The question makes no sense. Bankruptcies don't get "reaffirmed". Individual loans, however, may get reaffirmed in a bankruptcy.
If you had a loan for your car, and that loan was neither reaffirmed nor wiped out by the bankruptcy, then you should expect the repo men to show up very soon.
A "reaffirmed loan" is a loan that the claimant in a bankruptcy has left out of the bankruptcy and is "reaffirming" that they will still pay the loan as usual.
What happens to a mortgage after bankruptcy depends on whether or not the debt is reaffirmed. If the mortgage is reaffirmed the homeowner continues to pay it as if the bankruptcy had not been filed, since the debt has not been discharged. If the debt is not reaffirmed, what happens to the mortgage depends on the policies of the individual lender.
Yes, a reaffirmed mortgage needs to reflect the mortgage payment history before, during and after the bankruptcy proceedings. "In Bankruptcy" needs to portray only DISCHARGED BY or INCLUDED IN...Bankruptcy. Contact your mortgage company so that all of your payment history shows on all three bureaus. No. Not if it were a part of the bankruptcy filing. It may or may not be marked included in bankruptcy or reaffirmed in bankrutpcy. It will still remain on the CR for the prescribed time.
If you reaffirmed your car loan during your bankruptcy, you agreed to continue making the payments. If you included your car in the bankruptcy, then the loan was wiped clean, as it appears to have been according to your credit report. Your car should have been repossessed, but apparently wasn't. You should check with the lawyer who handled your bankruptcy, but my guess is that your car slipped through the cracks.
Yes. When you reaffirm you agree to continue the debt and it is removed from the bankruptcy estate. Also, the debt in this case is post-peition.. as in it came about after the date of filing.
A reaffirmed mortgage is one that was included in a bankruptcy but the homeowners get to keep the home instead of losing it back to the bank. The payments and length of loan may be adjusted.
The company wants their money so if the primary doesnt pay then the cosigner must. Their is no way of getting around this. Bankruptcy should be outlawed. If you cant afford things dont take on the debt.
If there was a secured loan and you reaffirmed the debt in your chapter 7 and you have paid off the loan, you should get the title from the lender. If you surrendered the car to the lender in your chapter 7, your balance was discharged as an unsecured loan and you have not owned the car since you surrendered it.
Yes.
It really depends on the type of bankruptcy petition you file. If you file for Chapter 7 bankruptcy the creditor who put the lien on your car may be able to take your vehicle. If you file for Chapter 13 bankruptcy you'll have the opportunity to make payment arrangements with your creditor and in that case you should get the title back after all of your payments are made and your amended. contract with the creditor has been fulfilled.
Reaffirmation of a secured loan means the borrower is responsible for repaying the entire debt. Not certain what "3086 is unsecured" means.
If our home is in foreclosure,and never reaffirmed the debt through chapter 7-how will it affect us getting a home?