Hi All,
Does anyone have an example of a re-affirmation of debt form that they have used after a debt has been discharged in bankruptcy?
Thank you!
Ambre
Re-affirmation of Debt Form
(6 posts) (5 voices)-
Posted 1 year ago #
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Ambre--
I don't think I've ever heard of a form like that being used on a debt discharged in bankruptcy. Legally, when the bankruptcy is discharged, that debt disappears. While the debtor in question might *volunteer* something like this, I think you would be on fairly shaky legal ground pressing for them to sign it.
More typically, I've seen these used when a company closes its doors, or is sold, and as a condition or opening or re-opening credit privileges. The owner or owners are required to sign in order to accept responsibility for repayment of the old balance.
Posted 1 year ago # -
It is perfectly legal to ask for a reaffirmation agreement.A sample form/forms is in the Manual of Credit and Commercial Laws page 24-88 and 24-89 .I have the 95th edition.if you have the current version check under sample forms at the back of the book.
Gyan Maharaj CCEPosted 1 year ago # -
The Encyclopedia Of Credit has a good explanation of the Reaffirmation of Debt after Bankruptcy under "Debt". The noteworthy points appears to be that it is voluntary, must be approved by a court, and probably wouldn't be signed by the debtor unless it was for consideration.
Ambre,
I have the 98th edition (2007) with the forms. However, I have never used the forms. You are welcome to a copy if you provide a fax number.
Posted 1 year ago # -
Thanks for the clarification; I've always been very careful of anything that might look like trying to circumvent the bankruptcy laws, but if this is permissible, that adds one more arrow to my quiver.
Thanks again.
Posted 1 year ago # -
Please review this link for an example of the requested document:
http://forms.lp.findlaw.com/form/courtforms/fed/cir/c9/b/idb/idb000011.pdf
Best regards
Michael Dennis
Posted 7 months ago #
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