Ch 7 question help!

[momtoroxy]

We filed on Oct 14th. We are intending to reaffirm both vehicles and our house. Unfortunately my husband was laid off on Aug 31. We have never missed a mortgage payment. He just started working and it looks like we will have to miss our November house payment. But, we want to reaffirm the loan. Can we reaffirm while needing to miss 1 payment? Will we just have to catch up later? We will have a 3 paycheck month in January where we could catch up. Our mortgage is with Chase.

Thanks!

[MSbklawyer]

If you've had a good payment record up to this point, I'll just bet that your lender would rather put that one payment at the end of the loan than they would to put another foreclosed house on their books.

But then again, you're dealing with Chase. Big, huge, impersonal, international conglomerate.

Hard call.

But if they just go completely horse's ass on you, you do have the option of a 13.

[DebtEnder]

I didn't have this with a house but with a car I had thought about re-affirming(betters terms and whatnot) I was told they could charge late fees and if I reaffirmed without getting the payment current they would report it as how ever many days late it was at the time of the re-affirmation.

So I would think they will charge a late fee for the missed payment, but will not report anything on credit till it's re-affirmed. Even if it is re-affirmed they might not report good or bad on credit. Why do you want to re-affirm a personal guarantee into a debt when it sounds like you might not be able to afford it? Odd are HIGHLY in your favour you can just ride thru the debt and keep the house and just keep making payments. Then if you should ever have an issue making the payments you can just walk away at your own timing.

I ended up paying it off lump sum for about 40% of what I owed on the car if your curious.

[momtoroxy]

Well, we live in the state of Nevada where unemployment payments are $400 a week. My husband was making $1250 a week in the previous job. Since he just started working again, we will have to get a few paychecks to be caught up. He'll be making about $900 a week with the new job. It was hard to pay everything on unemployment...

[momtoroxy]

I think we'd walk away from the house if they tried to force us into a ch 13...we have $80,000 in cc debt mostly due to medical (reason for filing in the first place).

[lifelesson]

Chase re affirm is the reason we had to extend our discharge date (3 days before it was to happen).
They claim they sent our attorney the papers even by fax. Our attorney claims to not have gotten the papers. Go figure. Anyway we finally got the reaffirm signed and files with the court two days after the first discharge date was but now we sit for 28 more days and wait our discharge.

I agree I think Chase is just abig uncaring company and I wish I didn't have to deal with them.

Here are the Chase BK Dept phone numbers (I was given I hope that will help you out.)

Homes: 888.332.3412
Autos: 800.592.9861

And get name and note the date and times you spoke to them.

As of today I still have not gotten the copy of reaffirm I asked them to mail to my home so as to make sure all was taken care of timely.

Good Luck.