Reaffirming???

[pmac123]

I finally filed on 2/15/2011!!! My creditors meeting is this Tuesday. I did not hire an attorney because I really don't have much...$38K mobile home (no mortgage) and a 2003 car worth $3000. I'm thinking this is going to be a breeze, then yesterday I get a pkg. in the mail from Wells Fargo. It was a reaffermation agreement. In 2009 I bought a shed I thought it was part of my exempt property. The amount is $1400. My understanding is that I do have to sign this and send it back to Wells Fargo, they will submit it to the court and we will get a hearing date. I really don't think the judge will approve the agreement because of income. What happens to the shed? Do I need to amend my statement of intent on Tuesday before the creditors meeting? Thanks so much....don't know how I would get through this without you!!!

[keepsmiling]

The general consensus here is to NOT reaffirm. Wells Fargo is one of the more difficult creditors, but even so... do you really see them coming to your home and emptying,taking apart and hauling (conceivably, or you can tell them anyway) mouse/rat infested, cat- pee scented shed? They will try to twist your arm but you should hold out and if push comes to shove, consider settling for some small percentage.

[pmac123]

So do I just ignore this reaffermation agreement and go to the creditors meeting without amending any paperwork? I didn't list the shed on my statement of intention. I also listed it as a non secure item. Do I need to amend that paper work to a secure item? All this worry over a little shed....come take it!!!!!!!!!!

[tcreegan]

Hi pmac,
So do I just ignore this reaffermation agreement and go to the creditors meeting without amending any paperwork? ....yup

No amending, comes under the "not worth it" category. Wells Fargo won't be at the 341, they won't come get the shed. Except another attempt to squeeze some cash out of you.

Sending letters cost them pennies, to go through the motions to actually get a $500 shed (its a used shed now) cost $$$ Their lawyers probably get $100-200 an hour, hauling the shed around $200-300 dollars, and to where? Not like Wells Fargo has a used shed lot. They want cash. period. end of story.

Its like dogs at the dinner table, don't give them anything, it only encourages them

Tom in Colo

[keepsmiling]

LOVE the dogs analogy.

[pmac123]

Ok so now I've done it! I had my creditors meeting this morning and told the trustee I needed to amend some of the schedules because of this@ #***&% shed. Do I amend intention to surrender?
Thanks
(No Wells Fargo@ meeting!)