Search: reaffirmation

Bankruptcy generally discharges or re-organizes a debtor’s obligations. This often includes any mortgage that the debtor owes. In a Chapter 7 bankruptcy, the debts can go away but the liens often remain. The debtor either pays the mortgage or loses the property. In a chapter 13, the same sort of thing happens: the debtor either […]

To reaffirm a debt in bankruptcy you must ask your creditor to send you reaffirmation paperwork, consisting of a Reaffirmation Cover Sheet, a Reaffirmation Agreement, and a Motion For Approval of Reaffirmation Agreement.  The creditor should fill in most or its entire portion of these papers before sending you the documents.  Here are Andy Miofsky’s […]

On February 22, 2012, the Court issued the In re:  Bowden decision.  The Bowden decision will affect the way attorneys and their clients approach reaffirmation agreements in the Eastern District of North Carolina (EDNC). First, a little background.  What is a “reaffirmation agreement?”  A reaffirmation agreement is a contract between a debtor and a creditor.  […]

The Kansas Supreme Court recently ruled in Hall v. Ford Motor Credit Co. LLC, that a debtor’s failure to reaffirm a debt secured by his pick-up truck during his Chapter 7 bankruptcy constituted a default of his loan with Ford Motor Credit.  The court found that the debtor’s Chapter 7 discharge significantly impaired the secured […]

To sign or not to sign a reaffirmation agreement is always a question in a Chapter 7 Bankruptcy when there are secured debts. Bankruptcy Law Network is presenting information regarding the reaffirmations and what you should consider before signing one.  You can click here to review all articles regarding the subject of reaffirmations.  If you […]

Let’s say you file chapter 7 bankruptcy, and you want to keep paying your vehicle loan and thereby keep your vehicle.  The bank sends your bankruptcy lawyer a “reaffirmation agreement,” which is a pre-printed official form issued by the bankruptcy courts.  It states that you are continuing to pay the monthly payments on your car loan, and […]