Honda & Reaffirmation/Repossion????

[cw99]

Does anyone know how Honda is to deal with regarding reaffirmations? We have 2 new vehicles (lawyer originally told us we would be chapter 13 and suggested that we needed car payments for monthly exemptions, etc under plan) and realistically we needed newer vehicles (8 & 10 years old) with 5 years planning on being in a chapter 13 plan and I travel extensively for business. However, turns out we should be chapter 7 instead and have enough exemptions to allow us to cover the value of the cars. Honda obviously wants reaffirmation. Lawyer does not want us to sign. I am really afraid that Honda may repossess them even if we are current on payments.

Does anyone have experience with Honda Finance specifically to see how they are to deal with? Stories about Ford are scaring me.

[wnguyen]

I can only say about my case, as each case is different and I don't know about Honda.

I bought my car from and financed thru Toyota Financial. They DID want me to reaffirm but my lawyer said no. I didn't sign any reaffirm paperwork. Both my lawyer and I called Toyota and asked them if they would repo the vehicle if the reaffirmation is not signed and they said no. So I think it would be in your best interest to call Honda yourself to find out. To make sure, you can also ask your lawyer to call them too. They will always want you to reaffirm but you can choose not to if you don't find it best for you.