reaffirming auto loans

[clunk]

So here's the situation, were coming up on 30 days past our 341 I....so far no news, which I'm hoping is a good thing. Well now i have to decide whether to reaffirm or not. We have 3 cars 2 are financed thru a local credit union, the combined payments are $300. One is a car that is my commuter, the other is our decent but humble truck. We then have a car that's financed thru Toyota, that's my wifes car to commute to work and to shuttle the kids around. There is minimal equity in all of the cars and finally the trustee has ruled our case no asset our distribution. Do the question, if i do reaffirm these three loans is there any potential of an issue or pedagogy delaying our ? I'm probably worrying about nothing, but its just something that came to mind

[ValleYum]

Do you owe the credit union who has the titles to your vehicles for anything else except those vehicles?

[clunk]

Nope, the same credit union holds the titles to two of the cars without any other debt associated to them. Same for Toyota.

[ValleYum]

Folks whose CUs hold their titles and who have other debt with the same CU typically have issues with cross-collateralization. It sounds like you have no worries.

Reaffirming is a personal choice *and* sometimes is a good idea for various other reasons. The trustees/judges here in SW Washington were not big on reaffs when we filed.

We did reaffirm as we were in positive equity situations and our bank said they would remove the included in bankruptcy tradeline from the credit reports if we did. It worked for us. YMMV.

Best of luck to you!

[clunk]

Were in a similar situation, that and reliable transportation is a must. My real question is by reaffirming 3 vehicles does that send the wrong message and potentially draw unneeded attention to our case. I'm 85% sure I'm diving into this more than I need to but i just figured I'd throw it there..

[ValleYum]

We had our lawyer state on the form that we had family members willing to make the payments if it became necessary. We were a family of 2 with 2 vehicles with payments totaling around $800/month. Nothing was said. Both vehicles are paid in full now.

I do think it is possible (LOL and now *I* may be overthinking) that if you reaffirm 1 of the CU vehicles they make make you reaffirm both of them.

[TBA]

We bought back our cars and reaffirmed - it was really simple. The reason you wouldnt want to... You cant afford to. It didnt make sense for us not to reaffirm.

GL!!!