What should I do if my credit union doesn’t want to sign my reaffirmation agreement because the terms are different than original contract?

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What should I do if my credit union doesn’t want to sign my reaffirmation agreement because the terms are different than original contract?

The original contract was signed 3 years ago and the terms are pretty much the same, except I now need an extension of 13 months to finish paying off my car. I’m current on my payments. I’m doing my Chapter 7 bankruptcy pro se and have done very well so far, except for this obstacle, I’m almost done.

Asked on August 11, 2012 under Bankruptcy Law, South Carolina

Answers:

Terence Fenelon / Law Offices of Terence Fenelon

Answered 8 years ago | Contributor

Very little that you can do.  A reaffirmation is a voluntary agreement.  Neither you nor the credit union can be forced to enter into the agreement.  You can reaffirm the vehicle under its original terms or suffer the consequences after discharge and closing of your case.  In a chapter 7, unlike a 13, you do not have the ability to rewrite the loan agreement.


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