Toyota question.

[damooster]

The more I think about it, the more I want to call Toyota and tell them to not file the reaffirmation agreement I sent them.

I know it sounds silly - why would they throw their protection away - but just wondering if anyone around here has done anything like that (calling the creditor and asking them not to file even though they have my signature). My 341 hearing was last week and I don't want to have to attend a reaffirmation hearing and risk further scrutiny (I filed pro se).

Thanks.

[teacher]

I want to say that even if they do file it, you have a certain amount of time (like 60 days maybe? or 90?) to reascend the reaffirmation.

[damooster]

I want to say that even if they do file it, you have a certain amount of time (like 60 days maybe? or 90?) to reascend the reaffirmation.

What do you mean by reascend reaffirmation? I'm not familiar with that term.

[Amy26]

I think teacher meant rescind, which means you can decline it, not sign it, ignore it ...etc...

I am also waiting for a reaffirmation from Toyota.

[damooster]

I think teacher meant rescind, which means you can decline it, not sign it, ignore it ...etc...

I am also waiting for a reaffirmation from Toyota.

I can still do this even after signing it? They sent me the agreement and I signed it and mailed it back to them last week.

[LuciluS]

Yes, you can rescind the Reaffirmation, but before you do, I would do some research or Case History on BKs and Reaffirmations as Toyota may have the right to repo your car if you are even one day late. Toyotas do not lose their value as fast as most vehicles.

I have a 1999 Toyota Sienna Minivan that I bought brand new 5/12/99 and has a NADA Retail Value (what my district uses) of $5,8??.?? the last time I checked a month ago with 130,000 miles. My Van has only 97,750 miles on it. I remember the exact date, because it was the one and only time I ever paid cash for a vehicle.

Just some thoughts.

Luci

[damooster]

Yes, you can rescind the Reaffirmation, but before you do, I would do some research or Case History on BKs and Reaffirmations as Toyota may have the right to repo your car if you are even one day late. Toyotas do not lose their value as fast as most vehicles.

I have a 1999 Toyota Sienna Minivan that I bought brand new 5/12/99 and has a NADA Retail Value (what my district uses) of $5,8??.?? the last time I checked a month ago with 130,000 miles. My Van has only 97,750 miles on it. I remember the exact date, because it was the one and only time I ever paid cash for a vehicle.

Just some thoughts.

Luci

Wouldn't they have the option to repossess after my case is disclosed because I rescinded my reaffirmation, even if my payments are on time?

[aces67]

It depends on the laws in your state. In my state as long as my payments are made on time my auto company can't repo my car.

I did not reaffirm my auto loan.

[damooster]

It depends on the laws in your state. In my state as long as my payments are made on time my auto company can't repo my car.

I did not reaffirm my auto loan.

Any idea where I can find these laws for my state? I live in Virginia.

[OhioFiler]

Any idea where I can find these laws for my state? I live in Virginia.

Try here: Virginia laws.