Expert: Terry Leeders - 1/7/2008

Question
if after signing a reafirmation agreement you decide to trade in the vehicle...it is possible?  there is a hearing about the reafirmation however i can have lower payments by trading this in....

Answer
By signing the reaffirmation, you are on the hook for the balance owed.  You may trade in the vehicle, but must pay the balance, or roll it in if you do not get enough credit on the trade in.  if your case is still opened, or if you signed the reaffirmation less than 60 days ago, you may want to consider rescinding the reaffirmation and just surrendering the vehicle and eliminating the debt.  Contact your lawyer so that this can be done promptly and correctly.