If I filed a Chapter 7 approximately 3 years ago and signed a reaffirmation agreement with my auto lender, can they now penalize me for trading in my car?
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If I filed a Chapter 7 approximately 3 years ago and signed a reaffirmation agreement with my auto lender, can they now penalize me for trading in my car?
The agreement that I signed gave me better terms than before.
Asked on April 2, 2012 under Bankruptcy Law, Maryland
Answers:
Daniel Bowen / Daniel D. Bowen, Attorney at Law
Answered 12 years ago | Contributor
I am unsure what is meant by "penalize." The reaffirmation agreement is your new contract and should be followed with regard to what is owed.
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