Get the reaffirmation agreement form

Good afternoon this is Roger guide chapter 7 attorneys calm I wanted to talk this afternoon about a topic matter that often comes up with clients and that is the reaffirmation agreements and what they are a reaffirmation agreement relates to secured property that is for example property that the creditor can take back in case you don't pay them for example furniture if you're still paying on furniture or a vehicle or home things of that nature it could be a motorcycle could be a boat could be something like that but a reaffirmation agreement within the context of bankruptcy law is really a it's a new contract and if you do have secured property that you are trying to keep in a bankruptcy case you're going to have to sign a reaffirmation agreement with the credit or in order to be able to keep that and the in the next step is after it has been signed is that that agreement then is filed with the bankruptcy court it's part of the permanent bankruptcy record of your bankruptcy case and that contract actually survives the bankruptcy and what that means is this after you get your discharge your chapter 7 bankruptcy discharge you cannot get out of that contract with that creditor they can sue you they can garnish you they can collect they can do all that collection activities if if you do not honor that contract after you have been discharged from your chapter 7 bankruptcy so you want to make sure that you can afford actually whatever that a payment is going to be each month on that property otherwise you're going to be in a similar that you were in prior to filing the bankruptcy the other thing is too that the lawyer has to agree your bankruptcy lawyer has to agree and sign off on that reaffirmation agreement probably the courts not going to prove it in fact in the Raymond decision what happened was the clients had wanted to reaffirm they wanted to keep their vehicle they wanted to continue to make payments on that vehicle after they got out of their bankruptcy the problem was that the vehicle is worth about five thousand dollars and that the agreement that they were going to be signing called for them to make payments are obligated them to make payments of about eight thousand dollars and so in the Raymond case the bankruptcy lawyer would not sign off on it and the result was that the judge also would not approve even though the raymond's had signed it even though the creditor had signed it the fact that their attorney did not sign it was a reason that allowed the judge to not approve the agreement and so the this is a real simple process typically these agreements are approved by the court typically your lawyer will go ahead and sign off on the agreement but every now now then you're going to run into an issue where the lawyer might not admit that's sort of the result if you have any questions about reaffirmation agreements or any other bankruptcy questions in general please call me I'm available at seven seven zero seven nine to 1000 and I have 11...