Capital One Auto Reaffirmation...

[Faust]

Anyone do a reaff with Capital One?

We are in WI and are current on our payments.

Thanks!

[lrprn]

Anyone do a reaff with Capital One? We are in WI and are current on our payments.

If the car is worth less than you currently owe on it, most bk lawyers recommend not signing a reaffirmation agreement. In almost all situations, as long as you keep making the payments on time after filing, the lender will leave things well enough alone. And if something unexpected should happen and you can't make the payments after filing, you walk away from the car owing nothing.

What did your own lawyer recommend you do?

[mickeyme]

Yes, I had two cars that were Reaffirm with them. Durning the BK they sent my acct to an outside company but once everything was approved and we were discharged they took over the account again. The major difference is if you had automatic withdrawal you will now have to make manual payments until they take the acct back as well as you will no longer have online access to your acct. That is basically it and the process was seemless, at least for me it was.

[Faust]

Thanks for the info!

Atty says to reaffirm and that's what I will do. I am concerned that I will make payments but they will still come and repo them.

The above post is most helpful though!! Thanks! Oh, what state are you in?

[mickeyme]

Not sure if you meant me but I am in California.

[LimpDisc]

We have both our auto loans with Capital One and won't be reaffirming either loan.

First car we just purchased in August 2009 and want to keep it.

Second car is 2 months behind and we hope to work out some kind of deal with them. Depending on the source it's upside down by $5-10k. If they don't want to work with us on the loan we will tell them to send the repo man.