Reaffirmation Agreements

Last Updated: April 2, 2015

A Reaffirmation Agreement is an agreement made between the debtor and a creditor to reaffirm a debt. Creditors must include very specific language in reaffirmation agreements; debtor's attorneys must submit certifications to accompany agreements; the court must hold a hearing on reaffirmations for all unrepresented debtors (except for consumer debt secured by real property); the court must review reaffirmation agreements if a presumption of undue hardship exists (based on the debtor's monthly income and expenses); and some discharges shall be held until necessary hearings are concluded.

The reaffirmation agreement shall be filed no later than 60 days after the first date set for the meeting of creditors under Section 341(a) of the Code. The Court may, at any time and in its discretion, enlarge the time to file a reaffirmation agreement.

The Reaffirmation Agreement will include:

a.             Part A - Disclosure Statement, Instructions and Notice to Debtor Discloses important information such as amount reaffirmed and annual percentage rate…cautions debtor to consider the decision to reaffirm carefully.

b.             Part B - Reaffirmation Agreement

c.             Part C - Certification by Debtor's Attorney (if any) - States the reaffirmation agreement does not impose an undue hardship and that attorney fully advised the debtor of legal effect and consequences of the agreement.  Or, a presumption of undue hardship has been established.

d.             Part D - Debtor's Statement in Support of Reaffirmation Agreement States agreement does not impose an undue hardship, is in debtor's financial interest, and that they received a copy of the Reaffirmation Disclosure Statement.

e.             Part E - Motion for Court Approval of Reaffirmation Agreement If debtor(s) is not represented by counsel during course of negotiating the agreement.  11 U.S.C. Section 524(k)(7).


To File Electronically:

  1. Review documents. Reaffirmation Agreement Cover Sheet (Official Form 427) and Reaffirmation Agreement that substantially conforms to Official Form 2400A/B ALT

     (Reaffirmation Agreement Cover Sheet and Reaffirmation Agreement may be filed as one pdf document or filed separately. If separate, file Reaffirmation Agreement first).

  2. Scan document if necessary.

  3. Log into CM/ECF.

  4. Select [Bankruptcy >Misc/Other].

  5. Enter the case number (e.g, xx-xxxxx).

  6. Select [Reaffirmation Agreement] or [Reaffirmation Agreement WITHOUT Atty Cert].

    Note:
     If Reaffirmation Agreement Cover Sheet and Reaffirmation Agreement are filed separately, then file Reaffirmation Agreement first and then file Reaffirmation Agreement Cover Sheet under [Bankruptcy>Misc/Other>Reaffirmation Cover Sheet] and refer to Reaffirmation Agreement.

    Note:
    To accurately report statistics to Congress, it is crucial that the correct event is selected.

  7. Select the party filer.  If the party is not listed, click on Add/Create New Party.

    Note:  The Attorney/Party Association screen may appear. If your party selection was correct, check the box to create an association if appropriate.

  8. Browse to select the Reaffirmation Agreement (pdf file).

  9. You will be prompted to:

f.               Enter name of creditor.

g.             Description of Property.

  1. Verify the final docket text; if correct, click [Next] to submit your document(s).

    Note: The Notice of Electronic Filing displays giving you the document number. Copies of this notice are immediately emailed to all participants who receive electronic notification in the case.

 

 

 

11 U.S.C.: 524(m)
FRBP: 4004(c), 4008

Local Rule 4008-1

Procedural Forms 2400A/B ALT and Form 427