Ch33, my CU changed the terms of my agreement with them. I had defaulted on the 2nd mtg and the visa - they attempted to add a small portion of the balance to the car that I was negotiating with them. We removed that. We dropped the interest rate and extended the length of the loan another two months. The cross collateralization was removed. The reaffirmation means you are agreeing to repay the debt - it does not mean you can not negotiate terms more favorable to you the debtor.
It is true that the attorney does not do this negotiation - nor the paralegal. It is done by the debtor directly with the CU thru their BK dept. Could it be the times we are in - IDK, maybe. All I know is I was able to renegotiate my terms and drop $100/mth off my payment and only extend the remaining terms out two months (for a total of 17 payments). I was able to skip a payment. I was able to remove the cross collateralization clause all together and remove the $4k they tried to add to the note.
You don't know unless you try. If you are not able to get the terms you need, just surrender the vehicle.
It is true that the attorney does not do this negotiation - nor the paralegal. It is done by the debtor directly with the CU thru their BK dept. Could it be the times we are in - IDK, maybe. All I know is I was able to renegotiate my terms and drop $100/mth off my payment and only extend the remaining terms out two months (for a total of 17 payments). I was able to skip a payment. I was able to remove the cross collateralization clause all together and remove the $4k they tried to add to the note.
You don't know unless you try. If you are not able to get the terms you need, just surrender the vehicle.
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