How to reaffirm secured debt?

[bakergrl]

After the 341 is done, when or how do I reaffirm secured debt? Do I call the lender, or do they contact me?

I am pretty sure the reaffirming process is not included in the fees for my BK so I am lost on how to do this on my own.

[Detroit]

I haven't filed yet so this answer is based on what my attorney told me to expect. She said my specific auto lease company will automatically send me a reaffirmation agreement after I file. Regarding the mortgage, I'll have to call the mortgage company's bankruptcy department and ask them to send me the reaffirmation agreement. Again, this is after I file and specific to my particular lenders. Her office doesn't request or otherwise handle them - they come from the lender to me and from me to her. Hope this helps.

[STofSHK]

Hi guys, I am doing a 13 to keep my home, do I have to reaffirm? I'm a little confused on that. Thanxs have a great day!

[liz417]

Hi guys, I am doing a 13 to keep my home, do I have to reaffirm? I'm a little confused on that. Thanxs have a great day!

You may want to start your own thread, you'll get more answers that way Anyway, you can keep your home in a ch 7 too. I hope you aren't filing a ch 13 "just to keep your house"...

[liz417]

After the 341 is done, when or how do I reaffirm secured debt? Do I call the lender, or do they contact me?

I am pretty sure the reaffirming process is not included in the fees for my BK so I am lost on how to do this on my own.

You can reaffirm once you file your petition, usually the paperwork is sent to your attorney and yes, I've heard that sometimes attorneys charge a little more to complete this paperwork. What are you reaffirming?

[STofSHK]

I am doing the 13, because I have been unemployed for two years and collecting unemployment, with this money I was paying my cc(16,000) and my 436.00 car payment. My partner was paying the mortgage and his cc(21,000.) {Plus his car payment of 400.00. Because of our financial situation, we fell behind on the mortgage(by this time my partner's wages dropped about 30%). Then we hired a bogus company to work on a modification (on our mortgage). That fell through, so I started calling them myself. They(G-Mac) got us on a "trial mod" for two months, then it turn into four months. In the meantime I was sending the so-called documents, and calling them at least once a week. They would inform me that they did not receive all the documents, and I would sent them again. The next time I would call, they would ask me for another document. you get the idea. We went back and forth for five months. I finally got fed up. I went to a lawyer. I originally went because I did not want to have these debts' hanging over me if I was foreclosed on. To my pleasant surprise(the man upstairs works' in mysterious ways) I was informed I could strip my second loan(which we were current on 55,000 at 486.00 a month) because our house was upside-down and we could keep our home. The mortgage was in my name, so I was the one who had to file. We are not married. So there is my long answer to your short question lol. I did file my petition already and he has not mentioned anything about reaffirming. My 341 is on April 8, 2010.

Thanxs Have a wonderful day!

[STofSHK]

By the way, have no idea how to do my own thread.

[Mensa1]

By the way, have no idea how to do my own thread.

Go the main screen of this section where you posted your question, and look at the top left hand side of the page, right above where the link is that says "ANNOUNCEMENTS", then look for the toggle button labeled "NEW THREAD". Click on that and away you go.

[STofSHK]

Thank-You Mensa1. I appreciate it.