08-10-2012 12:59 PM
08-10-2012 01:28 PM
There should have been reaffirmation paperwork that you should have signed for the auto loan. Listing in the BK filing as a reaffirmation is not good enough. If you did sign the paperwork and they just have not corrected it yet, then I would get the paperwork and contact the BK department. I was in the same position and it took a couple of months for it to start reporting correctly. Your attorney would have had to contact them to get this accomplished beforehand.
08-10-2012 05:19 PM
08-13-2012 04:41 AM
Thanks that helps alot. I did sign the paperwork I remember for sure doing it that why I can't believe this is happening.
And a special thanks to myfico! I would have never even known this was going on without there alerting me of it
The reaffirmation agreement has to be filed in your case prior to your discharge. Go to PACER dot gov and download a copy of your case to make sure the reaffirmation was actually filed with the court on time.
If it has been, then contact the creditor to have them correct the reporting to accurately reflect your payments. You may need your BK attorney to send the letter to the creditor if they don't respond to your request.
Not all lenders will report payments after you reaffirm. I reaffirmed a vehicle and the CU did report, but it is entirely dependant upon the individual lender.
08-13-2012 07:05 AM
08-13-2012 07:14 AM
If the reaffirmation did not go through you are no longer liable for the vehicle and you will be able to let it go with no consequences. I do not believe you will have a repo becuase you are not liable for the debt anymore. I did the paperwork during my case but I remember after my creditor meeting signing a form from our auto and home lender.
08-18-2012 04:52 PM
I am currently going through a Chapter 7 and I was told not to sign a reaffirmation agreement since my car is leased. A reaffirmation agreement puts you in another contract with your car loan. They are now suppose to report your payments to the credit agencies, but if you do not keep your payments current, they can come take the car from you but you have no obligation after that. It all depends on what kind of loan that you have if the reaffirmation agreement is worth signing!
08-19-2012 04:47 PM
That is true. Reaffirming your debt is typically something you should NOT do. We had less than a year of payments left and we were going to pay it off and keep it. That is why we did it, so why wanted to at least get credit for it, and it is reporting to all 3 CRA's.
08-25-2012 02:11 PM
Is it free to sign up for PACER? And which one should I sign up for?
I just saw this question - signing up is free but you have to pay 10 cents a page to download a document.
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