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Terry L.
Terry L., Attorney
Category: Bankruptcy Law
Satisfied Customers: 2815
Experience:  Better Business Bureau. 18yrs bankruptcy experience. Chicago Bar Assoc. American Bankruptcy Institute member.
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when filing bankruptcy and have signed a affirmation agreement

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when filing bankruptcy and have signed a affirmation agreement to keep the vehichle. then get a letter from ford saying going to court because they think we cant afford it . what actually happens i have been told this is just for me to swear in front of judge that i can. i think they are trying to get my vehicle because its almost payed for .... only 7 more payments exactly what will happen in court surly this judge cannot take my vehicle.
Submitted: 6 years ago.
Category: Bankruptcy Law
Expert:  Terry L. replied 6 years ago.
A reaffirmation needs to be approved by the judge. They need to see that you can afford the payments, and that the payments do not impose an undue hardship on you. If you can demonstrate that you have sufficient income to pay your rent/mortgage, household monthly expenses, food, clothes etc, and still have enough available for the car payment, the court will allow the reaffirmation to be entered.
You should talk to your lawyer to make sure they amend schedule I & J to reflect your current income and expenses to be able to demonstrate to the court that it is not a hardship.
Customer: replied 6 years ago.
so it they say i cant afford it they can make me give up the vehicle
Expert:  Terry L. replied 6 years ago.
If the court says you cannot afford it, you will need to work it out with the lender.
They may let you keep the car, if you have had a good track record with your payments and are current and have full coverage insurance with them as the loss payee. It is up to the creditor though. If a debt is not reaffirmed, it is technically discharged thru the bankruptcy case. Talk to your lender's attorney after the hearing if the reaffirmation is not approved to see what they can do. You can then also try working with your lender directly too.
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