Posted on: 21st Dec, 2009 09:07 am
I am in the process of divorce. it is highly possible I will have to file chapter 7 after the divorce is final. I live in Ohio. it will be a no assets filing. no prop, possessions well under the exemptions.
I easily pass the means test. have 15k in credit card debt. car loan with US Bank. because I rolled an old car loan into my new car loan, I am upside down in my loan. owe 10K on car valued at 7k. I want to reaffirm the car note. I have never been late on car note. will US bank allow me to reaffirm the note? I have 2 1/2 years to pay on the car loan.
also heard you can avoid reaffirmation by making offer on the note, .10 on the dollar.
does anyone have experience with US Bank on reaffirmations? do thye usually allow it?
thanks!
I easily pass the means test. have 15k in credit card debt. car loan with US Bank. because I rolled an old car loan into my new car loan, I am upside down in my loan. owe 10K on car valued at 7k. I want to reaffirm the car note. I have never been late on car note. will US bank allow me to reaffirm the note? I have 2 1/2 years to pay on the car loan.
also heard you can avoid reaffirmation by making offer on the note, .10 on the dollar.
does anyone have experience with US Bank on reaffirmations? do thye usually allow it?
thanks!
no experience here, but i don't know why a reaffirmation would be declined by a bank holding a title. it behooves them to have you continue making payments rather than having to take the vehicle into their possession and find some other way to cut their losses.
giving them a dime on the dollar? not so much of a great idea, in my mind. but that's truly something for someone else who may have had experience in the matter to discuss with you.
giving them a dime on the dollar? not so much of a great idea, in my mind. but that's truly something for someone else who may have had experience in the matter to discuss with you.