What the FICO? Reaffirming Doesn’t Help My Credit Score?

By The Honorable John P. Gustafson, United States Bankruptcy Judge, Northern District of Ohio (Toledo)

Reaffirmation hearings during the pandemic have been difficult, at least for me. The economic risks for debtors are greater. There are uncertainties about the availability of credit, and the availability of suitable vehicles. Prices of used cars have gone up – with stimulus money pushing up the demand for used cars, and a chip shortage making new cars scarce – this also means that the values of the vehicles securing the loans being reaffirmed on may have also gone up.

But the fact that the . . .

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