Unsecured creditor wanting me to reaffirm?

[Mark80]

Do unsecured creditors try and get you to reaffirm the debt you owe them? I got a letter today from one asking if I am going to reaffirm? Thought it was weird, who in their right mind would do that?

[magyar123]

Never heard of that either. Maybe they're begging you to reaffirm because they were turned down for bailout funds. Bribe them - tell them that you will if they lower your interst rate.

[HHM]

If the creditor thinks they have a strong case for fraud, they may float a reaffirmation agreement as a way to settle the case.

[Mark80]

This was a Maytag account before they sold out to some other company. I owe then around 1200 bucks and the debt is about 2 1/2 years old.

How you could site that as fraud I don't know? Did maytag offer "secured" credit accounts? If I don't reaffirm and they were, (which no one told me they were) what do they come take my fridge? lol

This is confusing, obviously I need to call monday, just hoping you guys had an idea what was going on.

[PoorGrammyinBK7]

[Keebler]

Do unsecured creditors try and get you to reaffirm the debt you owe them? I got a letter today from one asking if I am going to reaffirm? Thought it was weird, who in their right mind would do that?

People in Hell want ice water but that doesn't mean they get it.

I didn't really have any consumer credit accounts beyond the big name credit cards so nobody seemed to think I had anything to take back. There's wasn't a single word from anyone.

I would have your attorney reply and the chances are good they'll give up on the whole idea.

[HHM]

This was a Maytag account before they sold out to some other company. I owe then around 1200 bucks and the debt is about 2 1/2 years old.

How you could site that as fraud I don't know? Did maytag offer "secured" credit accounts? If I don't reaffirm and they were, (which no one told me they were) what do they come take my fridge? lol

This is confusing, obviously I need to call monday, just hoping you guys had an idea what was going on.

If this was Maytag, then it was a secured debt. You still don't have to give it to them, but technically, that debt was probably secured.

[TEW]

This was a Maytag account before they sold out to some other company. I owe then around 1200 bucks and the debt is about 2 1/2 years old.

How you could site that as fraud I don't know? Did maytag offer "secured" credit accounts? If I don't reaffirm and they were, (which no one told me they were) what do they come take my fridge? lol

This is confusing, obviously I need to call monday, just hoping you guys had an idea what was going on.

you may have to offer to redeem the asset. but offer garage sale price. maybe 300 for a washer and dryer
I had to do that will a ring they wanted 600 i offerd 100 and they took it

[justbroke]

This was a Maytag account before they sold out to some other company. I owe then around 1200 bucks and the debt is about 2 1/2 years old.

This was probably a secured debt. When you use most store credit cards, they automatically attach a lien to the purchased property. They call this a purchase money security interest (PMSI).

Almost every department store credit card has this PMSI attachment!

You can also motion to avoid the lien if the property is otherwise exempt (you have BK Exemptions which cover it). This would make it... unsecured to the extent that the lien doesn't impair your ability to claim an exemption. Fancy speak for... they'll probably get nothing anyhow.

[Bell30656]

Figure if they send that reaffirmation offer/suggestion out to a 1000 debtors and just one or two say "Yes" they are happy.

[Mark80]

I'm not going to reaffirm it, I don't think anyone would. Its for a fridge and microwave, like I said they are 2 1/2 years old and the account was actually paid down to 800 before BK. But since they rolled in tons of fees almost doubling it. Both appliances are not worth the amount now, so if they want them they can come and get them. I will save up and buy a new fridge in the mean time.