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Ellen, Attorney
Category: Bankruptcy Law
Satisfied Customers: 36714
Experience:  Bankruptcy Lawyer. Experienced.
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I received a discharge for a bankruptcy recently. I reaffirmed

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I received a discharge for a bankruptcy recently. I reaffirmed a car loan. Just recently my financial circumstances have changed with no prior knowledge. I can no longer keep up the payments. I understand that I am liable for this debt because of the reaffirmation, but I do not want to have a vehicle repossessed and be sued for the outstanding amount. Because of this reaffirmation agreement am I stuck with this vehicle?
*This chat is not intended as legal advice. It is general information that may or may not apply to your situation and should not be relied upon.*


My name is XXXXX XXXXX I will do whatever I can to answer your questions!

Do you know the date that you signed the reaffirmation and the date that you received your discharge?
Customer: replied 3 years ago.

I received my discharge June 1st and signed my agreement in February.

Unfortunately it does appear that you are bound by the reaffirmation.

A reaffirmation may be revoked at any time prior to discharge or within 60 days of signing. This means that if you received your discharge and 60 days has elapsed since you signed the reaffirmation agreement, you are personally liable on the debt.

I realize that this answer may not be entirely to your liking, and I regret being the bearer of information that you really don’t want to hear. But it would be unfair to you and unprofessional of me were I to provide you with anything less than truthful and honest information. I hope you understand.

I would be glad to respond to any related follow-up questions that you may have.
Customer: replied 3 years ago.

Honestly, it's the total cost of maintaining the vehicle. Really the insurance. I could pay just the note but the note and the insurance together is over 800 dollars. I got the cheapest rate for full coverage in my area. I know I am still responsible for the debt, I'm just looking for the possibility of returning the vehicle, while still owing the debt.

You can contact the creditor and negotiate the voluntary return of the vehicle. However before you do that, you may want to return to your bankruptcy attorney and verify the date and validity of the reaffirmation
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