Rescinded reaffirmation agreement from Capital One Auto FInance

[Anonymous]

    So i called the company that handles Capital One's account while the customer is in bankruptcy and i recinded the agreement. My question is does anyone have exprience rescindiing a reaff agreement from Capital on? I don't want to get rid of my car right now but when i file bankruptcy i stopped making payments on my loan because of the advice i received. Once i reaffirmed the loan they immediately updated my credit report as 90 days late.  That hit on my credit along with all the missed payments lead me to rescind the areement. im wondering can i just start making my regular payment again once i finally get my discharge and just keep the car.

i filed on 1/15/2014 . my reaff hearing was on 5/30/2014. i rescinded it today. 6/16/2014. im still waiting on my disharge.

[StartingOver10]

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@Anonymous wrote:

    So i called the company that handles Capital One's account while the customer is in bankruptcy and i recinded the agreement. My question is does anyone have exprience rescindiing a reaff agreement from Capital on? I don't want to get rid of my car right now but when i file bankruptcy i stopped making payments on my loan because of the advice i received. Once i reaffirmed the loan they immediately updated my credit report as 90 days late.  That hit on my credit along with all the missed payments lead me to rescind the areement. im wondering can i just start making my regular payment again once i finally get my discharge and just keep the car.

i filed on 1/15/2014 . my reaff hearing was on 5/30/2014. i rescinded it today. 6/16/2014. im still waiting on my disharge.

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Did you do this in writing? I hope so. A verbal recission doesn't over ride a written reaffirmation.

I would think that the recission would have to be recorded prior to your discharge just like the reaffirmation has to be recorded prior to discharge. The reaffirmation had to be signed by the creditor and the debtor and the judge and your attorney. I would not be surprised if the recission of the reaffirmation had similar requirements. Check with your attorney right away.

[Anonymous]

i actually called them and they said they will send it over to the court. 

[StartingOver10]

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@Anonymous wrote:

i actually called them and they said they will send it over to the court. 

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Check with your attorney. I am sure a verbal recission does not cancel the written reaffirmation. Absolutely everything is done in writing when you file BK. E-V-E-R-Y-T-H-I-N-G.  I am trying to keep any negative surprises from happening to you

[Anonymous]

i filed pro se so i have no attorney. i did everything by myself.  

[StartingOver10]

Has to be in writing. Look at this link.

http://www.avvo.com/legal-answers/chapter-7-bankruptcy---rescission-on-a-car-reaffir-674941.html

Do your research.  According to some of the state's bk websites there is a specific form with a specific notification criteria.

Remember it is in the best interest of the creditor for you to reaffirm and then default as they get the vehicle + all the interest + fees etc.

I don't know which state you are located in, but here is an example of many from one of the states as to the requirements for recission of reaffirmation agreement

http://www.insb.uscourts.gov/procedure/Filing_Documents_Attorney/Rescission_of_Reaffirmation_Agreeme...

[Anonymous]

Thanks for the advice, I went down to court and filed the document with them today and i served Capital one as well.

[StartingOver10]

Great! Congrats on getting it done

[Anonymous]

Did it work out for you?