28 May If I File A Chapter 7 Bankruptcy In Florida – Should I Reaffirm My Mortgage?

ReaffirmShould a Debtor in a Chapter 7 bankruptcy in Florida reaffirm their mortgage or second mortgage? Good Question. The Creditors think so. The case law is unclear (at least to me), and the debtors want a ride through (ability to pay as you go without reaffirming or redeeming). This is one issue where the Bankruptcy Courts nationwide have agreed to disagree. There is clearly a split in the bankruptcy case law across the nation. Some Bankruptcy Courts allow the ride through which means that Chapter 7 bankruptcy debtors will be allowed to continue making regular payments. The case law in the Bankruptcy Courts in the Middle District of Florida is just the opposite. Here, we have an opinion that states that a debtor is required to reaffirm their mortgages but the overwhelming majority of Chapter 7 debtors do not reaffirm their mortgages, and they continue to make regular monthly payments.
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29 May How To Fill Out The Reaffirmation Agreement And Cover Sheet in Five Easy Steps

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 Five Easy Steps for you to complete the debtor portion:
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