Reaffirmation Agreement Question

[HGolightly]

I served and filed the Statement of Intention to reaffirm my car with Ford Credit (I know, I know...) - but I have not received any reaffirmation paperwork from Ford. My 341 is in 11 days. Don't I need something regarding reaffirmation in place by that time? Should I call the BK department at Ford? Should I just lie low?

Thanks!

[mtbc]

Calling them would be okay. Though it'd be preferable to, you don't have to have it sorted by the 341, though, you have some time afterward to do it. (I think maybe even several weeks, I'm not sure, it's in the statute.)

[HGolightly]

Thanks. I'll give them a call just to make sure all is well on their end, though it is good to know there isn't a big rush.

[BKDefender]

The rules say that you have to file a statement of intention within the 30 day period after filing your case, and that you need to perform your intention within the 30 day period following the first scheduled 341 meeting. So if your 341 is in 11 days, then you have 30 days after that first scheduled meeting to reaffirm the debt.

I have bad news for you though - Ford Motor Credit is known in the industry to not care much about reaffirmations and will often just repo the car after bankruptcy regardless of your stated intentions. If you're current on your FMC bill, and your state does not allow repossession unless you're in default, then they won't be able to repo it unless you stop making payments.

--William

[justbroke]

I would also add that if you signed the reaffirmation and sent it to Ford, they would then "file" it with the Court. Since you are pro se, the Clerk would then schedule a hearing so that the Judge can determine if reaffirming is not a burden on you.

[HGolightly]

Update- I just got off the telephone with a lovely woman in the bankruptcy department at Ford Credit. I asked her if Ford Credit would be reposessing my car - after I signed a Reaffirmation Agreement (which they will send to me as within the next week or so). I asked this, because if they are going to repo my car no matter what - I would just as soon save the money I would be spending on the car payments.

She asked me if I thought it made any sense that one of the Big 3 car companies would make it a practice to reposess cars where a Reaffirmation Agreement had been signed and the payments were current. I had to say, no it would make no sense.

She agreed with me. She stated that was not Ford's intention.

She did say that they would repo a car that was NOT reaffirmed, because you can't just hold onto a car that has been discharged in bk without proper paperwork involved.

She said I could call her any time. I just thought of something... What if I sign the Reaffirmation Agreement - but the judge disagrees. Is my signing the agreement good enough? I think in the Nolo book it says that all we have to do by law is do the intention and sign the Reaffirmation Agreement and stay current.

I think I'll call her again and ask.

Hope the above helps.

[tigergem]

Do you really think there is any legitimate basis for the the court to deny reaffirmation? Or are you driving yourself bonkers thinking too much? Sorry - - had to ask. Because that is what I would probably be doing. ;-)

[HGolightly]

Heh... I will be so happy when this deal is done - so I can quit overthinking every aspect of it. My 341 and all the rest can not come soon enough!