What to Expect?

[StaciMM]

IF you file BK, reaffirmation is the process of signing an agreement - usually applies to secured debt like house, car, furniture, etc. - where you agree to be responsible for the account after BK. Basically, giving up your BK protection on that account. If you don't sign, but keep making the payments, then the creditor is happy-they don't want your property as they'd have to deal with selling it and could easily take a loss. They would not be able to recover this loss from you-because you filed BK on it.

The pro of reaffirming is the account shows your after BK payments. The pro of not reaffirming, even if you intend to keep it, is that you can change your mind later. Also, if you sign a reaffirmation agreement, you can cancel it within 60 days of signing it.

[StaciMM]

Been there! Stayed w/ my inlaws (who are the GREATEST by the way, my DH can't say the same about my family) for about 6 months shortly after my 1st was born and I lost my job as I hadn't been there for a year yet when I took my maternity leave. True story-the stress built up to a point where my DH & his dad got into a physical fight & were both arrested.

To answer your other question, as I missed it in my 1st response, you can't be forced to sign a reaffirmation agreement.

I pm'd you, by the way!

Heading to get my girs in the bath & off to bed...

LOL -- This is already happening!!

Thanks so much for all your input. I am fairly certain we will still file. Not having any money has been such a strain on our marriage. I can't imagine it won't help to not have this strain any longer.