explain reaffirmation...

[nailtech]

OK could someone please explain reaffirmation to me,. I think I know what it is but I dont understand it...

we had our 341 meeting today, we are keeping our two vehicles and house(which is owner financed).. we didnt have any reaffirm papers to sign on the vehicles... so thats where I'm lost...

I asked the lawyer if we needed to draw up papers for the owner of the house, cause I called her and she said since I paid her on time all the time she has no problems with it and the BK is our business... the lawyer said he wasnt going to press the issue since she didnt need the papers,......

I though you needed the reaffirmation papers on the things your going to keep or they come and take them?? someone help me understand this better.. or am I fixing to get screwed, can they come take the vehicles without the Reaffirmation papers??(other people were signing reaff. papers there)... I'm lost....

 

[racer72]

The items you describe would be listed as exemptions in your BK filing and do not require reaffirmation letters. You are current, and as one creditors stated, that is all that matters.

 

[nailtech]

thanks racer, now I'm releived....... and WAS soooooooooo confused....... it was a no asset case the trustee said....... only took months of stomach aches, headaches,........ and lots of nights with no sleep, ...... the hardest decision I have ever had to make and deal with,..... and never want to go through again........


(they did list as exempt but didnt know what that meant either)