car reaffirmation question

[kymgirly]

My meeting of the creditors is later this month and I plan to keep my car. However I want try and get a lower interest rate so my payment will be lower. I currently have like 25% interest and really want that to be lowered. I'm current on my payments and I love my car (name him Pete Pontiac) but I hate being broke and struggling. Does any have advice on this?

[spetkovich]

All the reaffirmation agreements that I've seen typically do not change the terms of the original contract. It's worth a phonecall or two, but a reaffirmation agreement will not let you renegotiate the terms of the contract like a refinancing would.

[BobMango]

I did get my lender to lower my payment, but my rate stayed the same at 5.9%. They were willing to work with me as long as I signed a reaffirmation. This was a local credit union and I understand the large companies are much less willing to be flexible.