Reaffirm

[nature]

Mortage bank send papers to reaffirm today but they also r the ones who hold my note on my car and they did not send reaffirm papers on my car... I signed it for the house and i took it to lawyer`s office and i asked and all she said was if they want u to reaffirm on u car they will send papers.. Is this normal?

[StaciMM]

The 2 loans most likely are not related in any way. Probably not even handled by the same department. If you want to reaffirm, you can ask them to send a reaffirmation agreement.

Any reaffirmations must be on record w/ the court by discharge.

[nature]

StaciMM.. Could u tell me what it means if i don`t reaffirm car.... I only owe 4 payments on it..basically around 2000.00

[StaciMM]

If that is the case, I'd say reaffirm.

If you don't reaffirm, and happened to end up in a situation where you couldn't make the payment, you could tell them to pick up the vehicle and you wouldn't have to finish paying it off.

Since you are so close to paying it off, though, you might as well reaffirm. That way, the account should report as a positive trade line rather than a derogatory "Included in Bankruptcy".

[Lafiler]

If that is the case, I'd say reaffirm.

If you don't reaffirm, and happened to end up in a situation where you couldn't make the payment, you could tell them to pick up the vehicle and you wouldn't have to finish paying it off.

Since you are so close to paying it off, though, you might as well reaffirm. That way, the account should report as a positive trade line rather than a derogatory "Included in Bankruptcy".

I have two cars and I've never late to pay for them up to today. After 341 meeting on Oct 3, I requested the reaffirmation letter or form to the loan company, but I've not received the letter until today. What should I do? Do I need to call again?

[StaciMM]

LAFiler-yes. If you want to reaffirm, you're running low on time. You could be discharged at any time.

[Lafiler]

LAFiler-yes. If you want to reaffirm, you're running low on time. You could be discharged at any time.

"If you want to reaffirm, you're running low on time." Can you explain more? Sorry about my poor English!

If I don't reaffirm two cars, what happen? Is Reaffirmation related to the discharge date, or is the loan coampany going to take my cars even I have paid on time?

[StaciMM]

If you don't reaffirm, keep VERY good records of your payments. You should be able to keep the vehicles as long as your payments are always on time. If at some point, you're not able or don't want to keep one or the other, you can call the creditor and arrange them to pick it up.

If you do officially reaffirm, you accept responsibility for the account post-BK. The creditor would generally report your payments.

[Lafiler]

If you don't reaffirm, keep VERY good records of your payments. You should be able to keep the vehicles as long as your payments are always on time. If at some point, you're not able or don't want to keep one or the other, you can call the creditor and arrange them to pick it up.

If you do officially reaffirm, you accept responsibility for the account post-BK. The creditor would generally report your payments.

Thanks a megamillion!