reaffirm's received...what to say?

[SunkShip]

Just as expected we not only received reaffirm agreements from the cars, but also the house, best buy and dell. We are meeting with the lawyer on Monday, what do I tell him regarding the house, best buy and dell? I do not want to reaffirm them, but he is an interesting guy and will tell us we should sign.

Do I say BB and Dell can come and get it? (I know they will probably not "come and get it.) Or should I say that BB needs to prove what we owe? BB had a series of same as cash pay-offs but other charges that have not been paid.

On the house if he says we have to reaffirm what do I say to avoid this?

[tobee43]

are you intending on surrendering the house or do you want to keep it???


you are kidding about reaffirming the dell and best buy right??? interesting is not exactly the word i would use if someone advised me to do such a thing...

however, is this an "asset" chapter 7....or a "no asset" chapter 7. that does make a difference.

think your situation out completely do not make any decisions under stress........if you reaffirm your mortgage and then later after discharge, have a foreclosure you will be responsible, if the state you live in requires you to pay the difference on what you could owe and what they the bank sold it for...( we could have had to pay 350k with absolutely NO recourse since we had already been discharged) had we not surrendered the house, kept it, and our financial situation changed where we could no longer have met the payments we would have been in too much trouble for 10 life times.

just proceed carefully...do not be pressured into signing anything you are not totally comfortable with.....

[SunkShip]

We want to keep the house but not reaffirm. Payments are current and we will just keep them that way for now.

We should be a no asset ch 7. We have nothing worth more than allowed exemptions.

Interesting is the only polite word I can think of for lawyer. I chronicled the series of mistakes in another post a few minutes ago (It is a novella!)

I fully expect him to push us to reaffirm. He told us we have "a number of agreements to sign" tomorrow, I figure that "a number of" means more than 2. His advice so far has been OFF! I need to know how to tell him what needs done. Does he write a come and get the junk letter? Or just ignore them? Does he need to answer the mortgage telling them we will pay and retain? (I am sure he will not just automatically offer any of this, but will do it if I know what to tell him.)

I 100% guarantee that I would be in a better situation if I had filed pro-se with the advice from these forums than with this attorney.

[tobee43]

We want to keep the house but not reaffirm. Payments are current and we will just keep them that way for now
make certain that "now" means you can make those payments for at least the next 8 years.....
We should be a no asset ch 7. We have nothing worth more than allowed exemptions.

Interesting is the only polite word I can think of for lawyer. I chronicled the series of mistakes in another post a few minutes ago (It is a novella!)


they seem to being getting worse as civil atty's with no work pick up a book or two and now are practicing bankruptcy...LOL!!! just kidding but these crazies are coming out of the woodwork...kinda like BED BUGS......


I fully expect him to push us to reaffirm. He told us we have "a number of agreements to sign" tomorrow, I figure that "a number of" means more than 2. His advice so far has been OFF! I need to know how to tell him what needs done. Does he write a come and get the junk letter? Or just ignore them? Does he need to answer the mortgage telling them we will pay and retain? (I am sure he will not just automatically offer any of this, but will do it if I know what to tell him.)


please don't allow him to push you into reaffirming best buy or dell.....tell him NO...i'm NOT doing it...they may be your court buddies...and you owe them a favor or two....but i'm NOT reaffirming any credit card....oh....he'll argue but your agreement says the and that and blah blah....and then you ask him to SHOW YOU...actually court cases where best buy won an AP after 90 days....SHOW ME!!
well yes and no....one reason we hired an atty is being he knew the court system and the trustees...the firm understood their behaviors and it was most helpful....but then again we had a wonderful atty and firm. I 100% guarantee that I would be in a better situation if I had filed pro-se with the advice from these forums than with this attorney.

wish i'll be a fly on the wall at your meeting tomorrow!!!

[SunkShip]

make certain that "now" means you can make those payments for at least the next 8 years.....

Is this still true if we do not reaffirm? Our intention is to keep paying the payments, and keep the house at least 4 years. Then if the market has rebounded we could sell it, and if not then they can foreclose. I thought if we do not sign reaffirmation papers on the house we will not be responsible for any deficiency balance if foreclosure becomes inevitable. Do I have it wrong?

wish i'll be a fly on the wall at your meeting tomorrow!!!

I think I would rather be a fly on the wall than the person in the chair!

I agree with the bed bug analogy. If only I had known!!!! It amazes me that someone can be handed 100% correct information with clear explanations, and clear calculations and still screw it up!

