reaffirmation agreement bankruptcy
My husband wants to reaffirm his motorcycle and give up my car. What should I do? (Bankruptcy ?)?
Our BK attorney said that he usually doesn’t advise people to sign reaffirmation agreements. My car is too expensive to keep so I agree that we should give it up. However, the Harley is also expensive and is always in the shop because my husband drives the hell out of it every day. He is being told by the creditor that he can defer payments for three months if he reaffirms the debt. There’s a chance of him being incarcerated for 1-3 months and I’m worried about getting stuck with the debt. His sentencing is tomorrow and I may not get a chance to talk about this with him in detail because he keeps focusing on how the attorney screwed him instead of preparing for the worst. What should I do?
I would be very hesitant of signing a reaffirmation agreement. Does your state (and bankruptcy judge) allow ride throughs? With the change in bankruptcy laws, it is not supposed to be allowed anymore, but many states allow it. Check on this before you sign a reaffirmation agreement.
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Reaffirmation Agreements in Consumer Bankruptcy Cases, Second Edition $9.99 The first edition of Reaffirmation Agreements in Consumer Bankruptcy Cases addressed what to expect under BAPCPA when consumer debtors want to reaffirm their debts. The financial crisis has since significantly altered the landscape for consumer debt reaffirmations, prompting renewed scrutiny by debtors, creditors and bankruptcy courts. This Second Edition provides an expanded update of reaffirmati… |
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Bankruptcy: Implementation of Reform Act’s Debt Reaffirmation Agreement Provisions $10.82 The BiblioGov Project is an effort to expand awareness of the public documents and records of the U.S. Government via print publications. In broadening the public understanding of government and its work, an enlightened democracy can grow and prosper. Ranging from historic Congressional Bills to the most recent Budget of the United States Government, the BiblioGov Project spans a wealth of gover… |
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Reaffirmation Agreements in Consumer Bankruptcy Cases … |
