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Did you reaffirm your auto?

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    Did you reaffirm your auto?

    I’ve read here that reaffirmation is a bad ideal. I did on my auto and the reasoning was it was only 2 years old with low miles and I owed a little less then it worth. I figured I would pay it off and keep on driving it , hopefully through worst years of bk ruining the credit. Also , I don’t have a nice lump sum of cash to buy outright anyway.

    #2
    Don’t want to make this post about me but my situation was similar. I purchased a new car in 2017 and another car in Aug 2019. I filed for BR in Sept 2019, had my 341 meeting in Oct 2019 & should be discharged hopefully the end of this month or next month. I did not reaffirm my car that I got in 2017 and is waiting for my credit union to pick it up. This debt for this car no longer shows on my credit report but my newest vehicle I got in Aug is reporting on my credit as regular on time payments.

    If you are almost done with paying on your car, keep doing so! Reaffirm your car. It always look good on your behalf that you kept them out of BR (which they still will have notation about it). if it’s financed at a credit union or bank. They will want to help you in the long run with other loan products once you get back on your feet especially if you never skipped a beat with payments.

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      #3
      2nd newly purchased car right before BR was reaffirmed.

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