmation, you will have to amend your schedules to state your new intentions. Please call and we will schedule an appointment for you. "


we had never said we would reaffirm we just said we would just keep paying... i do not want to do a surrender as they could then say we have more available income.. and i need a car..i do not want that... so looks like i will be forced to reaffirm but do it ourselves with a judge as I cannot afford to pay the lawyer to do it for us..... more stress... i hope that will not delay discharge if the judge is busy or if he says no..will that delay it?? we are -700 on our sch j so likey he will say no....... did anyone else do this?? so long as the paerwork is filled in, can the date with the judge be set after discharge and/or close?

If you're -$700 on J, why would you be forced to reaffirm? If you didn't have the car what would your disposable income be on J? I'm against reaffirming because I think it's a way for banks to trap you into financing something for more than it's worth (again!).

[B65]

my lawyers

say that our scehdules say we were going to reaffirm(at the time we thought that meant to just continue paying) and you either have to surrender the car or reaffirm...no ride throughs in this state i guess...

car payment is 533 a month as we did it for a shorter term rather than alonger term to pay.... so if you take that offf the -700 that then leaves us only a small amount neg.. to close for my liking to a ch 13.

[StartingOver08]

Well, I called the BK dept of both of my vehicles (one is my husbands, but I am on title and the loan so it was included in the BK). I was able to work with the CU and negotiate a reaffirmation that was acceptable. I signed off and it was filed by the court - BUT I only owe about $8k on the vehicle and the payment is very reasonable now and is only for 17 more months.

The other vehicle's lender, Independence Bank, was awful. They sent me a reaffirmation, they would not negotiate one item - not the rate, not the amount, NOTHING. I owed $19.5k and the car was only worth about $12k. I am DONE paying for value that is not there. I actually called the BK dept at that bank about 3 times during the 60 days to try to work out something for the car. I knew that they were being totally unreasonable when on the third call I finally asked if they would even move the due date and the answer was NO...so, on Dec 31 I signed a motion to surrender the car. By that time I had been declared a no asset CH 7. The motion was filed with the court and showing on PACER by Jan 2 2009. I was discharged Jan 5.

Today I went and bought another vehicle, paid $7k. I only owe $3900 and will be paid off within 12 months or less. Tomorrow I call the lender and tell them to pick up their car.

My point is: YOU make the timing work for you - not the lender. You know what the timeline is - get your discharge and then surrender the vehicle or do a ride through if you decide the car is not underwater/upside-down. This is your opportunity to get a fresh start - take advantage of it. Good luck.

[TEW]

got this from attorney about the car...

I"n response to your questions about reaffirmation on the automobiles, your schedules were done saying that your original intent was to reaffirm. Please call and make an appointment to come in and discuss these issues. If you do not believe you will be able to reaffirm and/or the Judge would not approve a reaffirmation, you will have to amend your schedules to state your new intentions. Please call and we will schedule an appointment for you. "


we had never said we would reaffirm we just said we would just keep paying... i do not want to do a surrender as they could then say we have more available income.. and i need a car..i do not want that... so looks like i will be forced to reaffirm but do it ourselves with a judge as I cannot afford to pay the lawyer to do it for us..... more stress... i hope that will not delay discharge if the judge is busy or if he says no..will that delay it?? we are -700 on our sch j so likey he will say no....... did anyone else do this?? so long as the paerwork is filled in, can the date with the judge be set after discharge and/or close?

B65 this is what I would do. I would ask my lawyer to give me a detailed explanation as to how reaffirming would be in my best interest. Then please come back and tell us what he tells you. I really would love to hear what he has to say.

[Woah]

I'm curious too. This is a big topic in our house right now. Our lawyer signed our reaff. papers and we have to decide if we want to. His paralegal thought we had to either reaffirm or surrender. we are -1300 so that won't affect anything. I'd like to just ride thru, but don't know if that is allowed in Missouri? The lawyers office is being very vague. Like they haven't ever had this come up. Has anyone done it lately in MO? I'm in the eastern district.

[JRScott]

I'd at least look at the reaffirmation agreement. In it I would look for a cram down to current value and lower interest.

If you are negative more than the value of the car on your schedules I wonder why the judge would approve of it. It means by your schedules you don't have the money to pay for it and thus it is an undue burden (I also wonder why a lawyer would sign such a paper).