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Ask Terry L. Your Own Question
Terry L.
Terry L., Attorney
Category: Bankruptcy Law
Satisfied Customers: 2863
Experience:  Better Business Bureau. 18yrs bankruptcy experience. Chicago Bar Assoc. American Bankruptcy Institute member.
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We just filed for bankruptcy on Monday. We would like to reaffirm

Customer Question

We just filed for bankruptcy on Monday. We would like to reaffirm on a few things like our mortgage and our two cars which are leased. Should we wait until the meeting of the creditors to reaffirm these debts or keep on paying them up until the meeting. It would give us a chance to save a bit more money if we could just hold onto the funds until we reaffirm but wonder if that would count against us even more. Not quite which way to go. We filed the bankruptcy on our own without an attorney and that is why we are not sure which way to go here.
Submitted: 5 years ago.
Category: Bankruptcy Law
Expert:  Terry L. replied 5 years ago.

Terry L. :

Hi, thanks for your question. You should hire a lawyer for specific legal advice. No attorney client relationship is created here.

Terry L. :

Reaffirmations must be filed within 45 days after the date set for your initial 341 hearing.

Terry L. :

Some creditors can take some time, so you should request them as soon as possible.

Terry L. :

The court must approve them as well if you are pro-se, so you should request the forms as soon as possible.

Terry L. :

Do you have any questions?

Customer:

Yes. I printed out reaffirmation agreements when we filled out the paper work. Should I just go ahead and send them in or keep them until the meeting. We did mark on the bankruptcy forms which accounts we wanted to reaffirm.

Terry L. :

You need to have the lender sign them too, then file them with the court, and request a hearing for their approval.

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