Reaffirming vechicle loan

[DirkDiggler]

In our case, we reaffirmed both of our vehicles. For one thing they were both at 3%-5% so knowing we wouldn't be able to get those good of rates after our BK we wanted to keep them. Another reason was one of them was at our credit union and we wanted to keep our accounts there, so we reaffirmed. Lastly they are both fairly new (2007's) with low miles and we had a smidgen of equity in both of them going by private party values, so that's what drove our decision.

And they are both reporting as Paying As Agreed on our credit report and have NEVER said IIB

[keepsmiling]

I plan to reaffirm my car loan. I have no desire to go thru a possible repossession and the thought of car shopping gives me severe heartburn!! :-) I have a reliable car that gets me from point A to point B. Filing Bk for me was a necessity, like most of us on this forum I made stupid financial decisions with regard to credit card debt. Once off the "hamster wheel" and having taken the Financial Management course I have a new outlook when it comes to frivolous spending. I have a "Need" and "Want" list...when I think I simply "can't live without it" I put it on the "Need" list, think about it or "sleep on it" and 99% of the time it ultimately ends up on the "Want" list or gone forever!! I look forward to a fresh start going forward!! My 341 is this week Wednesday...fingers crossed that all goes well and I am able to join the 60 Day Club!! Wish me luck!!

Certainly wishing you luck! And everyone here has to go with their own comfort level. BUT there is much more collective wisdom here on the board than you will find from any one single attorney.

Time and time again posters have been told one thing or another (You must reaffirm if you want to keep your house, you make too much for a 7, yada yada the list goes on) and turns out... there's more than one way to skin a cat (apologies to you animal lovers).

Just saying. Don't take everything an attorney says as gospel. I mention this in particular to you as a new poster and to others new to the board as well.
Much depends on individual districts, lenders, tt's and judges.

Having said all that--- many many MANY here have managed to safely "ride thru" their auto loans. And some who have reaffirmed have come back to tell how that decision came back to bite them in the butt.

Keep that fresh start in mind, and best of luck to you.