cancel
Showing results for 
Search instead for 
Did you mean: 

Reaffirming...

tag
sarge12
Senior Contributor

Re: Reaffirming...


@empressj wrote:

I'm in NJ and hopefully WFDS allows me to retain and stay instead of reaffirming. It's sounds like it's in my best interest. Quick question: since I've already filed is it too late to change my mind about reaffirming? Or is that sometudone at the 341 meeting? I don't want to miss the opportunity.

 

Thanks again! 


You can decide not to reaffirm anytime prior to discharge...I believe you can even rescind a signed affirmation agreement. NOONE can make you reaffirm, but it is possible, but not likely, that the lienholder will repossess if agreement is not signed. It is not entirely up to you however, the trustee can actually reject a reaffirmation agreement. This is usually only done if the payments are too onerous for the debtor. Try not to get too bogged down in the details of everything. You hired a lawyer, if he is competent he will guide you through the process. Just for the record, the fear people have of the process is completely unwarranted. If you do not hide assets, or commit any fraudulant activity, you will be fine. There is light at the end of the tunnel, and often bankruptcy is the tunnel.

TU fico08=812 07/16/23
EX fico08=809 07/16/23
EQ fico09=812 07/16/23
EX fico09=821 07/16/23
EQ fico bankcard08=832 07/16/23
TU Fico Bankcard 08=840 07/16/23
EQ NG1 fico=802 04/17/21
EQ Resilience index score=58 03/09/21
Unknown score from EX=784 used by Cap1 07/10/20
Message 21 of 24
Anonymous
Not applicable

Re: Reaffirming...


@empressj wrote:

I'm in NJ and hopefully WFDS allows me to retain and stay instead of reaffirming. It's sounds like it's in my best interest. Quick question: since I've already filed is it too late to change my mind about reaffirming? Or is that sometudone at the 341 meeting? I don't want to miss the opportunity.

 

Thanks again! 


You can bring on a motion to reaffirm pretty easily right up to discharge. You can still still do it after discharge and the closing of fthe case but it is more  of a pain and more expensive (more court fees). 

 

I made a motion to avoid liens and asked the Judge's staff about (home mortgage) affirmation. They indicated the Judge was not prone to allow it, gave me the myriad of reason why. At the hearing I asked the Judge directly about re-affirmation he said he would not generally allow it.  That it wasn't in my interest, but said I could make the motion and try.

 

I left it alone.

 

BTW  soon (within the next year or so) the CPFB has mandated that Banks and Servicer's provide periodic (monthly) statements to those that are in, or have been discharged through Bankruptcy.  

Message 22 of 24
empressj
Frequent Contributor

Re: Reaffirming...

Thanks again for the info. I just wanted to know if I had time to see what's best. I appreciate your response
Discharged Jan 2017
Rebuilding credit
Message 23 of 24
empressj
Frequent Contributor

Re: Reaffirming...

Thanks for your response. I'm happy to have time to think about it. I had mentioned it to my attorney before filing and understanding what it truly entails. I thought since I mentioned it that was it, but happy to hear it doesn't work like that. Thank you!
Discharged Jan 2017
Rebuilding credit
Message 24 of 24
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.