OK, GF,.......... I don't know if you can reaffirm or not. I'm not on that side of BK. I haven't filed yet and reaffirmation won't be an issue for us. We don't intend to keep our house. We'll let it go in the BK. And we sold our truck to pay the IRS our taxes. So we don't have any secured debt to reaffirm.
I don't know how reaffirmation works. Whether you can or cannot reaffirm if you're behind on your payments.
I do know when you call CW, they are gonna ask you a lot of financial questions. They did with me. They asked how much Hubby's gross and net is each month. How much our rent is. How much we pay for this and that. How much was left over at the end of the month. CW determined we did not meet their criteria to even get to talk to the Work Out department as we have no means to repay the debt.
I wish you better luck in trying to talk with Countrywide than we've had.
Unlike you, we don't intend to pay. So you may be able to work out something where they let you pay a little extra each month until you make up the arrears. Figure out what you can and cannot do before you call them. Have a plan of action already laid out that you can present in your conversation
We haven't heard anything about Foreclosure from CW or our investor yet. And we've missed 3 payments so far. So possibly, CW won't move very fast with you as well.
Here's a link about CA Foreclosure laws:
http://www.stopforeclosure.com/Calif...losure_Law.htm
It appears that CA has non Judicial Foreclosure. I'd guess since you got a letter notifying you of intent to accelerate that you have a "Right to Sale" clause in your mortgage.
Since you took the Cash Advance so close to filing, Chase might possibly have a good case for their dispute. Be honest. Tell the Judge the same thing you said here. From what I read, you didn't know, or plan to file BK when you took the Cash Advance. So just tell the Judge that.
I would think that all your other debts will be discharged on April 3 since no other Creditor is disputing your BK with them. Keep in mind that even tho BK is blanket for you, it's line of credit by line of credit for the Creditors. So just because Chase is disputing doesn't mean the other debts won't be discharged.
The Trustee likely won't close your BK until your Adversarial with Chase is settled.
Maybe others will comment if that is not correct.
I don't know how reaffirmation works. Whether you can or cannot reaffirm if you're behind on your payments.
I do know when you call CW, they are gonna ask you a lot of financial questions. They did with me. They asked how much Hubby's gross and net is each month. How much our rent is. How much we pay for this and that. How much was left over at the end of the month. CW determined we did not meet their criteria to even get to talk to the Work Out department as we have no means to repay the debt.
I wish you better luck in trying to talk with Countrywide than we've had.
Unlike you, we don't intend to pay. So you may be able to work out something where they let you pay a little extra each month until you make up the arrears. Figure out what you can and cannot do before you call them. Have a plan of action already laid out that you can present in your conversation
We haven't heard anything about Foreclosure from CW or our investor yet. And we've missed 3 payments so far. So possibly, CW won't move very fast with you as well.
Here's a link about CA Foreclosure laws:
http://www.stopforeclosure.com/Calif...losure_Law.htm
It appears that CA has non Judicial Foreclosure. I'd guess since you got a letter notifying you of intent to accelerate that you have a "Right to Sale" clause in your mortgage.
Since you took the Cash Advance so close to filing, Chase might possibly have a good case for their dispute. Be honest. Tell the Judge the same thing you said here. From what I read, you didn't know, or plan to file BK when you took the Cash Advance. So just tell the Judge that.
I would think that all your other debts will be discharged on April 3 since no other Creditor is disputing your BK with them. Keep in mind that even tho BK is blanket for you, it's line of credit by line of credit for the Creditors. So just because Chase is disputing doesn't mean the other debts won't be discharged.
The Trustee likely won't close your BK until your Adversarial with Chase is settled.
Maybe others will comment if that is not correct.
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