I filed for Chapter 7 BK nearly a month ago now. Waiting on my meeting of creditors which is on July 5th at 3:30.. In this bankruptcy, I decided to reaffirm on my car. About 2 weeks ago, my attorney had me come in and sign the papers for the reaffirmation from the auto loan company. So I guess I'm not sure how all of this works. I guess I thought I would just continue my payments on the account like normal. I logged into my online account to pay the car payment.. and it shows a 0 balance and no account even there to pay on?? I'm super confused. Do I not pay anything on it until after the bankruptcy is final? Will I have to catch it up? Or will it start a new payment plan? I hope the payment isn't more than what it was before?? This just kinda scared me.
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You keep paying. It is normal for a lender to suspend online access during a bankruptcy. Mail in your payment to the lender. Also, please re-consider reaffirming unless you absolutely have to do it.Filed Chapter 13 02/2006 - Confirmed 05/2006 - Discharged 09/2011
I'm not an attorney. My replies are merely suggestions or observations, not legal advice. As always, consult with an attorney before making any decisions. -
Why would I not want to reaffirm? I can afford my car payment just fine. My situation was kinda crazy. I'm mostly filing because of a $24,000 debt that was my ex husbands fault.. his responsibility but both of our names were on it... and he let it go and filed bankruptcy forcing it onto me and forcing me into bankruptcy.
So my payments will stay the same? I guess I will have to call them. I don't even have a payment book. I've always paid it online. The online thing doesn't even show the account exists.. it's a 0 balance.Comment
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A major reason not to reaffirm is you are free of the debt. Let's say something unexpected and major happens in a year or two or three (God Forbid)..and you reaffirmed the car note...you are on the hook for the car, and you can't file bankruptcy again. Most people do a "drive through" meaning they continue to make the payment without reaffirming the loan and if something happens or they no longer want the car, the can have the lender come and get it without being obligated for the debt.
Some lenders require reaffirmation.
In the end, it is a personal choice.Chapter 7 Filed: 04/21/2011, 341 Meeting: 05/31/2011, Report of No Distrubution: 06/02/2011, Discharged: 08/03/2011, Closed: 08/10/11Comment
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