Perhaps this should be in the section on rebuilding credit, but I suspect more people will see it here...
This was a surprise to me, and it could have been bad. I re-affirmed the loan for my car. What I never would have thought of was that Honda still counts as a creditor, and from the time of filing until a discharge happens, they are prevented by the stay from hounding me for payment. Great.. except that this includes sending me my regular bills, which I intend to pay.
Included in the packet of paperwork that had to be signed to re-affirm the loan was an innocuous-looking statement that essentially said
"Oh, by the way, we won't be sending you any more bills for a while. Also, we've disabled your ability to make online payments.
If you'd like to continue making payments, you may send them to us at
this teeny little address here...the one you can barely read".
You can read this as entrapment, or you can read it as Honda covering their butts so I don't sue them for violating the stay, but PLEASE be on the lookout for this...you're probably re-affirming in the hopes of getting a running start on rebuilding your credit, and you don't want to start off with a bunch of late payments! I addressed and stamped six envelopes, and stuck them in my checkbook, so I don't slip up and forget to make those car payments. Do whatever it takes to remind yourself.
This was a surprise to me, and it could have been bad. I re-affirmed the loan for my car. What I never would have thought of was that Honda still counts as a creditor, and from the time of filing until a discharge happens, they are prevented by the stay from hounding me for payment. Great.. except that this includes sending me my regular bills, which I intend to pay.
Included in the packet of paperwork that had to be signed to re-affirm the loan was an innocuous-looking statement that essentially said
"Oh, by the way, we won't be sending you any more bills for a while. Also, we've disabled your ability to make online payments.
If you'd like to continue making payments, you may send them to us at
this teeny little address here...the one you can barely read".
You can read this as entrapment, or you can read it as Honda covering their butts so I don't sue them for violating the stay, but PLEASE be on the lookout for this...you're probably re-affirming in the hopes of getting a running start on rebuilding your credit, and you don't want to start off with a bunch of late payments! I addressed and stamped six envelopes, and stuck them in my checkbook, so I don't slip up and forget to make those car payments. Do whatever it takes to remind yourself.
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