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Showing results for tags 'reaffirm'.
I filed chapter 7 pro se and went to the meeting of creditors last week. It went smoothly. Then, I had to go to a hearing about two items: 1) my request to have the filing fee waived (judge ordered me to pay 100 in 4 installments, so that's not too bad at all!) 2) approval of a reaffirmation agreement between myself and a finance company who had made a small loan to me with my 2002 accord as collateral. So, that's where my question comes in. The creditor was fine reaffirming. They took my principal + interest (VERY high interest rate) and rolled it into the new principal and called it a 0% interest reaffirmation agreement. The judge asked me about it and I said that the interest was included in the new principal. So, he ordered a show cause hearing to find out why the finance company did this. The hearing is next week, and I just have two quick questions for anyone who's familiar with this process at all: 1) will I need to go? I planned to go because I want to be on the safe side, but I'm not sure what's expected of me and I want to be prepared. 2) what is likely to happen? Is this happening because the judge plans to order a new agreement with the interest changed? Will I be in danger of losing my car? I didn't ming paying the interest, honestly. The loan wasn't much, so the interest, while very high, didn't amount to a whole lot extra per month, and I just want all of this mess behind me. I only filed because I was getting sued and having trouble keeping up with answering and trying to fight all the lawsuits, and a default judgment had just been ordered and I absolutely cannot afford a garnishment and didn't want to risk trying to file more answers or appeals to stave off what seemed to be an inevitable loss anyway. My score has gone up by over 100 points now, though I know that doesn't necessarily mean anything, and I have 0 desire to get any lines of credit any time soon. I'm gonna just live lean from now on! Any advice or experience you can offer about the show cause situation would be very helpful. Thanks so much!