I finally got the nerve to call my credit union and ask the BK questions. I really did not want to set of any alarms just yet as I am still in my 90 day look back period and have not filed yet but I had to know.
I asked about their reaffirmation procedures and they stated reaffirmation is mandatory with them. If I do not sign an agreement or the BK judge will not allow a reaffirmation then I must return the car, current on payments or not.
No ride-through.
They will no longer accept automatic withdrawal for payments from my account once I file and I must go into a branch to make the payment. They also asked if I would reaffirm a signature loan with them and I stated "not likely." With this information they confirmed they would no longer do business with me and my accounts will be closed forever.
The good news is they do not cross-collateralize. Once I pay off a vehicle they will release title to me even if I owe or went BK on another loan. This was very important to me and to others out there that may want to know.
The BK representative even looked up the court district I would be "hypothetically" filling in (Central District of Ca) and said those Bk judges were "really picky" about reaffirmations so I may still lose a car anyway. I hope not. My legal team does not think I will so I will just keep my fingers crossed.
I am 10 days away from my first missed payments on anything ever and to say I am stressed is an understatement. Once I go down this road there is NO turning back for me. I hope all works out as planned but it is just unknown. I hope I have made the right decision.
The information on the above credit union is for all those based in the San Diego/Riverside area of CA that may use this large area credit union. I don't know about any others. Hopefully this is helpful information to some out there.
ST
I asked about their reaffirmation procedures and they stated reaffirmation is mandatory with them. If I do not sign an agreement or the BK judge will not allow a reaffirmation then I must return the car, current on payments or not.
No ride-through.
They will no longer accept automatic withdrawal for payments from my account once I file and I must go into a branch to make the payment. They also asked if I would reaffirm a signature loan with them and I stated "not likely." With this information they confirmed they would no longer do business with me and my accounts will be closed forever.
The good news is they do not cross-collateralize. Once I pay off a vehicle they will release title to me even if I owe or went BK on another loan. This was very important to me and to others out there that may want to know.
The BK representative even looked up the court district I would be "hypothetically" filling in (Central District of Ca) and said those Bk judges were "really picky" about reaffirmations so I may still lose a car anyway. I hope not. My legal team does not think I will so I will just keep my fingers crossed.
I am 10 days away from my first missed payments on anything ever and to say I am stressed is an understatement. Once I go down this road there is NO turning back for me. I hope all works out as planned but it is just unknown. I hope I have made the right decision.
The information on the above credit union is for all those based in the San Diego/Riverside area of CA that may use this large area credit union. I don't know about any others. Hopefully this is helpful information to some out there.
ST
Closed 02/25/1 
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