My wife and I have filed Chapter 7 (or the attorney will be filing as early in October as possible)because we were simply living beyond our means. We have two auto loans and plan on reaffirming one of them. The challenge is that both loans are 2-3 payments behind. So a couple of questions:
A) Will an auto lender (in this case Wells Fargo and Acura Financial) offer a reaffirmation statement if you are past due?
B) Should we make the October payment prior to receiving a reaffirmation offer since if they don't offer it's lost money?
C) How long do they usually give you to catch up the payments?
D) If neither auto lender offers a reaffirmation, how long can we expect to keep the cars (how long before the apply to have the stay lifted if they do)?
Any help would be greatly appreciated. I get a bonus in March that is usually $12k after taxes so we can buy a different car outright (or 2 low priced ones if needed) just getting from here to that point in time seems insurmountable sometimes.
Starting Score: 533
