QUESTION
Can I re-open my chapter and add car to it if the re-affirm agreement was signed Oct 12?
Asked on Jan 09th, 2013 on Bankruptcy - California
More details to this question:
My Chapter 7 bankruptcy case was closed Dec. 12. I signed a re-affirm agreement on my automobile. Just realize how upside down I am.
8 ANSWERS
Bankruptcy Attorney serving Phoenix, AZ
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Law Office of D. L. Drain, P.A.
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You need to talk to your bankruptcy attorney. There might be steps you can take, but you need to move immediately.
Answered on Jan 14th, 2013 at 6:55 PM
Code section 524(c) authorizes a lender to enforce the terms of a filed Reaffirmation Agreement provided it was not rescinded by the debtor (1) before the Discharge was entered, or (2) within 60 days after the Agreement was filed with the Court, whichever occurs later. Accordingly, if the Agreement was filed with the Court prior to November 12th the 60 day window has already passed, and you cannot avail yourself of your rescission rights. You should check the Court docket to determine when the Agreement was actually filed. If the 60 day window has expired, I doubt that re-opening the case would accomplish anything.
Answered on Jan 14th, 2013 at 6:37 PM
Bankruptcy Attorney serving Overland Park, KS
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Wellman Law LLC
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You would not need to reopen the case to rescind the Reaffirmation Agreement. But, you must give the Creditor notice of rescission. However, it must be done prior to either 60 days passing from the date the Reaffirmation Agreement was actually filed with the Court or prior to the entry of the discharge, whichever is later. The Agreement may have been filed within the last 60 days as your case was closed about 30 days ago, so it's something to look into immediately.
Answered on Jan 14th, 2013 at 6:24 PM
Bankruptcy Attorney serving Madison, WI
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Richard B. Jacobson & Associates, LLC
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A reaffirmation must be filed with the Court before your discharge is issued. Apparently that did not happen. You certainly could try to reopen your case, at a cost of $260 to the Court. But even then, your reffed. would probably not be approved because of its being filed after the discharge. In general, you can reach an understanding with the creditor that you will continue to make the regular payments, and once the collateral is paid off, that you get clear title. But without a reffed, they will not send anything to the credit bureau showing that you made timely payments. So the real cost of your delay is only a slightly slower upward creep of your credit score.
Answered on Jan 14th, 2013 at 6:23 PM
Richard hirsh
If you mean that you now wish to rescind the reaffirmation agreement you can do so by giving the lender in question notice within 60 days after the entry of discharge or 60 days after the agreement was filed with the court whichever occurs later. It is the best practice to give the notice in writing.
Answered on Jan 14th, 2013 at 6:21 PM
Chapter 13 Bankruptcy Attorney serving Winston-Salem, NC
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Love and Dillenbeck Law
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If I understand your question, you want to re-open your case to cancel a reaffirmation agreement you previously signed and was approved by the Court. Unfortunately, no. You have until wither 60 days after the reaffirmation is filed or until your discharge is granted to back out of it. Once the discharge is granted the reaffirmation agreement cannot be cancelled.
Answered on Jan 13th, 2013 at 10:07 PM
If the reaffirmation agreement was approved by the bankruptcy court, you only have 60 days to rescind this agreement or until your discharge is granted, whichever occurs later. See 11 USC section 524 J.
Answered on Jan 13th, 2013 at 10:05 PM
Tax Problem Resolution Attorney serving Lake Oswego, OR
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THE WUHRMAN LAW FIRM
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Reaffirmation agreements may only be rescinded within 60 days of being filed.
Answered on Jan 13th, 2013 at 10:00 PM