I need a car before BK CU Question

[Dollar Bill]

I have a pre approved loan with my credit union.

I only hold a checking and savings with them.

I would like to buy a 7k car with them before I file or before my credit is shot.

I have heard that CU are hard to deal with when it comes to reaffirmation agreements. I don't hold any other accounts with them.

Will they do anything special to my checking or savings like freeze it until UI pay the debt off over the next few years?

If I have the amount to pay the car off in my account after they have reaffirmed.....say in a year, will they take it?

I've heard and read many sketchy things about CU's on the forum. I'm not sure if I want to deal with them or not.

[Dollar Bill]

Anyone?

[cj0203]

I think the problem comes when you are discharging something with the CU you try to reaffirm with. I think as long as you don't include them in the bk as dischargeable, they shouldn't give you any problem.

Hopefully someone here has more info. I also have the same situation, I have 3 bank accts; a car loan; and car insurance thru USAA but I was told by someone here that they don't think it will be an issue since I'm not discharging anything I have with them; I'm reaffirming everything and all my payments are current.

[no_it_all]

I have heard that CU are hard to deal with when it comes to reaffirmation agreements.

Let's think about that for a moment, ok? You have a loan and are willing to pay back every single cent, including interest. Further, you are willing to sign a document that for as long as you have this loan, you cannot discharge it through bankruptcy (that, BTW is why lenders LOVE reaffirmation agreements) or by any other means!

Soooo, you think the CU would really NOT reaffirm, try to sell the car at auction (for MUCH less than it is worth) and then not collect a penny from you (since the loan would be discharged in a BK) for the deficiency? ....I dunno, but it makes no sense to me...Not sure where you <heard> this..was it on an internet forum by any chance?

[newimges]

Let's think about that for a moment, ok? You have a loan and are willing to pay back every single cent, including interest. Further, you are willing to sign a document that for as long as you have this loan, you cannot discharge it through bankruptcy (that, BTW is why lenders LOVE reaffirmation agreements) or by any other means!

I had a car loan and a mortgage that I wanted to reaffirm and neither company were interested in reaffirming. I had never made a late payment to either of them and I mostly wanted to reaffirm to help build my credit back up after the bankruptcy. Some companies are not interested in reaffirming even though it is in their best interest to.

[dp1969]

We are reaffirming our car loan with our credit union. We have our checking/savings and kids accounts with them. We also had a VISA with them that we paid off just before filing.

Why you ask...

my sister in law is the loan default manager at the credit union we bank at. She gave me the advise that if we didn't pay off our credit card and filed bk, they would close our accounts and NOT reaffirm the car loan. So, we paid off the visa and put that we are reaffirming the car loan. We are current in the payments (never had a late one) so shouldn't be a problem.

[no_it_all]

I had a car loan and a mortgage that I wanted to reaffirm and neither company were interested in reaffirming.

So your car went to auction and your house was sold? Sounds fishy to me..what is the <rest> of the story?? Are you <sure> it wasn't your attorney that didn't want you to reaffirm? or did you go Pro se?