Discharged 8/12 but got Reaffirmation hearing request in the mail TODAY!!

[panthersguy]

Hey guys, we were discharged 8/12 and were gonna reaffirm our mortgage because we have equity and don't plan to move for at least 5 years or more.  We received a letter in the mail today that was FILED 8/13 from our lender requesting a hearing for Sept 1st about reaffirming our mortgage...couple of questions:

1. It's my understanding that since they missed the deadline to file for a hearing, we don't have to do anything...

2. Should I call the bankruptcy court and ask if we even need to have a hearing since the lender missed the deadline for filing date??

3. Why would the court even accept a request for a reaffirmation hearing AFTER our case was discharged???

Am I missing something here??? Seems like the lender screwed up and missed the deadline to file...

I know we don't HAVE to reaffirm, but was just wondering if I was missing somethign here...

Any thoughts are appreciated...

[KDKobes]

Correct me if i am wrong but from my understanding is that you are NOT free and clear until 90 days afterward discharge. In fact if you were to get a lump sum of money within 90 days from discharge they can take some of that money. Up to $20,000 for individual and i think up to $44000 if married. Of course you can file papers to have all that adjusted but regardless its 90 days afterward discharge. If u had equity in your house and it wasnt listed that is your problem. Theyre not going to likely that and debtor most likely will try to get that equity. That shouldve been listed and u should discuss that within your attorney.

If it was listed then most likely your interest rates will go way up. I had a vehicle loan that I wanted to keep but I let go through because my lawyer advised me that too often afterward the dust settles they come back right away and can change your payments and interest rates and there isnt anything to do about it.

[panthersguy]

I don't believe that is accurate, at least not in most cases.  From what I've read, you could win the lottery a day after discharge and they couldn't touch it.  In our case, I'm frustrated that our lender had a month from when we sent them the paperwork and they dragged their feet and now we have to drive an hour again to go to a hearing about something that should have already been resolved.  ARGH!!!!!! 

We are now trying to decide whether to reaffirm or not.  We know the repercussions of doing this, but we are in a much better financial position now and have 6 months in reserves to help if an emergency came up....they have also agreed to report future payments to the CRA's...decisions, decisions....

[TRC_WA]

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@panthersguy wrote:

I don't believe that is accurate, at least not in most cases.  From what I've read, you could win the lottery a day after discharge and they couldn't touch it.

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 Not disclosing assets is a completely different matter...

[ezdriver]

It is not clear from the OP's post that any reaffirmation agreement was prepared and signed by any of the required parties. Was a reafformation agreement prepared and signed or not? Reopening a closed case is not an easy thing to pull off. The trustee will likely look to the bankruptcy judge [hence the hearing] to determine an outcome. Information is missing from the original post so it is impossible to provide reliable responses.

[panthersguy]

So to make it more clear....our lender said they mailed the reaffirmation paperwork to us on July 3rd and it takes 7-10 business days to get it.  We waited and waited...on the 14th I called them and told them we still haven't received it..they said to give it until Friday the 17th, so we did...The 17th came and no paperwork..I called again and they told me they would have the attorney's office that was handlng the reaffirmation email it to us on Monday or Tuesday.  We received it on Monday the 20th and completed the paperwork and I emailed it back to the attorney's office, I also asked the attorney to confirm that if we reaffirmed, that the future payments would be reported to the CRA's...

On July 21st she emailed me and said everything looks good and she will let us know when she hears from the lender on my question about reporting.  On July 30th, I received an email that that they agreed to report future payments....that's the last we heard fro mthe attorney on anything.....

I feel frustrated that they waited until after we were discharged to file the paperwork, at this point I'm thinking too bad, they missed the deadline to file.  I guess we'll know more at the hearing on the 1st....will update after that...

[ezdriver]

Thank you for the clarification. Did you use an attorney in your filing? If yes, your attorney failed you. A reaffirmation agreement, originated by the lender, is required to be maile to all parties. Not much you can do now. It is up to the trustee to respond to the lender. Until the trustee/bankruptcy court approves a reaffirmation agreement, you do not have one. I don't see the case being reopened to accomodate a reaffirmation agreement that was not done on time.

That loan was included on your creditor schedule correct? If yes, then it has been discharged and you are no long liable for repayment.

[panthersguy]

We filed Pro Se, but made every deadline for filing documents that WE were responsible for and thus got the discharge.  We feel like our lender dropped the ball and filed late.  They had plenty of time to file the reaffirmation paperwork before the discharge date and didn't.  Yes they were listed on the original list of creditors.  We were a little ticked off that they wait until AFTER the discharge date to file it.  When I talked to the case administrator and asked her about them accepting the filing AFTER the DC date, she said they were signed before that.  I told her that's true BUT the lender didn't file it in time.  She basically said what you mentioned that it's up to the Trustee and judge.  We're not sure now what we want to do. 

Part of me says you guys missed the date so too bad.  The other part is we'll get credit for payments we're gonna be ,making anyway and that would help with the rebuild.

What are you thoughts on this??

Thanks!!!