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Ok thanks. I am not sure what the Fresh Start Bk Offers are.. now I need to do some more research. lol. THANKS
@amber78 wrote:Sorry I dont know the answer... but I am planning to do the same thing.
i love my car loan its through a GREAT program. I dont want to get rid of my car.. and I want them to keep reporting to the CB that I am making payments on time..
Not sure why many ppl on these boards are saying not to do it... but Im newer
Much has been posted in the forum on the topic of reaffirming debt ... but I'll try to help you
If you reaffirm a debt and then default post discharge, you are at the creditor's mercy as you will have zero protection of the bankruptcy laws. Let's saythat you miss a couple of payments and the creditor were to repossess the auto then sell it off at an auction for less than the balance owed, they will come after you for the difference ... and you have lost the auto on top of that.
Given that the #1 objective of filing a bankruptcy petition is to rid yourself of debt and creditors, can you see how deciding to reaffrim a debt contradicts that objective?