Does Golden One credit union allow Retain and Pay?

[Moneypenny]

Anyone know? This is troubling me. My lawyer said "only grandmas or people with no tolerance for risk will sign a reaffirmation agreement." (sorry, those were his words).

But I feel like I have no tolerance for risk. We just have a super clunker left and no money to put down on a car, and our kids must be driven to school while i am at work. it just wont work out.

My car has a KBB private party value of 22K and I owe 23K, which is also possibly tempting to the Credit Union.

This is for Golden One Credit Union in northern california.
Anyone know?

Thanks!

MMP


Just as an extra note: my lawyer said Golden One will cancel all my checking priviledges once I file because I have the auto loan with them (there is a clause in the banking contract that they may do so if I expose them to risk). Just so others know.

[msm859]

I have a signature note that I co-signed with my daughter that is remaining current during the BK. I just received a "nice" letter from Golden One thanking me for staying current, understanding the tough times of going through a bk, and wanting to know if I was going to reaffirm. They said I didn't have to but if I didn't I would never get credit from them again ( and mentioned how tough it may be to get credit at a recent rate after bk). Their policy is that anyone who causes them a loss is out. I suspect if you tried to reaffirm but was denied, as long as you pay you will probably be okay.

As to what your lawyer said about canceling your checking privileges that is NOT true. We filed 6 weeks ago and they have not touched our checking or savings account.