BK...This could drive you up the wall!!!

[apie1]

What is the name of your state? IL

(Ch.7, No asset) My cousin stated her lawyer sent her a letter in the mail regarding a joint personnal loan she took out. The collateral was furniture. The lawyer stated that they wanted the furniture and when the lawyer asked when they wanted to pick it up, they stated it was a waste of there time. The lawyer found it disturbing that they did not mention the co-signer yet they were trying to collect. My cousin wants to re-affirm the loan so that her mom does not get stuck with it, but the lawyer said it does not matter, just give your mom the money for the payments. She is concerned that if she does not re-affirm on the loan, they may ask her mom for it all at once. All the payments have been on time and they have not yet called her mom about the loan. It has been two months since she filed and her 341 is coming up in Nov.

Why would they bother sending a letter if they were not going to collect?

My cousin is the only one filing bankruptcy, not her mom that is a co-signer (who is the primary on the loan), how is that effected?


Is the lawyer right that she does not have to re-affirm? If so does she re-affirm before or after the 341 meeting. Anything advice would be appreciated.

 

[bigun]

Do this the easy way and just have your cousin give the money to her mother and let her mother pay.
Nobody wants used furniture. The cost for whomever financed the furniture to send a truck and crew to pick it up, warehouse it, insure and refurbish it will be far more than they could resell it for.

 

[apie1]

Thank you for your prompt response bigun...I appreciate it!