Legal Question in Bankruptcy in Virginia

Reaffirmation

I filed chapt. 7 bankruptcy and reaffirmed auto loan and mortgage loans. I later converted to chapter 13 and need to know how converting will affect my reaffirmation agreement. If my reaffirmation of loans still legally binding and can the loan company refuss to honor it.


Asked on 9/01/08, 12:56 am

1 Answer from Attorneys
Daniel Press Chung & Press, P.C.

Re: Reaffirmation

You have a right to rescind any reaffirmation agreement at any time prior to discharge. I'm assuming you don't have a lawyer, because it would be extremely unusual for a competent lawyer to recommend or advise reaffirmation of a mortgage (unless it substantially modified the loan in your favor), so get a lawyer immediately. Do not try to do chapter 13 on your own.

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Answered on 9/01/08, 10:12 am


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