341 Meeting 11/9/09

[bkbound09]

It has been a long time coming, my 341 meeting is 11/9, I am excited, nervous and a little anxious. My one concern is my car, I am reaffirming so do I continue to make my monthly payment this month, my car company Chase has not sent me anything, letters, calls nothing??

[StartingOver08]

You make the payment thru the BK dept at Chase once you have filed. They can not call or contact you, you can contact them.

[AngelinaCatHub]

Yes you want to stay current. The reaffirmation usually is approved by the Judge but you are not that far yet. It would not be considered preferential payment as your intent is reaffirmation. 'Hub

[bkbound09]

Thanks to you both, So I will make the payment then, should I contact the loan company to talk about anything or just make the payment now and wait until after the 9th??

[StartingOver08]

[QUOTE=bkbound09;340112]Thanks to you both, So I will make the payment then, should I contact the loan company to talk about anything or just make the payment now and wait until after the 9th??[/QUOTE]

You can negotiate the car payment directly with the BK dept.
Some lenders tell you that you have to reaffirm exactly the agreement you have...others will negotiate. They won't negotiate unless you ask! Iron out all of your terms verbally then have Chase put it in writing right in the reaffirmation agreement, then sign that as long as it is what you agreed to. You do not have to wait until after the 9th...you want to start early because sometimes the negotiations can take awhile. Good luck.

[zonk]

I think it's common to be nervous throughout the entire process. In our BK we surrender the house but reaffirmed the car.

A week before the 341 our creditor for the car sent us the reaffirmation papers and we never stopped payments. All is good.

The 341 meeting was a breeze and sobering event. There were 21 couples before us, all roughly age 30-45 in the same boat -- reduced or lost income for the husband. There were at least another dozen couples in the room when we left - that had standing room only.

The trustee was perhaps the most "human" person we'd been in contact with through the entire process. He went through his serious of questions with each couple and only a few cases pointed out missing forms or asked how items were valued (online etc..). At the end of each case he sincerely wished each filer good luck and he hoped that the economy and their life improved soon.

Not one creditor showed in the room for any case or ours.

Good luck on your meeting. It should be a breeze.