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Regarding my chapter 7 Reaffirmation hearing tomorrow,

Regarding my chapter 7 Reaffirmation hearing...
Regarding my chapter 7
Reaffirmation hearing tomorrow, husband is going without me.
$2000 behind on payments, 6000 equity in car.
When I try to talk to the people at "ascension capital" who do Cap1's bankruptcy loans, they say "we can't give legal advice" Even though I am trying to negotiate this payment plan.
So,
The husband goes, says he understands what reaffirmation means, can we still negotiate?
I know we can back out for 60 days from reaffirmation signing.
I WANT to trade it in but want the option to keep the car if we cant get a decent loan. Our car is only 2 years old with a good interest rate, so I'd be happy to keep it BUT
What I don't want is for the reaffirmation to be approved and them to immediately take our car because we are behind.
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Answered in 5 hours by:
10/19/2017
Phillips Esq.
Phillips Esq., Attorney-at-Law
Category: Bankruptcy Law
Satisfied Customers: 22,840
Experience: B.A.; M.B.A.; J.D.
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Hello: This is Phillipsesq. Welcome to JustAnswer! I am reviewing your post, and I will post my response very shortly. Thank you for your patience.

Ask Your Own Bankruptcy Law Question

A Reaffirmation hearing is not for negotiation with the lender. Reaffirmation hearing is used by the Court to determine if the Reaffirmation of the debt would cause undue financial hardship to the debtor. A presumption of undue financial hardship would be found if your expenses are greater than your income. It would then be up to the debtor to convince the Court to grant exception because you can afford to pay the debt--that you would not fall behind.

You cannot be forced to reaffirm the debt. Kindly note that Reaffirmation nullifies the benefits of your bankruptcy filing and makes you personally liable for the debt after your bankruptcy. Without Reaffirmation, you are NOT personally liable for the debt once you obtain Discharge Order from the Court. Your personal liability on the debt is wiped out after your Discharge in bankruptcy if you did not reaffirm the debt.

Reaffirmation is a voluntary act and no creditor can force you to reaffirm a debt. It is rarely in the best interest of the debtor to reaffirm a debt regardless of what the creditors tell you. A reaffirmed debt cannot be discharged in future bankruptcy filing.

Best wishes,

A positive rating to my response is appreciated so that I can receive credit for responding to your post. There is no additional cost to you for giving a positive rating.

Thank you for your cooperation.

Phillips Esq.
Phillips Esq., Attorney-at-Law
Category: Bankruptcy Law
Satisfied Customers: 22,840
Experience: B.A.; M.B.A.; J.D.
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The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

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