If I filed a Chapter 7 approximately 3 years ago and signed a reaffirmation agreement with my auto lender, can they now penalize me for trading in my car?

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If I filed a Chapter 7 approximately 3 years ago and signed a reaffirmation agreement with my auto lender, can they now penalize me for trading in my car?

The agreement that I signed gave me better terms than before.

Asked on April 2, 2012 under Bankruptcy Law, Maryland

Answers:

Daniel Bowen / Daniel D. Bowen, Attorney at Law

Answered 9 years ago | Contributor

I am unsure what is meant by "penalize."  The reaffirmation agreement is your new contract and should be followed with regard to what is owed.


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