Is a lender legally obligated to notify the debtor if a reaffirmation is denied?

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Is a lender legally obligated to notify the debtor if a reaffirmation is denied?

We signed reaffirmations for 2 vehicles with our lender (a Credit Union) after our Chapter 7. They only approved one but never notified us that they denied the second. We have been paying both loans religiously for 15 months since our bankruptcy, only to find out today that we cannot refinance the second loan because the CU will not release the title, and that we will never own the vehicle. I feel as if we have wasted 15 months of payments on a car that we could have surrendered long ago.

Asked on March 1, 2012 under Bankruptcy Law, Virginia

Answers:


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