[tobee43]

Is this still true if we do not reaffirm? Our intention is to keep paying the payments, and keep the house at least 4 years. Then if the market has rebounded we could sell it, and if not then they can foreclose. I thought if we do not sign reaffirmation papers on the house we will not be responsible for any deficiency balance if foreclosure becomes inevitable. Do I have it wrong?


I think I would rather be a fly on the wall than the person in the chair!

I agree with the bed bug analogy. If only I had known!!!! It amazes me that someone can be handed 100% correct information with clear explanations, and clear calculations and still screw it up!

take a look at this thread written by a wonderful member of this forum whom also happens to be what i believe is an excellent atty:

http://www.bkforum.com/showthread.ph...-very-bad-idea.

Is this still true if we do not reaffirm? Our intention is to keep paying the payments, and keep the house at least 4 years. Then if the market has rebounded we could sell it, and if not then they can foreclose. I thought if we do not sign reaffirmation papers on the house we will not be responsible for any deficiency balance if foreclosure becomes inevitable. Do I have it wrong

in the state we were from.....if we got discharged from a bk that we reaffirmed out home....then had a financial change where we were no longer able to fulfill out payment obligation then they would and could foreclosure....charging us some of the highest foreclosure fees in this country...i have heard and know of fees in excess of 50k-100k PLUS....and deficiency between the amount owned to the bank and what the house sells for....so we would have been done for the rest of our lives.

your state may have different laws...however, you need to make a sound business decision about your future.

ask yourself...will the house ever have the equity that it had before?

one can only file bk every i believe 7-8 years....so if you live in a state like where we owned our property and in 4 years couldn't pay or sell it we would have been financially lost forever. but that's JUST our story NOT yours...it may be very different in your state.

I think I would rather be a fly on the wall than the person in the chair!

I agree with the bed bug analogy. If only I had known!!!! It amazes me that someone can be handed 100% correct information with clear explanations, and clear calculations and still screw it up!

you're going in absolutely prepared and ready for him.....pin him to the wall....get STRAIGHT direct and correct answers. you will...it's hard, but it's YOUR lives not his!

[SunkShip]

Thank you for the link to the do not reaffirm house post. I will use it to argue with the lawyer! I have no intention of reaffirming. I will move out if it comes to it, but I would like to pay a few more years with no reaffirm.

Sadly this is not info I will get from lawyer, and this is a small state so internet information is sparse on mortgage ride through laws here. I will just assume that with nothing signed I can pay each month and they will not kick me out.

[tobee43]

well, actually the laws are well defined in most states large or small...actually, we can from one of the "smallest" states in the country...but it has a ton of laws...you can just look up your state bk laws with a quick google search...promise they will be available to you. a glance at them will help you prepare for tomorrows meeting...

make sure you let us know how you make out!

[tcreegan]

Hey sunkship,

Just take the reaffirmations from BB and Dell and put them through the shredder....as you probably already knew...

Just wanted to throw in a consideration on paying the house and waiting for the market to rebound. Add up 4 yrs of payments then compare that number to estimated market numbers. I know that many markets are not looking like they will rebound in 4 yrs, some projected out 10, 14 years.

Of course local markets are different, a town 30 miles west of us has already rebounded, our town is projected in the 8-10 yr range.

Also wanted to throw out the the 'stay and wait' option...like the stay and pay but without the pay part....live rent free in the home and bank the mortgage payments until the bank gets their act together and actually forecloses, could be a couple years....pretty nice payout in that scenario!

Hope for the best w/ your attorney problems,

Tom in Colo

[SunkShip]

I like your thinking Tom, and I plan to do something like that but over a longer time period.

I need to stay and pay for 2 more years. We have too many kids for any of the rentals locally, and we are committed to letting 2 graduate from here. Mortgage pmt is under $1200, avg 4 bedroom rental is over $1800. (Because of market crash it is truly cheaper to buy than rent.)

When the 2 graduate we will fit into an average size rental, and at that time it will be cheaper to move than stay. We will begin stay and wait at that point. We will keep living in the house and banking the payment until they fully foreclose.

That plan should buy us the almost 4 years we need. Then we are moving somewhere warmer!

[newbie2]

"What to say?"

How about this: "Filing bankruptcy is supposed to give me a fresh start. I'm not signing ANY reaffirmations." Be firm. He works for you, remember?

[tobee43]

"What to say?"

How about this: "Filing bankruptcy is supposed to give me a fresh start. I'm not signing ANY reaffirmations." Be firm. He works for you, remember?

PERFECT!! words....write them down before you go see him!