Full question:
I have just been discharged Chapter 7. I was notified by BMW post petetion to reaffirm my lease. My lawyer advised not to. I tried to get a new car but was unable to. I could have gotten a used car that I would have to pay 20-24% interest and put down a large down payment that I did not have. My lawyer would not sign off on the reaffirmation. Since I would be paying as much for a used car that I am paying now and that I only have 6-7 months left on my lease I reaffirmed sent the agreement back to BMW and have been notified by the trustee that he has set up a meeting of BMW, my lawyer, and myself. My question is: What will happen ?
- Category: Bankruptcy
- Date:
- State: New Jersey
Answer:
To approve a reaffirmation agreement, the trustee will want to make a determination that it won't pose an undue hardship on you, that the agreement was made in an informed and voluntary manner. I suggest talking to your attorney about the specific details that apply to your case.
This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.
