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#1
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reaffirmation questionWhat is the name of your state? NC I filed a bankruptcy and requested to reaffirm my car loan. I received the paperwork for the reaffirmation after my 341 hearing. I decided that I wanted to try negotiate some better terms on the loan. My lawyer didn't return my phone calls so I mailed her a copy of the agreement and asked about negotiating. I received no reply, and the reaffirmation agreement states that if I don't sign the agreement the loan company can't come after me for the money, only reposses the vehicle. I didn't sign the agreement, but am wondering what could happen to me if I let them come take the car. (Bankruptcy has been discharged) |
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#2
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| If you didn't reaffirm, and you don't keep paying, they repo the car. However, since there's no reaffirmation, the loan was discharged in your BK, so you would have NO liability for any deficiency from the repo - you walk away free and clear. If you keep paying on the car, they'll likely let you keep it, they don't want the vehicle back, they want the money.
__________________ "Knowledge is Power - use it as you see fit ! I am not a lawyer or a member of the legal profession. My advice is based on research and experience, my own and others, some who practice law. You decide for yourself what actions you do or do not take from my advice. |
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#3
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| I questioned the reaffirmation after the 341 hearing, so the car note is not listed in the creditors list. Would it still have been discharged? |
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