ADVICE NEEDED: KIND OF LONG
Hello Everyone,
I need some advice and figured you nice people on the IN board would have some great, kind words for me.
About 3 or 4 years ago my husband and I filed bankruptcy due to medical and credit card stuff. Anyway we have been behind on our house payment and I called the bank yesterday to see how much we owed including this month so that we would be totally caught up. When I was talking to a Supervisor he said that we did not re-affirm with them and that they could not legally collect on this loan. I asked him what good it was doing us to pay on it then. He laughed at me (which pi**ed me off) and proceeded to tell me that I had a roof over my head so that is why i should still be paying on it. We owe more on the house then it was assessed for to start off with it. Anyway, we contacted the Lawyer who took care of our filing and they are telling us that it was not re-affirmed and if something happens that we can't make the payments we can just walk out of here without them coming after us for the remainder of the loan. We have been wanting to move and get out of here anyway but I am afraid that if we do that it will take us even longer to build our credit back up. However, since we owe more on the house then its worth this might be the opportunity we have been waiting for. If anyone works in a Lawyer's office or a bank can you please give me some insight on what we should do. My husband works at CAT and heard they might be laying more people off in March or after March and this would help us out greatly if we could find somewhere to live that is a lot cheaper in case this does happen. Any helpful words or advice would be greatly appreciated. Sorry this is so long and I am rambling.
Jacque
I need some advice and figured you nice people on the IN board would have some great, kind words for me.
About 3 or 4 years ago my husband and I filed bankruptcy due to medical and credit card stuff. Anyway we have been behind on our house payment and I called the bank yesterday to see how much we owed including this month so that we would be totally caught up. When I was talking to a Supervisor he said that we did not re-affirm with them and that they could not legally collect on this loan. I asked him what good it was doing us to pay on it then. He laughed at me (which pi**ed me off) and proceeded to tell me that I had a roof over my head so that is why i should still be paying on it. We owe more on the house then it was assessed for to start off with it. Anyway, we contacted the Lawyer who took care of our filing and they are telling us that it was not re-affirmed and if something happens that we can't make the payments we can just walk out of here without them coming after us for the remainder of the loan. We have been wanting to move and get out of here anyway but I am afraid that if we do that it will take us even longer to build our credit back up. However, since we owe more on the house then its worth this might be the opportunity we have been waiting for. If anyone works in a Lawyer's office or a bank can you please give me some insight on what we should do. My husband works at CAT and heard they might be laying more people off in March or after March and this would help us out greatly if we could find somewhere to live that is a lot cheaper in case this does happen. Any helpful words or advice would be greatly appreciated. Sorry this is so long and I am rambling.
Jacque
Just like with anything else...call other bankruptcy attys and get other opinions on this. Arm yourself with as much info as you can. Did you list the house in the bankruptcy? How many payments have been made since the final hearing? All this is info that they will need to know. Since they have changed all the laws its hard to tell which end is up anymore I know. But I would definitely get several opinions on this before I did anything drastic.
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