Forum Rules (Everyone Must Read!!!) (updated: 04/28/2015)

Welcome to the Bankruptcy Forum. Bankruptcy (BK) Forum is known as and will be referred to as BKF hereinafter. In order to ensure a long term success of our vibrant community, we have established certain rules and guidelines to which everyone must adhere to. Please take your time to carefully read our rules, before you start to participate in the community.

Things you agree to do: (BKF) users agree to use the search function before starting a new thread. This prevents duplicate discussions and allows for better organized topics.

All BKF users agree to read the sticky posts which may be available at the top of a forum page. These Sticky posts often contain valuable information. They may also outline more rules and guidelines specific for that particular forum, stickies are put in place by that forums moderator(s) or admin(s).

Things you agree not to do:

All BKF users agree not to call people names or write a post simply to make a personal attack, or get a negative reaction; this behavior is not allowed on our forum. The use of derogatory language aimed at anyone will be severely dealt with. There is no need to agree with each other, or to even like each other. However, by signing onto you agree to treat each member and guest with the respect they deserve. No threats or personal attacks will be allowed.

All BKF users agree not to discuss, engage, or encourage any behavior or activity which violates the law. Discussion of drugs, violence, murder, theft, vandalism, fraud or any other issue which could be used to help individuals break the law is strictly forbidden.

All BKF users agree not to "bump" old threads, unless there is a specific benefit to the community by doing so. But in most cases, please don't post in very old threads, instead start new threads.

All BKF users agree not to attempt/use another members account. It is against BKF rules to use any account other than your own. Impersonating another member will result in an immediate ban. It is also against the rules to open more than one account in your own name without permission from a moderator or administrator. If you have been banned for any reason, it is against the rules to open another account. If you were banned temporarily and you are caught using another account you will be banned permanently. Choosing a moniker which is similar in either sound or spelling as a moderator or administrator is strictly forbidden.

All BKF users agree not to private message any moderator, admin, or other member with questions related to their personal circumstances (Questions about the forum or issues with the forum are ok). This forum only works when members share their experience and insights with everyone.

Things you agree not to post:
All BKF users agree not to post any derogatory/racist/or sexist remarks. This includes attachments, links and all information contained within posts, signatures, and avatars, failure to comply with this rule will result in a permanent ban.

All BKF users agree not to post any copyrighted or trademarked information without the express written permission of the owner(s) / proper citation of source.

All BKF users agree not to post any real names, addresses, telephone numbers, email addresses, social security numbers, or any other personal details (their own or other people's).

All BKF users agree not to post links, pictures, attachments, videos, or the like of pornographic content, objectionable material or extreme violence, whether cartoon or real.

All BKF users agree not to use BKF for advertising purposes without a written contract between yourself/company/agent and the administration of BKF. Blatant advertising will result in a ban.

All BKF users agree not to spam the forums. Spam includes but is not limited to posting erroneous, non-relevant-useless, off-topic, or meaningless posts. Spam may also include posts which contain no text, or large areas of blank space between lines. Simply posting emoticons without text is considered spam. BKF is the largest bankruptcy message board and all the content is intended to help other users. Please help us improve the quality of our forum by making sure that your posts are well-worded, spell checked, grammatically correct and syntaxed.

Regarding actions of moderators and administrators:

The forum is no place to air out your opinion or be judgmental of our staff and its capabilities.

All BKF users agree not to abuse or mistreat moderators or administrators. It is against BKF rules to post any information regarding bans or any other action taken by a member of the moderating or administrative team. If you wish to discuss bans or warnings please do so via PM. To place a complaint against a moderator, send a PM to a super moderator. All Moderators are equal, any decision made by a moderator must be adhered to. If a moderator tells you something you do not like, do not go to another moderator looking for a different answer. If you are caught doing this you will be banned. The moderators work as a team and respect the decisions made by their peers and will help enforce them unless an administrator tells them differently.
If you have an issue with how the forum is run, then notify one of our administrator and we will look into the situation. We have in the past and still do appreciate any input that you offer this forum. But critical input and/or judgmental postings towards the staff will result in you getting banned.

Should you find a thread offensive or out of line, then notify a Mod in a PM so they can evaluate the situation and do the action deemed necessary.

All moderators do have active "other" lives outside of the forum and help moderate this forum in their spare time throughout the days and weeks.

If you have a problem with a member or Mod follow the proper channels of reporting it.

BKF reserves the right to delete any posts which contain anti-BKF comments or discussion. Any bashing of moderators or administrators, or any of their discussion or actions will also be deleted, and the responsible posting party(s) will be banned. Any public anti-BKF advertising, communication, or posts on another forum will result in permanent bans as well.

