Re: Help!

This is a cross-collateralization clause or dragnet clause. Credit
Unions typically try to get people to reaffirm both debts based on
these clauses. These may or may not be legal under Regulation Z of
the Truth-in-Lending Act (TILA). "May or may not" means the answer
will be determined by previous cases in your jurisdiction. Whatever
the "law" is does not mean it necessarily takes care of itself --
you would have to personally pursue the issue by motion or adversary
proceeding in the bankruptcy case if the creditor did not accept
your position.

--- In , kathyevans816@y... wrote:
> I am filing chapter 7 on my own can't afford the lawyer.
>
> Heres my queston;
> I have several loans with my credit union including my car loan.
I
> am planning to reaffirm my car but at the bottom of the loan
> agreement it states that it may be used as colleratal for other
> loans. DOes this mean that I have to reaffirm all my credit union
> loans?