Honda Financial Reaffirmation Experience?

[jribe]

I have a nice 2006 Honda Accord- i really like this car.

We're filing Chap 7 sometime this summer.

We owe about 14k on the car, it's worth 18k. Does anyone have any experience with Honda Financial (autos financed through honda at the honda dealer) in regards to reaffirmations?

If i don't re-affirm- will they repo even if current on the payments?

I am a little leery to reaffirm- just because there's no way out if something else happens and you can't pay. You're just stuck with the whole loan. So i'm nervous..

I do like the car though, and i'm not planning on being late. I just don't want to make a bad decision.

If i can just "ride through" that would work for me!

[imoverit]

We are in the same boat with Honda so i would like to know the same thing! Although, I have a friend who filed and never signed the reaf with Honda and there has been no consequence so far. They only told her that she would not be able to use online services.

[Doghouse]

I also have a 2006 honda SUV with under 14K owed and worth from 18K to 20K. I'm financed with a local CU but I have missed last two payments. Hope to now contact the CU and try to negotiate terms and see what they say or do. Because of the equity in the car and since I am not current I may do a reaffirm only if they renegotiate good terms. Else I will threaten them to come pick up car and sell at auction at the expected 30 - 40% of value.

[TEW]

I haven’t herd anything good about reaffirming anything.

[cw99]

We are in a similar situation with Honda though our cars are brand new...just a few months old. I would prefer not to reaffirm as someone mentioned, you never know what could happen, but we have NO intention of ever being late. After reading some of the stories with Ford, I am really concerned about not reaffirming. Does anyone have anyone have any specifics of having dealt with Honda in this regard?

We are also currently paying via "Auto Pay" which is not Honda specific but a company that does automatic withdrawals bi-weekly and then they pay your loan directly. The bi-weekly obviously helps you accrue equity faster. Someone mentioned not being able to use "online" services with Honda if they didn't reaffirm but I am wondering if anyone has any experience with either Auto Pay and a bankruptcy?