during a chapter 7...the lender provides an option to reaffrim an auto loan even if behind? i have a car financed through hsbc auto... they said they will work with me, however i have not retained the attorney yet. thanks for advice! the board is very helpful
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huh
when you file bk and chose to keep your car, you will have a re- affirmation agreement. the lender will mail or fax a letter to your attorney, or to you.
Now you can call them and take it from there, or fax them. same procedure with your lawyer if you retained a lawyer they do the same.
Lets say i have a client who wants to re affirm the car, the auto lender will send me a letter or documents about the agreement
the rates of the interest. usually it goes down 1 percent.
but the payment is the same. in most cases. then if you agree it will tell u in the letter on what do u have to do. sign that u agree, and send it back to them they might ask u for this and that like the car notes and insurance . something like that. the that.
it will say your lawyer may send them back the signed paper, or you may do it yourself.
re affirmation occurs after you filed not before.
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