27
Feb

Can't access my mortgage or car loan. Both are current and won’t be effected by the bankruptcy.


Answer:
That's typical of bankruptcy. Call your mortgage company, call your car loan company. Let them know that you plan to reaffirm. Make sure with your lawyer first, you’ve to reaffirm secured debts you wish to keep and those things needed to be listed on Form 8. Make sure your lawyer listed them! You should get a form 240 from each your mortgage company and your vehicle loan company with details of the reaffirmation.
Some companies will NOT accept a payment all throughout bankruptcy proceedings. However, you’ll be expected to catch up immediately after the bankruptcy is finalized. Contacting them, after verifying with your lawyer, would be a good idea to find out if you have to mail payments or save them up.

Answer:
Actually every one of your debts are effected(at least in the short term) by your bankruptcy filing. Since you’ve filed the creditors have “moved” your account to their department that handles bankruptcy filings. You are still required to make payments as agreed if you want to keep the house and/or vehicle. Depending on the company they may give you a different department to send the payments to. Also, be aware that because of your filing you’ll also NOT receive statements or bills from either company. So you’ve to take the initiative and make sure they are paid. This is all things your attorney should have gone over with you when you filed.

Now, once your BK is discharged and you reaffirm those debts you will once again be set up with statements and having access to the account. But unless you reaffirm the loans you will not have on-line access or receive statements.


Answer:
during bankruptcy they are automatically put into default until the court decides if they have the ability to be reaffirmed, your attorney should have told you this

This entry was posted on Friday, February 27th, 2009 at 1:44 pm and is filed under Credit. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or TrackBack URI from your own site.

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