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Member
cowgal45
Posts: 14
Registered: ‎02-11-2013
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Just came back from the lawyers office...

My main concern over this bankruptcy was my home. Reaffirm or not reaffirm. I have read tons of articles on both and the majority of them said do not reaffirm. This is what I was thinking before I got to his office. I'm current on my mortgage right now, but mainly feared that should something happen to me down the road a year or three from now, I may not be able to keep up. I brought all this up to him and he said no question, I should reaffirm with the bank, because if I don't they will ask to have the stay lifted and being foreclosure. I was under the impression that if you kept up with mortgage, insurance and taxes, they couldn't do that. I mentioned that I had read this many times to him and he said to stop reading and listen to him because he's my attorney. He said I can't have my cake and eat it too? So I guess I'm going to reaffirm even tho it feels wrong. Just wondered what you all thought?  I'm in Illinois btw.

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starry1
Posts: 2,315
Registered: ‎11-29-2012
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Re: Just came back from the lawyers office...

I think you should interview several other attorneys before deciding.  I'm not saying this guy is wrong, but you obviously don't feel all that comfortable with his advice.  Get the advice of others before deciding.


Starting Score: 11/29/12 TU 527; EQ 565; EX 564 fako - bk7 dc'd 2/15/13
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grassfeeder
Posts: 375
Registered: ‎03-01-2012
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Re: Just came back from the lawyers office...

I would absolutely suggest finding another attorney.  I have never spoken to one that EVER suggested reaffirming.

Filed BK7: 7/12 (discharge 10/12) 5/12- EQ FICO - 508 / TU FICO - 490
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cowgal45
Posts: 14
Registered: ‎02-11-2013
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Re: Just came back from the lawyers office...

Well, the lawyer is already retained. I am comfortable with him and his staff, well, until he became so adamant about the reaffirmation. He was quite convinced that if I didn't, they would immediately begin forclosure as soon as they got the stay lifed. He said no bank was going to let me 'just live there because I'm making the payment'. I'm really confused. I have some time before any affirmation takes place, however, to do more reading...  O wait...he told me to stop reading...lol 

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starry1
Posts: 2,315
Registered: ‎11-29-2012
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Re: Just came back from the lawyers office...

I have a BIG problem with anyone telling you to stop educating yourself.  I don't care how many degrees they have.  Yes, its his specialty, and he knows more about the local law than any of us here, but that is just over the top.


Starting Score: 11/29/12 TU 527; EQ 565; EX 564 fako - bk7 dc'd 2/15/13
Current Score: 12/12/14 TU 659; EQ 659; EX 653
Goal Score:  625 for now– New goal 675

Cap1 sec $1k (SD) / Fingerhut $2k / Flagship $12k / cashRewards $10k / NavChek $15k / Amazon $2k / Von Maur $1k / Firestone $2.2k / BCU $3k / NFL $1k / QS1 $500 / Target $400 / PPSC $800 / Texaco $400 (last app 09/29/14)
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grassfeeder
Posts: 375
Registered: ‎03-01-2012
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Re: Just came back from the lawyers office...

best of luck to you - I think he's making the absolute wrong decision.

Filed BK7: 7/12 (discharge 10/12) 5/12- EQ FICO - 508 / TU FICO - 490
EQ FICO: 672 (10/14)
TU FICO: 648 (10/14)
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StartingOver10
Posts: 4,519
Registered: ‎03-06-2010
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Re: Just came back from the lawyers office...


cowgal45 wrote:

Well, the lawyer is already retained. I am comfortable with him and his staff, well, until he became so adamant about the reaffirmation. He was quite convinced that if I didn't, they would immediately begin forclosure as soon as they got the stay lifed. He said no bank was going to let me 'just live there because I'm making the payment'. I'm really confused. I have some time before any affirmation takes place, however, to do more reading...  O wait...he told me to stop reading...lol 


Did you file yet, actually file? Or did you just pay the attorney his fee?

 

I have to agree with the other posts, something doesn't sound right at all ESPECIALLY with the statement he made to you in red above. That is a big red flag. Is this a general attorney that also does bankruptcy's or is it a true bankruptcy attorney that only practices BK? There is a massive difference between the two. If it is the former type- get your money back and hire someone else. If it is the later type, then interview more BK attorney's until you find one that is knowledgeable about reaffirmations and mortgages. JMO.

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shols44
Posts: 398
Registered: ‎11-03-2012
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Re: Just came back from the lawyers office...

I would NOT reaffirm. I think its quite important to include your mortgage debt in the BK. I WOULD continue making payments, as long as they keep accepting. Now, once you are discharged, you can walk away from the property at anytime without them being able to come after you for the debt. 

 

There is a good chance, your Mortgage co or servicer will sit tight as long as they continue to get a check from you. Like everyone else is saying, you might want a new lawyer.

 

I can only think of one debt worth reaffirming; a car you want to keep. 


Starting Score: 501
Current Score: 706 EQ,TU 689,EX 686
Goal Score: 720

Member
cowgal45
Posts: 14
Registered: ‎02-11-2013
0

Re: Just came back from the lawyers office...

Nothing has been filed yet, I just took the money and the paperwork in today. I'm not sure what would happen if I told him I didn't want to reaffirm? I can do that right?  He does a lot of bankruptcys but it a regular attorney as well. It's just that, well, I read so many things, and they all point to NOT reaffirming and then he turned the table. He really hasn't looked at my financial statement yet and could say, well yeah, I can see what you mean, I could keep this house paid as long as nothing catastrophic happened, but what if it did. That's my gut check. What if the bank said they were going to foreclose on me cuz I didn't reaffirm? I don't want that either! I just don't have anyone to talk to about it and it's scary!

Member
cowgal45
Posts: 14
Registered: ‎02-11-2013
0

Re: Just came back from the lawyers office...

So are you saying that the bank could quit accepting my payments after discharge? And I own my car free and clear.


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