Hi all, this is my first post, although I have been gleaning your wisdom for a while. I filed Ch 7 pro se, no asset, in September.
Today was our reaffirmation hearing. I was expecting and wanting my vehicle reaffirmation with Chrysler Financial to go through. It's our family vehicle and we owe what it's worth. We listened through several other debtors and I was surprised to hear the judge tell most of them that she was denying their reaffirmation to give them some flexibility, to keep paying their payments and let the court know if they attempt to repossess in the next 21 days, but if no attempts were made at repossession by that time, they could keep their car as long as they remained current on payments. Her opinion seemed to be based on the lender and what she knew of their usual practices. Also, it sounded like the judge was only willing to approve reaffirmation agreements where the lender had worked with the debtor and reduced the interest rate or principal.
When it was my turn, she denied my reaffirmation, saying she wanted to help me have some flexibility and because she didn't like my interest rate, and instructed me to stay current on payments in order to keep my car. Though this wasn't what I expected, I was sort of relieved as I had trouble sleeping last night thinking about all the little things that could go wrong with my car and how many miles it has on it, but I really don't want it to be repossessed.
Has anyone had this happen or does anyone have any insight? I owe a few back car payments because they wouldn't take them during the bk, but I'm prepared to pay them in a lump sum now, but at the same time hesitant to hand over a lump sum and have them turn around and take my car for lack of a reaffirmation? She made it sound as though they couldn't unless they did it before my discharge in which case she would turn around and approve my reaffirmation. I found one article by a lawyer tonight that says that as long as I attempted to reaffirm, they can't take it away as long as I am paying as agreed. But I know you guys know more...
Today was our reaffirmation hearing. I was expecting and wanting my vehicle reaffirmation with Chrysler Financial to go through. It's our family vehicle and we owe what it's worth. We listened through several other debtors and I was surprised to hear the judge tell most of them that she was denying their reaffirmation to give them some flexibility, to keep paying their payments and let the court know if they attempt to repossess in the next 21 days, but if no attempts were made at repossession by that time, they could keep their car as long as they remained current on payments. Her opinion seemed to be based on the lender and what she knew of their usual practices. Also, it sounded like the judge was only willing to approve reaffirmation agreements where the lender had worked with the debtor and reduced the interest rate or principal.
When it was my turn, she denied my reaffirmation, saying she wanted to help me have some flexibility and because she didn't like my interest rate, and instructed me to stay current on payments in order to keep my car. Though this wasn't what I expected, I was sort of relieved as I had trouble sleeping last night thinking about all the little things that could go wrong with my car and how many miles it has on it, but I really don't want it to be repossessed.
Has anyone had this happen or does anyone have any insight? I owe a few back car payments because they wouldn't take them during the bk, but I'm prepared to pay them in a lump sum now, but at the same time hesitant to hand over a lump sum and have them turn around and take my car for lack of a reaffirmation? She made it sound as though they couldn't unless they did it before my discharge in which case she would turn around and approve my reaffirmation. I found one article by a lawyer tonight that says that as long as I attempted to reaffirm, they can't take it away as long as I am paying as agreed. But I know you guys know more...
Bankruptcy Wizard
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