Post Chapter 7 discharge

[trophy]

Okay here goes,,, I filed for chapter 7 last spring, I was dicharged in June.

I didn't sign any reaffirmation agreements. On the court documents my lawyer and I checked to reaffirm my mortgage and a boat loan.

I am still current on both loans. On my credit report report it is reporting that my mortgage was included in BK, the boat loan loan isn't reporting the BK, but is not reporting payments. Being that "reaffirm" was checked on bankruptcy papers, does that make it reaffirmed?

I am considering giving the boat back to the bank but don't want to be liable of the difference of loan to value. Does it make sense? I know the bank tried to get me to reaffirm the boat loan, but I wouldn't.

Any help is greatly appreciated.

[keepmine]

Checking the reaffirmation box on the statement of intentions is just that-your intention at the time.
Unless, you signed a reaffirmation agreement and it was properly filed by the court, you have no liability for any deficiency balance.

[TXskyblue]

Checking reaffirm on your petition means nothing. For a reaffirmation to happen, you have to specifically sign a reaffirmation agreement. You would know if you had signed one.

FWIW, I (well, my attorney) checked reaffirm on both my car and my house. I did not reaffirm either.

[trophy]

Thank you so much for the clarification. I am positive I didn't sign the reaffirmation agreement. What would be the best way to return the boat? Do I call the bank or just stop paying the loan if that is my final decision? I tried to get information from pacer but of course the documents won't download to view.

[keepmine]

If you want to return it, I'd just call the bank and make an appointment for a repo company to pick it up.

[LadyInTheRed]

If you have decided for sure that you don't want the boat, stop paying. It's up to you whether to call the bank and invite them to come pick it up or continue to use it until they decide to take it.

[trophy]

Sorry to bother everyone again,,, I spoke to my attorney today. He is claiming that I can not just give the boat back. If I do I will be liable for the loss the bank takes and they will pursure it. I can't understand how this is possible. I never signed an agreement after I filed with the exception of checking re affirm on my bankruptcy papers. He told me that it has been too long since my discharge. If anyone can PM me a PA lawyer that wouldn't agree with this I would love to talk to him to know my options,,,,,,,

[jst4f]

Unless the BK judge agreed to the reaffirmation, you are not liable to pay the loan and will not be liable for the bank loss...period. Not sure why your attorney is telling you otherwise. However, your credit report may be hit with a repo or foreclosure indication ( not sure what it is called for a boat) which is legal and correct.

[trophy]

Not sure what you mean. How would one find out if a judge agreed to the reaffirmation. I had my meeting with the trustee and it was checked to reaffirm on the court papers but no reaffirmation aggreement was signed.

[AngelinaCat]

All of this information should be available in your PACER account.

I know you said you couldn't download or print something. You must have been doing something wrong. Each highlighted (underlined) blue object is a link that will take you to a PDF file. It will cost you each time you open up such a document to read it, and then a second time to print it. Instead, once you open it up, save it to your own hard drive.

[IBroke]

However, your credit report may be hit with a repo or foreclosure indication ( not sure what it is called for a boat) which is legal and correct.

Hmm, I never experienced that a vehicle/boat-repo is considered a public record. On a foreclosure of real estate, however, you are absolutely right.

[trophy]

Okay, I finally got to view all my docs on pacer and saved them as AngelinaCat suggested. There is no paper work stating that the judge allowed a reaffirm of anything or papers stating that I signed one. I am so confused as to why my attorney would tell me that. I think I may need to find a lawyer I can trust. I have always heard that you can not be held liable after the discharge. Even years later. I didn't reaffirm my home either because I did not want to be locked down with no where to turn.

[LadyInTheRed]

He told me that it has been too long since my discharge.

That makes no sense. The amount of time that has passed since your discharge is irrelevant. What kind of attorney is this?

If anyone can PM me a PA lawyer that wouldn't agree with this I would love to talk to him to know my options

You do not have enough posts to receive PMs. If you call a few bankruptcy attorneys and ask, I'll be surprised if you find a single one who will tell you that you can be held personal liable for the deficiency on a loan that was discharged in bankruptcy because you surrendered the collateral to long after your discharge.

[mynameainttracy]

Have you tried to sell the boat? I was in the exact same situation waaaay back and I sold the boat, paid the note off and that was the end of it. I know it isn't always that easy but is letting it go back to the bank the last resort?

[tobee43]

if you listed the boat and did not reaffirm with the lender and stop paying let them just come and get it. while your at it get another lawyer who doesn't work for the lender, or knows what they are doing.

again, if you listed the boat, and kept up payments for a while, but never re-affirmed the loan you owe them nothing. we surrendered a car and just worked it out with the lender and to this day our CC says surrendered not repossessed. just call them tell them you don't want it and come and get it.

do NOT sell it, there could be legal ramifications some how if you did unless you sold it for what you owe and pay off the lender. best of luck.