when do you know if the bank will reaffirm?

[95kindebt]

Do you go into it blindly, or do you have the choice to reaffirm, give it up, or walk away from the BK? Is it something the attorney negotiates? The house is the only reason we would consider chapter 13.

[AngelinaCat]

We reaffirmed a car loan and an overdraft loan with our CU.

The home is part of a life estate and is free and clear, except for property taxes.

[95kindebt]

What is a "life estate"? and how is it free and clear when we owe 198k on it?

[justbroke]

Do you go into it blindly, or do you have the choice to reaffirm, give it up, or walk away from the BK? Is it something the attorney negotiates? The house is the only reason we would consider chapter 13.

You usually know somewhere around the 341 Meeting. The reason is, that those reaffirmations need to be noticed by the Court (at least a date set for hearing) before discharge (or 60 days after the first 341 Meeting). I guess your lawyer could poke the lender, but you usually don't know the lender's position, until you file. That's because, they usually have no clue that you're filing, so aren't prepared on what terms they'd reaffirm.