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Thought I'd reaffimed; Finance Company Says NO!

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KBinMS

Junior Member
Help! Thought I'd reaffirmed; Finance Company says NO! State of Mississippi
My husband and I filed Chapter 7 almost a year ago. The attorney said if we continued to pay the home mortgage and the car loan they would be reaffirmed. I spoke to a rep. from the car finance company who said the loan had not been reaffirmed because an affirmation form had not been signed. I'm confused! The state of Mississippi requires you to declare your intentions as far as the secured and unsecured collateral is concerned and I specifically remember saying that we were keeping the car. I have been paying this note religiously on time with the assumption that it was improving my credit score. According to the rep. the payments are not being reported. What do I do? Am I legally responsible for continuing to pay? Or, should I return the vehicle and get one that will count toward my credit?
 


Ladynred

Senior Member
The attorney said if we continued to pay the home mortgage and the car loan they would be reaffirmed.
You must have misunderstood. In order for there to be a reaffirmation, you MUST sign the reaffirmation agreements and they are approved by the court. If you didn't sign any such agreement, the loans were NOT reaffirmed. Your lawyer probably told you that you could keep the house and car as long as you kept up the payments.

If you don't want the car, give it back. Since there was no reaffirmation agreement, the debt to them was discharged with the rest of your debts. You can turn it in with NO liability to you and they cannot report it as a repo, it was included in bankruptcy first.

Am I legally responsible for continuing to pay?
Only if you want to keep the car.
 

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