rescinding reaffirmation agreement???

[basketsbears]

Hi our discharge should happen sometime mid - October. Last month we signed reaffirmation on Jeep. Today, it will not start. So, just in case it is a huge repair, we have decided to rescind the agreement.

It looks like it just needs to be in writing. Would something simple like,"To Ally Financial: We are exercising our right to rescind the reaffirmation agreement dated September 12, 2012 for our 2009 Jeep Liberty."

Then sign it? I thought I would type it up, email it to our attorney. As far as I can tell, it has not been filed with the court as nothing has ever shown up on our pacer account.

If there is a form that I could send to her to get filed asap, and sent to Ally right away - please advise.

Thanks for all your help!

Lynn

P.S. Maybe it's not been filed because I really have never felt good about signing it to begin with. Maybe my attorney was waiting because she knew I didn't think it was in our best interests.

[despritfreya]

It looks like it just needs to be in writing. Would something simple like,"To Ally Financial: We are exercising our right to rescind the reaffirmation agreement dated September 12, 2012 for our 2009 Jeep Liberty."

The above is fine. Send it to the lender via regular AND certified mail. Keep a copy. Ask you attny to also file it with the Court. Cover all your basis regardless of whether or not the reaffirmation agreement has been filed with the Court. Take nothing to chance.

Des.

[basketsbears]

So we can just mail it directly to Ally? Do we put it to bankruptcy department's attention?

Thank you.

[despritfreya]

So we can just mail it directly to Ally? Do we put it to bankruptcy department's attention?

If you kept a copy of the reaff agreement pull it out. There is an address on it. Use that address. If you cannot find it then send it to each and every address you can find for Ally. Document, document, document.

Des.

[malf1204]

Make sure you fille the letter with the BK Court too. The lender may "lose or never receive your letter". If you are represented by an attorney he must file it if you are pro-se you can simply send it to the BK court clerk with your case number written on it and they will file it.

[basketsbears]

Thanks! I will email the attorney a copy of the letter tomorrow and ask her to file. I have a copy of the reaffirmation agreement and will send to that address.

Thanks for all the help. Maybe I'm over-reacting (it may be the remote key? if that makes sense), but my hours are also being cut as well, and I just don't want to take a chance.

Lynn

[basketsbears]

Update. It must only be my remote key. Works fine with hubby's key. So strange. He is adamant on keeping it so he doesn't want to sign to rescind reaffirmation. So, guess I'm back to square one on keeping it.

Thanks again for all the information in my panic mode.

[ld2366eh]

Just an FYI, I swear my attorney told me Ally doesn't require a reaffirmation agreement for you to keep the car. Our car loan is through Ally and we were advised not to reaffirm. Our Jeep is upside down though and has a 9.99% rate.

[basketsbears]

Just an FYI, I swear my attorney told me Ally doesn't require a reaffirmation agreement for you to keep the car. Our car loan is through Ally and we were advised not to reaffirm. Our Jeep is upside down though and has a 9.99% rate.

Ally wouldn't give us a straight answer. We did surrender one vehicle already with Ally, so was a little worried they would be unforgiving if we didn't sign on Jeep. Our Jeep is at 9.99% too!!! We are about $2000 upside down. My husband is just worried that they would come get it and he doesn't want to get something and then be "putting lots of money" into it. I had not wanted to sign it, but our attorney & husband said if we wanted to keep it we needed to sign it. Sigh....

The weird thing, all that was the matter with the Jeep was the remote. My husband replaced the battery in the remote and now it is fine.