Late payments during 'ride-through'

[Michigan1951]

And, if they do what would be the alternatives today? I haven't read where people actually did do reaffs and have things go wrong to report about it.

[OhioFiler]

And, if they do what would be the alternatives today? I haven't read where people actually did do reaffs and have things go wrong to report about it.

Life goes on exactly like it would had you defaulted on the loan before the bankruptcy. The lender has all the legal recourse that existed before you filed. The only difference is you have no protection from the creditor in the form of bankruptcy. The creditor still has to go through the process of suing you to obtain a judgment. The vehicle is subject to repossession under your existing state laws.

[Chowder]

I haven't read where people actually did do reaffs and have things go wrong to report about it.

Then you're not looking very hard. There's lot's of posts here saying they wish they hadn't.

[aces67]

And, if they do what would be the alternatives today? I haven't read where people actually did do reaffs and have things go wrong to report about it.

Also if you file BK and reaffirm and then can't make the payments the creditor will be even more interested in coming after you b/c they know you can't file BK again and charge them off.

[Michigan1951]

Where is the threads stating such then? Point me to it.

Then you're not looking very hard. There's lot's of posts here saying they wish they hadn't.

Let me re-phrase my question?

I wonder if a debt settlement company could help them after the bk is discharged/closed.....and the reaff goes haywire.
Maybe someone on this forum has experienced this beyond just doing a reaff and it tanks...........to tell about their experience.

Sometimes it is the only way to go as to do a reaff. It depends on the state and district. And, how sound your income is, and if the debt is worth it to reaff. That much I do know.....

If you don't know the answer, that is okay, nobody is judging you on your knowledge or if you can't find the answers quickly.

Now you run off and have yourself a great evening, Corn Chowder..

[Chowder]

Let me re-phrase my question?

I wonder if a debt settlement company could help them after the bk is discharged/closed.....and the reaff goes haywire.

They can certainly try. The only option off the table is a similar BK.