By Scott Riddle Posted in Bankruptcy Basics,Chapter 13,Chapter 7,Creditor Law,Debt Collection & ForeclosureYou have filed and completed your Chapter 7 or Chapter 13 Bankruptcy case, and finally received your all-important discharge. Unless you have very unusual circumstances, you did not officially reaffirm any of your debts in your case. However, now you have thought about it and you want to pay back a certain pre-petition debt that… Continue Reading
By Scott Riddle Posted in Bankruptcy Basics,Chapter 13,Chapter 7This is another question that comes up more frequently that people might think. “I am facing financial problems, so how does it make sense for me to go out and borrow more money or use what little savings I have on an old used car???” Now…I said the question comes up frequently but the answer… Continue Reading
By Scott Riddle Posted in Bankruptcy Basics,Chapter 13,Chapter 7Although there are many reasons that individuals may have to file a Bankruptcy case, including medical debt, foreclosure, wage garnishment, and other reasons, the one question important to all of them is will they lose any of their property in the case and what will they get to keep. Often people have visions of moving… Continue Reading
By Scott Riddle Posted in Bankruptcy Basics,Chapter 7In recent posts, we have discussed the basics of reaffirmation agreements, whether or not you should reaffirm your home loan, and why you should not get legal advice from lender representatives who told you it was a mistake to not reaffirm in your Chapter 7 cases and they will not refinance because of this. This… Continue Reading
By Scott Riddle Posted in Bankruptcy Basics,Chapter 7We have covered the basics of Reaffirmation Agreements and whether you should reaffirm your home loan, and now we’ll tackle whether reaffirming your car loan is a good idea. While Bankruptcy lawyers rarely recommend reaffirming a home loan (in fact, we almost always oppose it), the analysis is a little different for vehicles. It is… Continue Reading
By Scott Riddle Posted in Bankruptcy Basics,Chapter 7One of the most common issues that comes up in Bankruptcy cases, primarily Chapter 7 cases, is “reaffirmation.” It is also sometimes one of the most confusing issues. Simply stated, a Reaffirmation Agreement is an agreement between a debtor in a Bankruptcy case and one of their creditors whereby the debtor agrees to repay a… Continue Reading
By Scott Riddle Posted in Bankruptcy Basics,Chapter 7For homeowners in Chapter 7 Bankruptcy cases, the decision of whether or not to reaffirm their home loan is one of the most important decisions that can be made in the case. Please remember this: You do not have to reaffirm your loan(s) to keep your house! We discussed the basics of Reaffirmation Agreements in… Continue Reading
By Scott Riddle Posted in Bankruptcy Basics,Chapter 7In this Blog, we have discussed Reaffirmation Agreements and the reasons why lawyers will almost never recommend reaffirming home loans. However, people who have gone through a Chapter 7 case and wisely chose to not reaffirm their home loan are being told by their lender years later that they cannot modify or refinance their loan… Continue Reading
By Scott Riddle Posted in Chapter 7In the last several years, home lenders have started telling borrowers that they cannot get a modification of their home loan if they did not reaffirm the loan in their prior Chapter 7 case. The same representatives are apparently telling borrowers that they need to reopen their Chapter 7 case to file a Reaffirmation Agreement. … Continue Reading
