Chase auto loan with 2 chase cards

[Anonymous]

Hello, I hate to even think like this but its killing me.  I have an auto loan with Chase and also 2 chase cards with about 8K owed.  I would like to keep my car and was wondering if I do file for chapter 7 would I be able to reaffirm my auto with them?

[pizza1]

Yes, you should be able to reaffirm your car.  Even though its always suggested you dont reaffirn anything,  but the CC's are history, and you  will not be able to get another one with them for 7-10 yrs, or longer. You will not be able to leave the CC's out either. Everything goes into the BK pot. 

[Anonymous]

From what I understand, the only real benefit you get with a re-affirmation agreement is the credit history.
Other than that, if you keep making payments and aren’t behind, they won’t come get the collateral and the benefit of that is if you ever decide you want to walk away from the car, or if you simply can’t make payments anymore, you can just toss them the keys and walk away from the car. With a re-affirmation agreement, it’s as if the BK never happened, you are still liable to pay and can still be sued for any deficiency.

[pizza1]

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@Anonymous wrote:
From what I understand, the only real benefit you get with a re-affirmation agreement is the credit history.
Other than that, if you keep making payments and aren’t behind, they won’t come get the collateral and the benefit of that is if you ever decide you want to walk away from the car, or if you simply can’t make payments anymore, you can just toss them the keys and walk away from the car. With a re-affirmation agreement, it’s as if the BK never happened, you are still liable to pay and can still be sued for any deficiency.

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+1.. I agreewith @Anonymous .