Legal Question in Bankruptcy in Georgia

Chapter 7 and Reaffirmation

I have filed chapter 7 in Georgia

and I am Reaffirming my car

because I have a co-signer that I

am trying to protect and I want to

keep my vehicle. My question is,

does the co-debtor have to sign

the agreement? (note the co-

borrow did not file for bankruptcy.)

Im looking at the agreement for

reaffirmation (form 240A) and it has

a place for the Borrower to sign

(me) and then below it there is a

place for the co-borrower to sign.

Actually it says (Co-Borrower, if also

reaffirming this debt.) So, being

that reaffirming is actually basically

signing a new contract, does the

co-borrower have to sign it too or

can I put it just under my name?

Also, the terms that they gave me

are the same terms that I signed

before ($X at X% for X yrs.) Do you

know if it's possible to get a better

rate from the lender, or do I just

accept it as is?

Thanks


Asked on 9/12/08, 8:18 pm

1 Answer from Attorneys
Glen Ashman Ashman Law Office also dba Glen Ashman Attorney

Re: Chapter 7 and Reaffirmation

These are questions that you should be discussing with your Chapter 7 lawyer and he is obligated to discuss all the consequences and issues as to reaffimation. He also can assist you, depending on the lender, in negotiating the terms. No one here, since we don't represent you, haven't seen your schedules, and haven't seen the reaffirmation, can answer you.

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Answered on 9/12/08, 8:20 pm


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