All warnings and bans are decided by individual moderators and administrators. Warnings are preferable to bans however, for serious offenses and repeat abusers bans will go into effect. The length of the bans can vary from several hours to permanent.

All messages posted or sent including through PM are the property of

All BKF users agree not to advertiser on the forum (Niether by posting, private messaging or using your signature). If you are a company/attorney/legal adviser wishing to advertise on the site or sell a product, you must contact the head administrator and inquire about our advertising packages.

All bankruptcy related opinions expressed on are those of their authors and not necessarily of BKF, its staff or representatives.

You agree not to copy any material/post/content from BKF without written permission from our head administrator .

By posting on this forum you agree to these terms and conditions, including any punishment deemed appropriate by moderators or administrators in the event of an offense.

Administrators/Moderators can change these rules at any time without prior notice.
See more
See less

reaffirmed car loan question

  • Filter
  • Time
  • Show
Clear All
new posts

  • reaffirmed car loan question

    i reaffirmed my auto loan when i filed my chapter 7. last month i went 6 days into my 2 week grace period. i recieved a letter from the credit union stating that my loan has gone to far into delinquincy and they would take steps to secure their intrest. my question is does the original loan get modified when filing chapter 7.

  • #2
    When you file for Chapter 7, you are (were) given the options to surrender, redeem, or reaffirm the secured collateral. If you are (were) current on your payments at the time of filing, some lenders will allow you to keep paying without signing a reaffirmation agreement, known as doing a "ride through". Other than that, Chapter 7 does not modify or "cram down" any secured loan.

    However, since you reaffirmed, the loan survives the bankruptcy, and you remain personally liable for a deficiency judgement, repo and auction fees, etc, in the event you default. I suggest you get caught up on your loan payment, and keep the car parked in a locked garage at all times to prevent it from being reposessed while you catch up. Otherwise, you will be facing a lawsuit, judgement and garnishment. After all, since you just filed BK, the creditor knows you can't file again for at least 8 years, so they will show no mercy.


    • #3
      I have a question about this. Since he reaffirmed, don't all the provisions of the original note stay "as-is"? What I mean is if there is a 10 or 14 day grace period before the payment is considered late in your pre-BK note does that provision not stay the same when you reaffirm?
      ~~ Filed Over Median Income Chapter 7: 12/17/2010 ~~ 341 Held: 1/12/2011 ~~ Discharged: 03/16/2011 ~~
      Not an attorney - just an opinionated woman.


      • #4
        I think the "grace period" he's talking about is the time in which you can rescind your reaffirmation of a debt.


        • #5
          Originally posted by bcohen View Post
          I think the "grace period" he's talking about is the time in which you can rescind your reaffirmation of a debt.
          I guess I am tired and read it wrong. I though they were speaking of the grace period that most installment loans have (due on the 1st late after the 15th for example). Thanks for taking the time to answer!!
          ~~ Filed Over Median Income Chapter 7: 12/17/2010 ~~ 341 Held: 1/12/2011 ~~ Discharged: 03/16/2011 ~~
          Not an attorney - just an opinionated woman.


          • #6
            payment coupon states it is due on the 7th and late after the 21st.payment was made 2 days after recieving leter due to recieving it on a saturday afternoon.I have never went beyond the 2 week period on that loan. the only rfeason we went into the grace period was due to a bank error.we have 2 auto loans with them. wife went to make her loan payment bank teller told her it wasnt due but mine was. 3 week later i recieved a letter stating we missed a payment on her vehicle. so we started making extra on her payment to make up the payment. the recieved a letter stating if i didnt pay it by the 1st the car would be my wife went to make the payment and the dumbass teller tried to apply it to my vehicle again.i have told my wife to keep all reciepts and if they do try to do it again yell and scream and demand to see the branch manager right then and there. this isnt the first time we have had problems with them. 2 yrs ago they claimed i missed a payment and they told what month i missed. i checked my bank statement and payment was made. went to bank with statement to prove them wrong. then they came up with another date. went back home to collect all bank statements since buying the vehicle.i proved them wrong again.they came up with another date, i pulled out that statement and proved them wrong again. they coudnt prove anything they were just playing pin the tail on the donkey so to speak.thats why i want my wife to yell and scream and demand the manager.i understand people make mistakes but this just a little too much!


            • #7
              Correct me if I'm wrong...but don't you have 60 days after you sign the reaffirmation agreement to rescind it?


              Unconfigured Ad Widget