Reaffirmation Agreements

Rev. 12/01/2015

 

11 U.S.C. § 524.  A Reaffirmation Agreement is an agreement made between the debtor and a creditor to reaffirm a debt.

 

Docket Events:

[Bankruptcy> Other> Reaffirmation Agreement]

[Bankruptcy> Claim Actions> Reaffirmation Agreement]

 

Requirements:

 

Reaffirmation Documents - Director's Form 2400A or

Reaffirmation Agreement - Director's Form 2400 A/B ALT

 

Reaffirmation Documents Director's Form 2400A:

 

  • Part I - Reaffirmation Agreement
     

  • Part II - Debtor's Statement in Support of Reaffirmation Agreement 11 U.S.C. 524(k)(6) and Rule 4008. States the reaffirmation agreement does not impose an undue hardship/is in debtor's financial interest, and that they received a copy of the Reaffirmation Disclosure Statement. The debtor's statement must be accompanied by a statement of the total income and total expense amounts stated on schedules I & J. Rule 4008.
     

  • Part III - Certification by Debtor(s) and Signatures of Parties.
     

  • Part IV - Certification by Debtor's Attorney (If represented by counsel during course of negotiating the agreement.) 11 U.S.C. 524(c)(3).  States agreement does not impose an undue hardship and that attorney fully advised the debtor of the legal effect and consequences of the agreement.
     

  • Part V - Debtor's Disclosure Statement 11 U.S.C. § 524(k). Discloses important information such as amount reaffirmed and annual percentage rate...cautions debtor to consider the decision to reaffirm carefully.

 

Reaffirmation Agreement Director's Form 2400A/B ALT

 

  • Part A - Disclosure Statement, Instructions and Notice to Debtor

  • Part B - Reaffirmation Agreement

  • Part C - Certification by Debtor's Attorney

  • Part D - Debtor's Statement in Support of Reaffirmation Agreement

  • Part E - Motion for Court Approval (Motion required when the debtor is not represented by an attorney. The motion should be filed as a separate docket event.  See Reaffirmation - Motion for Approval)

 

 

 

Reaffirmation Agreement Cover Sheet (Official Form 427)  

 

Motion for Approval of Reaffirmation Agreement (Director's Form  2400B or Part E of 2400A/B ALT)

 

A motion is required when the debtor is not represented by counsel during course of negotiating the agreement. EXCEPTION - no motion (court approval) required when the debt is a consumer debt secured by real property. 11 U.S.C. § 524(c)(6)(B)
 

Note:

A hearing is schedule when the Presumption of Undue Hardship box is checked on the Reaffirmation Agreement Cover Sheet and/or the Reaffirmation Agreement.  (Exception: Creditor is a Credit Union AND the debtor's attorney signed the agreement.)