Not Showing up for reaffirmation hearing?

[apathetic]

Hello all. I have a question regarding a reaffirmation hearing for my truck. It is scheduled for october 4th. What happens if I don't show up? Will it affect my discharge date at all (october 4 th is also coincidentily my 60 day mark.)? It is a joint loan and I intend to pay it back regardless of the reaffirmation.

Thankss for any advice.

[alaskathryn]

If you don't show up the reaffirmation will be denied. What the creditor decides to do after that is anyone's guess.

[btbeme]

Unless you have cash ready at hand to pay in full about three days after discharge, I'd show up. The creditor will likely make a grab. Just a guess, but more and more auto financers are grabbing cars nowadays. The market for used cars is hot, used cars are pricing higher than in the last two years, and used car sales and auctions are doing huge business.

[apathetic]

Unless you have cash ready at hand to pay in full about three days after discharge, I'd show up. The creditor will likely make a grab. Just a guess, but more and more auto financers are grabbing cars nowadays. The market for used cars is hot, used cars are pricing higher than in the last two years, and used car sales and auctions are doing huge business.

Just to clarify, this car is joint with my wife. I filed individual CH 7, she was not included. We have never missed a payment, and will not be missing any.

Im just trying to figure out how/if it will prolong my discharge if I don't show up.

Thanks.

[AngelinaCat]

You do not need to show up. As long as you are current with your payments, and on time with them, there should not be a problem. You should not have even tried for a reaffirmation, unless it was a requirement of the lender. And, no, it will not affect the discharge.

Good luck to you.!

[apathetic]

You do not need to show up. As long as you are current with your payments, and on time with them, there should not be a problem. You should not have even tried for a reaffirmation, unless it was a requirement of the lender. And, no, it will not affect the discharge.

Good luck to you.!

Hi AngelinaCat, thanks for the reply and your clarifying the discharge item.

The only reason I agreed with my lawyer for the reaffirmation is because my lawyer said it would "improve my credit rebuilding process by having an account survive". Is there any truth to this? The reason I don't want to go is because its going to be an extreme pain to make it on the date the court provided.

Thanks again.

Is this even

[AngelinaCat]

No matter what you do about the reaffirmation, the fact is that you will have a BK on your credit records, that will likely last for 10 years. The best possible thing you can do is to keep making the payments, in the full amount, and on time. That steady pattern there, is your best advocate for improving your scores.

I don't know how old or young you are, but I recommend taking this BK experience and learn to live on a 'CASH ONLY' basis.

[angelasdad]

There still is a possibility that the finance company will repo your vehicle, regardless if you are current, you co-signer and your intentions, unless you reaffirm. The debt is still included in your BK, and discharged. Make sure it is the best decision to reaffirm, and if you intend to keep the car, reaffirm. Not sure of its impact on your credit, because the BK will already affect your rating, but on your credit report it will show "reaffirmed and pays as agreed" as opposed to "$0 balance, discharged in BK". In the long run it'll keep that positive trade line on your report.