bankruptcy affirmation agreement
Guidance with creditors after chapter 7 bankruptcy.?
I filed chapter 7 in 2005 and it was discharged in 2005. Included in the bankruptcy was my mortgage, that I did not re-affirm. Now three years later I have become one payment behind. The mortgage company wants me to sign an agreement to pay back the one month, I am more than happy to do this, but this won’t re-affirm my mortgage will it? Some tricky way to re-affirm? Anyone had this happen? Also, I have recently learned they are reporting the late payment on my credit file, can they do this? Since it was a bankrupt account with no re-affirmation how can they report anything other than “included in bankruptcy”?
You are lucky they only want you to sign an agreement; they are entitled to foreclose AT ANY TIME, since your personal liability for the mortgage was discharged and you didn’t sign a reaffirmation agreement. Since your personal liability for the mortgage was discharged, they are entitled to repossess the collateral (in some Districts, only if you fall behind on your payments – which you have).
Whatever you sign, it won’t be a reaffirmation agreement since reaffirmation agreements need to be approved by the bankruptcy court and you are no longer in bankruptcy; your case was probably closed years ago.
It could be a new mortgage agreement. Whatever it is, read it carefully before you sign.
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