Wells Fargo Auto Reaffirm: Can we get out?

[timrac]

Wells Fargo approached our lawyer before the 341 meeting here in Houston and offered us a reaffirm deal on our car. We had used this car loan to get additional loan funds out of desperation about a year ago. WF offered to wipe off the additional amount of about 7K (so the remaining balance is about the value of the vehicle 10K) and cut our interest rate in half if we would reaffirm. Thinking that we had to reaffirm because of the means test, we agreed. After reading a lot of posts here that now leave us thinking that we did not 'have' to reaffirm, we wonder if it is reversable.

[kenshirley]

I don't know if this helps but we were told until we were discharged that we could get out of our signed reaffirmation if we wanted to.
Or so our attorney told us.

[DebtEnder]

I don't have my paperwork in front of me but I think it's within 60 days of the discharge or the signed agreement, whichever is later you can rescind the agreement and not be liable for the debt. Of course doing this means any ride through you do will be for the full value and not the discounts they gave you.

If you plan to keep the car for only a short while then undo it. If you want the title however I would go with the pretty good signing deal they gave you.

[relief13035]

You can withdraw the reaffirmation within 60 days of the date you signed it. We withdrew ours and boy am I glad!

[kenshirley]

You can withdraw the reaffirmation within 60 days of the date you signed it. We withdrew ours and boy am I glad!

I believe that you cannot do this after you are discharged. But I could be wrong.

[Floridagail]

My paperwork did say I could cancel within certain period of time,let the attorney know right away.